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The Eyes Have It: Understanding Home Buyer Internet Search Behavior
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The Eyes Have It: Understanding Home Buyer Internet Search Behavior

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This presentation examines the science behind ocular technology and homebuyers searching for homes on the Internet. …

This presentation examines the science behind ocular technology and homebuyers searching for homes on the Internet.

The relevance of photos, property descriptions, agent remarks on websites, “F & Z” patterns of design, and comparisons of real estate professionals and home buyers are examined.

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  • 1. The Eyes Have It:The Eyes Have It: Understanding Homebuyer Internet Search BehaviorUnderstanding Homebuyer Internet Search Behavior
  • 2. Course ObjectivesCourse Objectives • Examine the science behind homebuyers searching for homes on the Internet. • The relevance of photos, property description, and agent remarks on websites. • Discuss tthe “F & Z” pattern ofhe “F & Z” pattern of designesign.
  • 3. Ocular (Eye) Tracking Total Dwell Time Total time spent looking at each picture; Fixation Duration Average time spent at each fixation point within each picture; # of Fixations per Picture Number of points on the screen where the participant’s eye stopped; and Saccade Count The number of times the participant’s eye jumped from one fixation point to the other. Ocular or Eye trackingOcular or Eye tracking isis the process of measuringthe process of measuring either the point of gazeeither the point of gaze (where one is looking) or the(where one is looking) or the motion of anmotion of an eyeeye relative torelative to the head.the head.
  • 4. ““F & Z” PatternsF & Z” Patterns
  • 5. “F & Z” Patterns As Predictors
  • 6. Myths & Truths About WebsitesMyths & Truths About Websites
  • 7. “Faces Always & Instantly Draw Attention”
  • 8. “Large Text Instantly Draws Lots of Attention”
  • 9. The Words FREE & DISCOUNT Always Pop First
  • 10. Tracking the Eyes
  • 11. Tracking the Eyes
  • 12. Tracking the Eyes
  • 13. Study This Image for 5 Seconds.
  • 14. Tracking the Eyes
  • 15. Which Heat Map is the Men & Which is the Women? Women pay more attention to his left hand; he is wearing a wedding ring. Women looked at her bikini; the men not so much! Men were less interested in the marital status of the young lady and paid more attention to her face, breasts and stomach. WW MM
  • 16. Real Estate WebsitesReal Estate Websites
  • 17. Real Estate Websites
  • 18. So How Many Home Search Websites Are There?
  • 19. Top 10 National Real Estate Websites
  • 20. 2013 NAR Profile2013 NAR Profile of Home Buyers and Sellersof Home Buyers and Sellers
  • 21. 2013 NAR Profile of Home Buyers and Sellers
  • 22. 48% 8% 33% 43%
  • 23. Where Buyer Found the Home they Purchased
  • 24. How A Website is Used • Buyers used the Internet as a pre-screening device and then, • Contacted a broker to physically inspect the most promising properties.
  • 25. What They Want In a Website • Home buyers & sellers want relevant messaging & pricing models that provide a seamless experience across all their devices. • 8 in 10 buyers rated photos and detailed information about properties for sale the most useful website features. 4 in 10 buyers rated virtual video tours, interactive maps, and real estate agent contact information very useful among website features.
  • 26. Realtor Technology Survey
  • 27. Realtor Technology Survey
  • 28. Realtor Technology Survey
  • 29. Hmmmm???
  • 30. The Results • Buyers who used the Internet were more satisfied with their purchase than those who used real estate brokers, agents, auctions, or FSBO’s.
  • 31. Site SamplesSite Samples
  • 32. Zillow
  • 33. Trulia
  • 34. Realtor.com
  • 35. Tips • Keep your photos FRESH and PROFESSIONAL! • Avoid excessive “text” on page; • Link to information that is relevant to your audience; • Start a blog; • Keep the “ocular” patterns in mind when laying out your website; and • Tie the website to various social media portals.
  • 36. References • National Association of Realtors (NAR). (2014). 2013-2014 Realtor Technology Survey Report. Washington, DC: National Association of Realtors Research Division. • National Association of Realtors (NAR). (2013). Homebuyer and Seller Profile 2013. Washington, DC: National Association of Realtors Research Division. • National Association of Realtors (NAR). (2013). Member Profile 2013. Washington, DC: National Association of Realtors Research Division. • Richardson, H., & Zumpano, L. V. (2012). Further assessment of the efficiency effects of internet use in home search. The Journal of Real Estate Research, 34(4), 515-548. • Seiler, M. J., Madhavan, P., & Liechty, M. (2012). Ocular tracking and the behavioral effects of negative externalities on perceived property values. Journal of Housing Research, 21(2), 123-137.