Real Estate Survey for Essex County

1. 2018 DIGITAL AGE
OF REAL ESTATE
TECHNOLOGY SURVEY
By Nancy Fischer

2. This Survey Was Created to Define
and Compare The Technology
Real Estate Agents Are Currently
Using to Conduct Business.

3. • The world we live in today is a digital one,
and searching for a home is no different.
• Buyers now have apps that let them search
by location and neighborhoods.
• Online listings have virtual tours so viewers
can look at a group of potential homes while
narrowing down their search to a select few in an effort to save time
and maximize the ability to compare and contrast homes on the
market by selected features.
• These tools have made it easier for realtors and at the same time
challenged them to keep up with technology.
Introduction

4. Millennials looked online.
34Silent / Greatest walked into agency.
32Baby boomers looked for yard signs.
21
of Gen Exers looked online.
28
of all home buyers
Seek out sellers by an online search.52GENERATIONAL DATA
First Step in The Home Buying Process

5. How do Your Buyers/Sellers Seek You Out?
0% 5% 10% 15% 20% 25% 30% 35%
Silents/Greatest (71 and older) Baby Boomers (52 to 70) Gen Xers (37 to 52) Milennials (21 to 36)
Online Website
Mobile or Tablet
Yard Sign
Open House
Online Video site
Agency Walk-In
Phone Book

6. • More and more real estate agents are interested in turning to
drones for photography and video for better listings in real estate.
• In 2016 the Federal Aviation Administration loosened the
restrictions on drone usage so that all realtors will need is a
remote pilot license for $150.
• While drones have become the
hottest new tool in real estate it
raises issues of privacy and the
possibility of causing crashes and
damage to property.
Drone Usage in Real Estate
Source: https://www.cbsnews.com/media/9-ways-drones-are-changing-real-estate/

7. Agents feel you SHOULD use drones
and plan to use them in the future. 28%
28% of agents surveyed feel you
SHOULD NOT not use drones.
Agents are Evenly Split Over Using Drones Themselves
40% It’s a GOOD IDEA to use,
but will hire a professional.

8. 0% 5% 10% 15% 20% 25% 30% 35% 40%
Agents should not use drones
I plan on using drones in the future
I plan on using drones but will
hire a professional company to use
Think it’s a good idea and I use drones currently
28.00%
28.00%
40.00%
4.00%
What Realtors Think of Using Drones

9. • Realtors most often prefer to communicate with their clients
through smart phones, wireless email, and internet daily at over
90%. Over half of them are using GPS, cell phone and laptops.
• When working on laptop and
ipad, realtors use them most
for multiple listings at 27.9%
and comparing market analysis
at 22.99%.
Realtors And Their Use of Everyday Technology
Source: https://www.cbsnews.com/media/9-ways-drones-are-changing-real-estate/

10. Realtor Usage of The Following Technology
0% 10% 20% 30% 40% 50% 60% 70% 80% 90% 100%
GPS Cell phone (no email or internet) Laptop/desktop Smart phones with wireless email and internet
Daily
A few times a week
A few times a month
A few times a year
Rarely

11. 13.79%
19.54%
16.09%
22.99%
27.59%
0% 5% 10% 15% 20% 25% 30%
Multiple listings
Compare market analysis
Electronic contracts/forms
E-signature
Contract Management
Working With Laptops and iPads,
Business Tools Most Used By Realtors

12. Preferred Methods of
Communication With Clients
7.64
3.68
7.72
3.12
6.92
E-mail
Instant Message
Phone
Postal Mail
Text Message
Mean

13. Use of Social Media in Real Estate
Use it on occasion
and are comfortable with it.48
20Use it all the time and are
extremely comfortable with it.

14. Age Group And Usage of Real Estate Blogs
0% 10% 20% 30% 40% 50% 60% 70% 80% 90%
All Realtors
29 and younger
30 to 39
40 to 49
50 to 59
60 and older
Do not have a blog but plan to Do not have a blog Have a blog

15. Degree of Comfort Using Social Media
0% 10% 20% 30% 40% 50%
I use social media a lot and am extremely comfortable with it.
I use social media a little and am comfortable with it.
I do not use social media.
I use social media but am uncomfortable with it.

16. Platform Usage in Social Media
3.68
4.24
3.80
2.64
4.36
4.32
Instagram
Real Estate Blogs
You Tube
Pintarest
Google
LinkedIn
Mean

17. Most Used Mobile Applications by Realtors
SECOND PLACE TIE
Google Maps28
Dropbox.com 18
ekeyapps.com
18

18. Websites That Generate The Most Leads
Realtor.com
52
37Zillow.com

19. Property Sites That Generated The Most Leads
0
0
0
2.5%
37.50%
7.5%
52.50%
0% 10% 20% 30% 40% 50% 60%
Movoto
Realty Trac
Redfin
Estately
Zillow
Trulia
Realtor.com

20. • Realtors.com had the highest rate
of always being accurate when
giving price estimation of houses at
20% and ForSalebyOwner.com
had the highest rate of pricing
accuracy at 28%.
• When it comes to least accurate
sites Trulia.com and Redfin.com
are rated equally at 24%.
Accuracy in Appraising Homes on Search Sites
Source: https://www.cbsnews.com/media/9-ways-drones-are-changing-real-estate/

21. 5.97%
11.94%
2.99%
5.97%
28.36%
8.96%
17.91%
17.91%
0% 5% 10% 15% 20% 25% 30%
Mobile Applications Used
By Realtors in The Past Year
Dropbox
E-key apps
Prempoint
Google Maps
Open Home
Paragon
Supra
Other

22. 0.00 10.00 20.00 30.00 40.00 50.00 60.00
Never accurate
Sometimes accurate
Accurate about half the time
Accurate most of the time
Always accurate
For Sale by Owner Eppraisal Redfin Chase Mortgage Services Zillow Trulia Realtor.com
Rate the Accuracy of the Analytics
Tools For Pricing Properties

23. In Conclusion, Real Estate Sites are Being
Used by All Buyer Demographic Age Groups.
Realtors Are Assimilating, But Sometimes Find
it Challenging to Keep up With Technology.