Google and NAR have collaborated to uncover trends and insights on digital media usage among today's uber-connected home shoppers. examines the connection between consumer Internet use and online home search and shopping patterns. The study leverages NAR’s custom research and Google’s proprietary and third-party research. Google collaborated with Compete in 2011 and 2012 to survey and analyze the behaviors of people in the market for new and existing homes. That research focused on people who had completed an online “conversion”– taking the next step of contacting an agent or requesting additional information from a real estate brand’s website.I
Over the past decade, our world, and particularly the world of house hunters has become increasingly digital. Consumers are going online at a rapid pace to look for information to supporttheir buying decisions. They watch “how-to” videos on YouTube, they read review sites, they look up specific brands on search engines, and even research on the go with their smartphones and tablets. Google calls this idea ZMOT, or the Zero Moment of TruthAs Google’s ZMOT handbook for marketers explains, “the sales funnel isn’t really a funnel anymore.” Today there is a new, empowered consumer generation that does its homework ahead of time at this new and critically important Zero Moment of Truth
31% of home shoppers WHO TAKE ACTION on a site are 25-34. Segment is growing!
Meanwhile, both men and women are part of the decision. Since 2010, the percentage female users registering grew by 10%.
About 20% of real estate related searches are now happening on mobile devices. How many of you think that percentage is going to grow? Real estate related searches on Google from mobile devices grew 120% from 2011 to 2012.
House hunters are using video to do their research…86% want to find out more about a specific community, 70 percent are looking to TOUR the inside of a home. 30% want to see customer testimonials…perhaps it isn’t enough to just read them, now.
Realtor.org/reports/digital-house-huntZeromomentoftruth.comhttp://www.realtor.org/topics/profile-of-home-buyers-and-sellers Full report costs $50, highlight slides are up on the page at REALTOR.org
“The Digital House Hunt”A joint
report between NAR Research and GoogleReleased in January 2013Connects the dots on online home search and shoppingpatternsShows how shoppers use online tools and sites as theyprogress through the processGives YOU a blueprint for how to market to theseconsumers!
Zero Moment of Truth: ZMOT
Shopping is no longer about showing up in astore, or in our cases at a brokers’ office or an openhouse, seeking advice or counsel on what to buy or how much they should pay.
More video tidbits:Finding an agent,
and agent-related searches onYouTube grew 46% from 2010 to 2011.New home buyers place emphasis on virtual tours andvideos showcasing properties and communities.
One deep thought of the
day:90% of buyers are searching for homes online.Only 6% of buyers frequently use newspaper ads as aninformation source for home listings.What percentage of your marketing budget is spent to reach that 6%?
Action Plan:Make sure your website
is mobile ready.Use video to deliver buyers exactly the information theyare searching for. Neighborhood video is a niche thatcould pay off well. Consider setting up a video channel.Include more local information on your website.Recognize that online consumers search and act onwebsites in a consistent manner .