Internet Real Estate Marketing, Why?

Some Interesting stats:
1) In 2006, 80% of real estate consumers used the Internet in their search for a home.
2) Buyers are now 5 times more likely to find the home they purchase online than in the newspaper.
3) Less than 10 percent of the annual $11 billion spent on real estate marketing is dedicated to interactive. ( 2006 National Association of REALTORS® Profile of Home Buyers and Sellers )

Number 3 seems way out of proportion doesn’t it. I certainly don’t know why, but I’m happy to speculate on this huge variance. I believe that many Real Estate Agents, especially the older ones don’t really know how to market themselves and/or their clients’ properties on the Internet.

Sure they have a website, a few are great, many are OK and most are of poor quality or non-existent. If you are afraid of the technology, or do not want to spend your money on something you can’t touch or physically deliver to a prospect, then chances are you’ll stay away from the technology.

So certainly you can work your referrals and get lucky with the occasional drive-by and open house, but if you really want to be in that top 20% of Agents, then you have to buy-in to the technology. That means investing time and money and doing your homework. Meeting with several different consultants, researching their current client results, evaluating their offerings, determining which programs will work best for you in the short term while developing a longer term strategy. . . . .

But then again, you can still be in the top 20% if you work your referrals properly.