Marketing yourself and your properties is crucial. When you keep yourself updated with the latest real estate marketing trends, you can plan a solid marketing tactic, which in turn, helps you in getting more sales.
Here are 7 real estate marketing statistics that will help improve your sales.
1. 88 % of buyers bought their home recently through real estate agents or brokers
About 43 percent of recent home buyers went online to search for homes and the share of buyers that did an internet search for homes rose to an overwhelming 97 percent. However, 88 percent of people bought their homes recently with the help of an agent or a broker. These figures are a strong indication that you should be marketing yourself and not just rely on your website or agency to help with lead generation. Postcards, door hangers, and business cards can help in putting you on customers’ radar, particularly if you go direct-mail marketing and networking.
2. 12% of buyers bought a multi-generational house
Twelve percent of buyers bought multi-generational houses to care for aging parents, for cost-savings, and because children aged over eighteen were moving back. 18 percent of people between the ages of 74-94 bought a multi-generational house. While buyers between the ages of 55-64 accounted for 16 percent. Using this data, you can devise a targeted postcard advertising campaign to showcase your ability in finding multi-generational homes that work for every family member.
3. 86% of millennials who bought homes were first-time buyers
Many millennials between the ages of 21-28 are investing in property rather than spending on rent. Besides that, about 55 percent of older millennials belonging to ages between 29 and 38 bought a home for the first-time as well. This stat indicates an incredible opportunity to showcase yourself as a reliable agent for a targeted age group. You could, for instance, even send direct mails to homebuyers in the millennial age range.
4. 49% of homebuyers rely on yard signs for information
Yes, 43 percent of homebuyers indeed go to the internet to find their home. But where does the other half of the homebuying population go to? It’s the yard signs. These signs are a powerful way to advertise properties. Besides, most online searches conduct drive-by’s and then come across your yard sign. Yard signs are basically landlocked beacons for listed properties. However, you can make improve your yard signs for favorable results. For example, you can add a flyer loaded with pictures, details about the property, and also links to online videos or photos, followed by your sales pitch and contact information.
5. 41% of sellers found their real estate agent through referrals
Word of mouth (WOM) marketing is surely an important source of marketing. In fact, 92 percent of consumers trust suggestions from family and friends more as compared to advertising, suggests a Nielsen Study. However, without a dedicated strategy to request referrals from former and current clients, you could be missing out on massive opportunities to boost your lead generation. You might want to consider giving your customers referral cards that guarantee a gift or incentive for every sale made via their referral. Brainstorm a tactic that rewards your customers, and you’ll earn your own rewards.
6. Listings with sharp, high-quality pictures increase the chances of selling at or above the list price
Professional photos can help you sell your property at a higher sales price. According to a study, properties with sharp images were sold at a higher price 44 percent of the time. Additionally, homes with professional looking pictures sell 32% faster. As such, invest in a good camera and get yourself some high-quality images for your property listing.
7. Property listings with video get 403% more inquiries as compared to their videoless counterparts
Real estate listings that include video garners 403 percent more inquiries in comparison to listings without video. While pictures are surely great, but if your real estate listing has a video, it’ll yield more views and responses. Moreover, video helps in improving the conversion rate for both home sellers and buyers.
Over To You
If you’re in the real estate business, keeping yourself updated with the real estate predictions and the marketing stats will help you plan your marketing campaigns better. This way, you’ll have a better chance of generating more sales.
Kristin Mortis is a Marketing Manager with 8+ years of experience at TDInsights based in Plano, Texas. Connect with Kristin on Twitter to learn about the emerging practices being implemented in the B2B segment.