How well are you positioned to capitalize?
The internet has proven to be a very efficient way for home buyers to see what options are out there for them when they are in the market for a home. But…it is also proving to be a way for them to choose the realtor that will help them in that search. If you are not taking advantage of that fact, you are potentially losing out on multiple commissions every month! What’s important to home buyers? Read on….
If You’re Not Online, You Don’t Exist
In addition to the 92% figure1 quoted above, Google has reported that Real Estate-related search inquiries have grown 253% over the last 4 years2. Even in the case of “Word of Mouth” agent recommendations, 87% of home buyers are likely to search online for more information about that agent3. What do you think they’ll do if they don’t find anything?
But What are they Looking For?
Good question! If you have a well written bio & impressive credentials…that is potentially enough to attract business from only about 13% of home buyers4. Meanwhile, 90% of people say that online reviews help them to determine the quality of a local business…and 62% of home buyers say that “excellent reviews that were posted by real customers” is what would make them “most likely” to contact a real estate agent they found online5!
In fact, consumers in general are 6.5 more times likely to trust online reviews than traditional advertising6…where are you spending your promotional dollars?
That Trust Translates into Leads!
About 35% of agents are actively using online reviews as part of their marketing strategy with reports of up to 51+ leads per year from online reviews alone7!
Which Can Translate into (Many) Dollars!
69% of agents say that leads generated from online reviews are either “relatively easy” or “very easy” to convert8!
With a US existing home median sale price of $236,4009 and an average net commission of 1.5% for the agent, a real estate agent focused on online reviews and receiving 1 lead per week from them could earn over $184,000 from those reviews alone!
Agents that take a more proactive approach to building positive reviews now, will help create more home buyer inquiries, trust and business in the future!
Ready to Generate More Reviews?
At BARQAR, we specialize in helping real estate agents generate more online reviews. Learn more about our agent review system and in-home app that will help you generate immediate customer feedback and reviews.
1 National Association of Realtors “Profile of Home Buyers” 2014
2 Google Internal Search Data Q3 2012
3 ZipRealty.com 2015 Survey
4 ZipRealty.com 2015 Survey
5 ZipRealty.com 2015 Survey
6 Brightlocal.com – Local Consumer Review Survey 2013
7 T3 Experts 2014 Agent Reviews and Lead Generation Survey
8 T3 Experts 2014 Agent Reviews and Lead Generation Survey
9 Ycharts.com – 7/22/15