Digital House Hunting: Paving the Way for Today’s Tech Savvy Consumer

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Prudential PenFed Realty comments on recent new study: Study reveals 9 out of 10 home buyers rely on the Internet as one of their primary research sources; 52% turn to the web as their first step*.

The path towards today’s real estate transaction begins with a digital journey. A recent study revealed that real estate searches on Google.com have increased 253% in the last four years.

Today, more than ever, real estate professionals need to be aware that Internet and mobile are where they will have the best chance at connecting with customers during the early stages of the home buying or selling process. The National Association of REALTORS® recently partnered with Google to conduct a study on the digital house hunting habits of today’s tech savvy consumer. The study revealed that 90% of home buyers and sellers are using the Internet to facilitate their real estate transaction and over half are beginning the process online.

The path towards today’s real estate transaction begins with a digital journey. The study revealed that real estate searches on Google.com have increased 253% in the last four years(1). REALTORS® should incorporate digital into their marketing efforts because real estate consumers who use the Internet will most likely end up using multiple sources.

Google(2) found that the most used mobile sources by buyers at the beginning of their new home search were:

  • Search Engines – 49%
  • General News Websites – 31%
  • Maps – 31%
  • Applications – 24%

Both search engines and applications were used over 40% of the time throughout the home buying process and 77% of the these new home shoppers utilized their mobile devices while at home. These mobile sources were used to read general home information, obtain directions, price and feature compare, search a company’s listings, read reviews, research financing and watch real estate listing videos. In addition to the afore mentioned actions, 28% of new home shoppers used mobile devices to call a real estate brokerage, locate a listing agent (21%) or contact the real estate brokerage by methods other than calling (18%).(2)

These tech savvy home shoppers may often conduct mobile research while watching television and over 50% who conduct video research do so via YouTube. Today’s consumer wants real estate information and tools at their fingertips regardless of where they are. They want to be able to browse homes and interact with real estate professionals while at home (or other people’s homes), at work, at restaurants or even waiting in line. This means that brokerages need to be on the cutting edge with real estate technology by making sure their websites are optimized for mobile allowing them to display and be utilized properly on any device.

For more information on how Prudential PenFed Realty provides its real estate professionals with technology savvy tools, please visit PenFedRealty.com/Success or call 888.732.8233.

About Prudential Real Estate and HSF Affiliates LLC

Prudential Real Estate is a part of the HSF Affiliates LLC real estate brokerage family, which includes Real Living Real Estate and the new Berkshire Hathaway HomeServices brand available later in 2013. Prudential Real Estate franchises are independently owned and operated.

HSF Affiliates LLC, based in Irvine, Calif., is a joint venture of HomeServices of America and Brookfield Asset Management.
Prudential, the Prudential logo and the Rock symbol are service marks of Prudential Financial, Inc. and its related entities and are used under license with no other affiliation with Prudential.

About Prudential PenFed Realty

Prudential PenFed Realty, wholly owned by PenFed (Pentagon Federal Credit Union), is a full-service real estate company with an annual sales volume over $1.7 billion; serving PenFed members as well as the general public. Recognized as a leading real estate company in its service area, it is ranked among the top Prudential affiliates nationwide. Over 1,700 top-notch sales professionals work out of Prudential PenFed Realty’s 49 offices to provide complete real estate services in Delaware, Florida, Kansas, Kentucky, Maryland, North Carolina, Northern Virginia, Pennsylvania, Washington, D.C. and West Virginia.

Prudential PenFed Realty is an affiliate of the Brookfield/Home Service Franchise (Formerly Prudential Real Estate) Residential Property Services network. Its franchises are independently owned and operated. The network provides franchises with numerous benefits, including access to Prudential Real Estate’s Online Seller Advantage® program designed to provide real-time information to sellers in an easy to use system; and Online Buyer Advantage®, enabling consumers to easily search for property in all 50 states and the District of Columbia. Prudential Real Estate is one of the largest real estate brokerage franchise networks in North America, with more than 1,500 franchise offices and 50,000 sales professionals in the franchise Network as of December 31, 2011.

©2013 BRER Affiliates LLC: An independently owned and operated broker member of BRER Affiliates LLC. Prudential PenFed Realty is an independently owned and operated member of BRER Affiliates LLC. PenFed Membership is not required to conduct business with Prudential PenFed Realty.

Learn more about Prudential PenFed Realty by visiting PenRedRealty.com, call our Career line at 888.732.8233, or email us at: careerline(at)PenFedRealty.com.

References:

  • 2012 Profile of Home Buyer and Sellers. (November 2012) NAR Research

(1) Google Internal Data, Q3 2012
(2) Google & Compete New Home Shopper Mobile Survey, 2012

Sources:

Lautz, J. and Prunell, J. (January 16, 2013). The Digital House Hunt: Consumer and Market Trends in Real Estate. A Joint Study from the National Association of REALTORS® and Google. NAR Research: http://www.realtor.org/reports/digital-house-hunt

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Miranda Opiela
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