It has been very clear for some time that most buyers of real estate start their search on the Internet. The Internet has a wealth of information and tools for buyers that can't be duplicated in print or any other medium.
What also has been true is that few sellers use the Internet to hire a listing agent. Agents and sellers have relied on their sphere of influence to make the broker/client connection. Referrals have always been considered the highest quality lead with the best conversion rate.
However, now that most listings expire at least once, sellers are starting to scrutinize the efforts of their agents. They go to the Internet to try to seek answers as to why their property hasn't sold.
And when they do, they discover that some agents have an Internet presence that stands out over and above the rest. These agents have websites and blogs that dominate the search keywords in their area, and are returned organically in many searches.
Sometimes the proof is in the pudding. Sellers can verify for themselves which agents are the Internet powerhouses in their area.
As a result, SELLERS are now calling agents prior to the expiration of a listing. It's a new trend that will continue as more and more properties languish for month after month on the market.
And this trend will continue to escalate during the foreseeable future!
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Richard, That is a trend that I can most definitely live with!!
Richard, this happens to us on a regular basis. Sellers notice who the Internet-intelligent agents are. We use our net presence to give our clients an edge. Everywhere I go, I talk real estate and our web site. I'm so boring.......LOL.
Richard, thanks for the reminder and I am very pleased that they are looking on the Internet.
I had a seller contact me yesterday who's aunt has their home listed and she doesn't think her aunt is doing enough to sell their home. Been listed 25 days and she already shopping for a new agent.
Richard - This trend has sporadic for me, but I've noticed a marked increase in the last few weeks. Thanks for pointing this out. Best of luck
Another great reason to build your internet presence!
Richard,
I am planning on doing a post about my experience in this area later today. I am thinking that I will use a link back to your post if you don't mind.
I see some evidence that sellers are also getting more interested in having their houses inspected prior to or as a part of their listing of the home. I always ask my buyer clients if they would be more inclined to buy a pre-inspected house and 8-9 of 10 say they would.
Barb...
It's happenong all over the place!!! Thanks.
Suzanne...
What prompted this post yesterday was a call from a seller that started: "I found you on the Internet..."
Steven...
They are desperate, and desperate times call for desperate measures!
ABSOLUTELY! I have noticed a dramatic increase in the number of sellers contacting me.
I planned on it with strategically selected landing pages.
I love it when a plan comes together.
Hmmm, good point. Perhaps more of my blogging efforts should be listing related. I never really thought about it before.
I have a couple of current listings from sellers who found me on the internet. I've been watching the listing of another one, that didn't hire me and relisted with their former agent. The home is still sitting on the market and still overpriced. Guess they didn't read all my posts about pricing and condition to sell in today's market :-)
Richard,
It's about time. Whatever the reason, bring them on. In the past I've tracked how many expireds relist with the same agent and the number was around 95% or greater in my area. That seems to be changing now because of market dynamics.
Rich
Mark...
A seller called me yesterday too ... but the listing is expiring ... more than 25 days on the market! lol
Jennifer...
It took years and years, but it's finally catching on! THX
Jared...
It is an excellent reason!
Actually I have had that happen a couple of times even though Im more a buyers agent, it's nice to be recognized by sellers for my online efforts.
You mean to tell me I'm in the right place at the right time? Holy smokes Batman! I know that buyers find us, it was only time before sellers caught on to it... and if they are reading blogs and finding us, they will be more informed sellers about pricing and condition. YEAH thats a real win win.
It's true! That's why I built a website specifically (and only) for sellers about 5 years ago - to capture that traffic. And of course it appears on page 1 or 2 of Google! People thought I was crazy!
Richard, all the reason to have an Internet presence and to keep blogging. It's time for agents to get on the band wagon or miss the train before it is too late.
I agree with you. Sellers are shopping the Internet for answers when their home isn't selling. They have more tools than ever before and I think that is a beautiful thing.
And they wonder why newspapers are not selling real estate ads to brokers anymore.
The majority of my listings have come from people that contacted me through the Internet.
I have found this trend creeping into my market also and for one I'm glad. I know that I currently do more than much of my local competition on line to get my listings out there for buyers to see. And my sales numbers the past few months show my results over others in my area. I'm thrilled that sellers are now checking this out.
I completely agree with this article, you bring up some great points. Thanks for posting this article!
If you're looking to have internet presence that stands out above and beyond the rest, you should definitely take a look at Milobox: http://www.milobox.com/compareus.html
It is effective, user friendly, and it will save you $$$.
Richard: I am noticing more and more of this trend myself. A listing I took last November found me online. And the one that signed on with me last night compared my internet presence with the competing agents. All this blogging and my website being up to date, are really paying off.
Richard,
I agree with you, and people who are using AR and other such sites are really helping themselves to be noticed. :)
Steve
In my area...sellers and buyers are hit and miss on the internet. I have run across a growing number that don't hold everything they see on the internet at face value.
But the internet is here to stay and we need to make that presence clear and bold.
Any agent that doesn't think the internet is important is fooling himself. This is simply another example of why our free time should be used to develop our internet presence.
Sellers do look at agents for chemistry, local expertise, performance etc. Richard. Then they do the interview. All things, web site, blog, background all play a role.
Richard, I have several listings right now from sellers who found me on the internet. Just like buyers are doing their own research, sellers are doing the same thing and finding the people who are embracing the technology and using it to advertise their listings - exactly what a web savvy seller wants to see.
This is a good trend. I agree many sellers look for agents on the internet.