What Marketing Works? PDF Print E-mail
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Tuesday, 22 June 2010 18:18

In 2008 the National Association of Realtors (NAR) did market research on the type of marketing that buyers used to find a home and what medium ultimately made the sale. These statistics can be found in the 2008 NAR Profile of Home Buyers and Sellers at realtor.org.

 

Here are the facts:

 

In 2008 Buyers used the following marketing mediums to search for their home:

  • 87% used the internet
  • 85% used an agent
  • 62% used the yard signs
  • 48% used open houses
  • 47% used the news paper
  • 30% home magazines
  • 22% home builders
  • 10% television
  • 7%   billboards

6%   relocation company

 

(Note: The above statistics do NOT reflect the medium where they actually found the home they purchased, it merely reflects where they looked.)

 

 

In 2008 when a buyer found the home they bought here's where they found it:

34% Real Estate Agent

32% Internet

15% Yard sign

7% Relative or friend

7% Builder (new homes)

3% Newspaper

2% Knew the seller

1% Home book/magazine

 

(Note: Open Houses clock in at less than 1%)

 

These statistics are very true to what I experience in the market which is why when we market we prioritize our marketing like this.

 

1) Publish your home in the MLS with as much information for other Realtors so that they can  pass it on to their buyers.

2) Internet Marketing. As many pictures and as much information as possible for the consumer so that they will want to look.

3) A Yard Sign with a flyer that has color photos.

 

With the right marketing in place your home will get the exposure that matters in the current market. 2008 was 2 years ago and we have seen the market move more and more towards reliance on the internet. In 2001 only 8% of buyers found their home on the internet, now it is 32%.

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