Real Estate News and Advice
October 7, 2008

Today's Insider REALTOR Secret


Search Realty Times
 









Exclusive Leads In Your Market









NEED HELP?

Click for Live Support


Call: 214-353-6980









Realtor.com Most Visited Homes Site: When Will Realtors Catch On?

According to data released by the National Association of Realtors compiled by Internet consumer researcher Com Score Media Metrix, Realtor.com, NAR's official Website, has nearly five million monthly potential homebuyers who house-dream their way through the site.

They logged on for more than 2.5 billion minutes in 2003, and in January, Realtor.com had 5.5 million unique users, with 251 million minutes spent on the site. That's more than one-third of all the time spent on all real estate-related sites, says the NAR, or more than 45 minutes spent perusing 75 pages of property information each month.

"We know that the majority of visitors to our site are seriously looking to move," says Realtor.com President Allan Dalton. "Our 'Find A Home' search function was used more than 47 million times in January alone. Realtor.com is clearly the number one real estate site on the Internet in traffic that makes its way directly to local real estate salespeople and brokers."

Dalton relates the "heavy amount of homes-related Internet usage' to the "robust existing-homes market in 2003, in which overall sales easily surpassed the previous record set in 2002." There were a total of 6.1 million existing-home sales in 2003, up 9.6 percent from the previous record of 5.57 million in 2002.

In fact, home sales have set records for the past three years, while the stock market has declined. And the NAR predicts a near-record year for 2004. We're already a third of the way through the year with record-low interest rates which is stimulating buying in many parts of the country, the exact same conditions that pushed home sales past a record in 2003.

Many Realtors still don't get it

Yet, many Realtors still don't understand the seismic marketing shift these figures are influencing:

  • Consumers are going to the Internet to look for properties
  • Consumers are choosing to visit Realtor.com
  • Consumers are spending a long time looking at page after page of homes

What do Realtors think these consumers are looking at for 45 minutes?

While Realtor.com won't reveal its trade secrets, Dalton is willing to share the most obvious - they are spending the most time on listings with multiple photos.

"Seventy-eight percent of consumers want multiple photos," says Dalton, "and more photos means more property views. Homes on Realtor.com with six photos are viewed 558 percent more than those without a photo."

Yet far too many homes are appearing online from MLS feeds with one or fewer photos to market the home to consumers.

Are Realtors simply failing to adjust from marketing through their MLSs to other Realtors to marketing directly to consumers using their MLS feeds? Are they still stuck in the days when MLS books would only allow one photo?

No, says Dalton.

"The problem is the history of the real industry," he explains, "There is still a profound predisposition on the part of real estate professionals to prevent consumers from receiving information. That was okay when the MLS was proprietary, but today Realtors cannot afford to frustrate consumers because there are too many other places where they can get the information they want."

From get to give, to give to get

What needs to occur, advises Dalton, is a shift away from getting information about consumers giving them the information they want to get them.

The old way, he says, is to put a little classified ad in the paper. "We would never advertise properties," he says, "we were advertising ourselves to get buyers by giving limited information about the property. How can you characterize any property in black and white and abbreviations?"

That may explain why most buyers, over two-thirds by NAR's last count, are heading to the Internet to look at homes and using newspapers less. The data on the Internet, as supplied by willing Realtors, is detailed, rich and satisfying, with multiple photos, property information, related links and much more that makes black and white newspaper ads pale in comparison.

Yet, many Realtors still believe they are properly marketing their seller's home on the Internet with a single photo or no photo.

"A seller doesn't say 'Show me how you are going to Website my home,'" says Dalton, "they say, 'Show me how you are going to sell my home.'"

And woe to Realtors who believe that they are doing a kindness to an undesirable listing by limiting photos.

"Hiring an agent like that is like hiring a wedding photographer to photograph your daughter's wedding, and he tells you he's only going to take one photo because your daughter is ugly," points out Dalton. "Why would you do that to a seller? All the seller has to do is visit Realtor.com to see the home, and there are other homes that are being marketed with multiple photos by other Realtors."

Dalton says that the situation is improving, with fewer listings posting to Realtor.com without photos or with only single photos, but he declined to give supporting data.

Published: March 8, 2004

Use of this article without permission is a violation of federal copyright laws.




Blanche Evans is the award-winning senior editor of Realty Times, the Internet's leading independent real estate news service. She is featured daily on the Realty Times Video Network in the "Realty Viewpoint" segment.

Blanche has been named one of the "25 Most Influential People In Real Estate" by REALTOR Magazine, and has been twice recognized as a "notable." In 2005, she was named "Top Reporter Covering the NAR" by Delahaye-Bacon's.

Blanche is a renowned author of five real estate books. Her newest, Bubbles, Booms and Busts: Make Money In Any Real Estate Market, McGraw-Hill, was rave-reviewed by The New York Times. She was also selected from hundreds of real estate experts to contribute to Donald Trump's book, Trump: The Best Real Estate Advice I Ever Received: 100 Top Experts Share Their Strategies, Rutledge Hill Press, and is featured on page 68.


Order Now
Review - Honors

In 2006, Blanche was selected among scores of candidates to author two consumer real estate guidebooks for the National Association of Realtors: The NAR Guide to Home Buying, and The NAR Guide to Home Selling, Wiley & Sons. She is currently planning two new books for the NAR and its members.

     

Known for her keen insight into real estate industry issues and for her ability to make complex subjects easy to understand, Blanche is a sought-after keynote and continuing education speaker. Real estate organizations from MLSs, to brokerages, to franchisors, to associations hire her to provide up-to-the-minute analysis of real estate industry news and advice on how to improve revenues. Her passionate delivery, peppered with stinging wit, is a huge hit with audiences and fans.


Don Klein, CEO Greater Nashville Association of Realtors, Blanche Evans, Richard Courtney, president 2007, GRAR

"The GNAR membership meeting last week featured Blanche Evans as the keynote speaker. Her comments and insights resonated extremely well with those in attendance and we have had many requests for copies of her PowerPoint Presentation. She was a terrific part of the membership meeting and convention program!" - Don Klein, CEO Greater Nashville Association of Realtors

Coverage from WSMV, Nashville - 8-14-2007

That Interview Guy - Get Inside The Head Of Today's Generation
2007 AE Institute Session - To purchase
2006 AE Institute Session - Parts 1 2 3 4 5 6 7 8 9
HouseValues Mastermind call - Parts 1 2

Blanche's fireside chat with Jeremy Conaway, HAR - Click here.

To contact Blanche, email her at .

For more articles by Blanche, click here.







Real Estate News Network

You must enable Javascript to view the Video content and Navigation on this site.






Spotlight

Ultimate Real Estate Success SuperConference

Today's Headlines

Learn the Art of the Short Sale



Expert tools. First-hand knowledge.



Agent Publicity | Market Conditions Interview | Local Market Conditions | Video Newsletter | Article Index | Terms & Conditions | Privacy | Contact Us

Copyright © 2004 Realty Times®. All Rights Reserved.