With increased availability of communication tools such as tablets and smartphones, it is easier now, than ever before for consumers to have access to an unlimited wealth of information. Last year, the number of people worldwide using the internet hit the 2 billion mark. At the end of 2011, there were 6 billion mobile subscriptions, estimates The International Telecommunication Union (2011). That is equivalent to 87 percent of the world population! The increase in popularity of these online tools extends to the real estate business, and particularly how home buyers and sellers expect to to be able to find information.
According to the 2010 National Association of REALTORS® Profile of Home Buyers and Sellers, 89% of all homebuyers used the Internet as an information source. (Source: 2010 National Association of REALTORS® Profile of Home Buyers and Sellers.) The most frequently used website is the multiple listing service (MLS), which provides the most up-to-date information on new listings and price changes. The national aggregator websites are also a great source but can take a while to update recent information.
Social media is now making head ways in the home buyers/sellers search. Promotions and advertisements have become a great way for businesses to reach out to younger consumers who are more likely to be using social platforms in their search. 90.5% of realtors use social media to some extent. The top places where realtors place their listings are REALTOR.com, their broker’s website and Trulia. Source: 2011 REALTOR® Technology Survey