Mike Andrew on Grant Thorpe Business Coach Teleseminar

I must give a big thank you to Grant Thorpe who invited me to be a guest speaker this morning on his international teleseminar. I first met Grant when he and I appeared together in September when we hosted a seminar series along with Ian Grace, and I would like to do more appearances with him and we are planning to do just that hopefully in the next few months, so stay tuned for that announcement. However, the reason for this post today is to provide all of Grants listeners and my readers with some of the updated stats that were discussed this morning. We discussed during the teleseminar the changing nature of the internet consumer and I used the following stats from the Sept 2008 CAR Home Buyers Survey to highlight how this is changing consumer habits.

Most Real Estate Agents view the Internet as a buyers tool and will use traditional advertising to impact the seller, in other words use press to list and internet to sell. Well I would encourage you to rethink that strategy, here are the latest research stats on Vendors vs Buyers:

  • 84% of Sellers search for their real estate agent on the Internet vs 78% buyers – What does this mean for you? You need now to really focus on using the Internet as a listing tool and make sure that you have complete and up to date information on your listings. You need to make sure your office and agent profiles on all the major portals are complete and up to date. Give some thought to your on line reputation because now the consumer will!!!! 

 

  • 43% of sellers found their agents in 2008 from a previous transaction with that agent a drop of 10% on 2007, however the Internet as a source of agent selection went from 6% in 2007 to 33% in 2008. The impact of “For Sale Signs” in this decision decreased from 6% in 2007 to 2% in 2008.

The impact of traditional advertising on vendors is decreasing at a rapid rate, hence the drop off in press readership. I refer you to a previous post https://mikeandrewrealestate.wordpress.com/2008/09/01/traditional-vs-on-line-marketing-the-big-disconnect/ about the disconnect in advertising budget spend. 

Also check out https://mikeandrewrealestate.wordpress.com/2008/10/09/car-2008-survey-of-california-home-buyers-released/ for more research stats from the C.A.R’s Sept 2008 survey.

I’ll also be interviewing Grant Thorpe for one of my podcasts over the next week so stand by for that, and you can check his web site out at http://www.grantthorpe.com

If you would like any additional information on this survey then please email me or send me a comment, I’d love to hear from you.

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