Accepting a New Era of Real Estate Marketing
When the idea of internet marketing for real estate came about, many real estate professionals were averse to the change, still clinging to the tried and trusted methods of traditional marketing. While many were quick to go online, the idea of accepting the internet as a serious tool to help boost business and convert leads was still hard to grasp. Most felt that internet marketing and social media marketing were a fad and a “new age” tactic with little potential.
Fast forward to today and most real estate agents understand they have to use the internet if they’re going to be successful. The challenge has now become how they should use the internet—not if they should—because concepts such as inbound marketing, social media marketing, drip email marketing, search engine optimisation, and more can become overwhelming.
Pros of Internet Marketing
Today, the mind-set has shifted drastically and real estate professionals and developers across Australia, the U.S., India, and other countries are using digital media to market real estate. The acceptance of internet marketing has happened, in large part, because real estate professionals and developers have seen that it’s very successful in converting leads. Today, nearly all serious real estate agencies and developers have websites and social media accounts to try to capitalise on attracting those leads.
For buyers, the internet has revolutionised how they shop for houses. Buyers can gather knowledge online, make comparisons, and read reviews before even viewing a home in person or selecting a real estate agent. They may not even view a home in person, but may take a virtual tour or watch a walk-through video. The rise of the internet has had a drastic impact on how buyers approach home buying; buyers enter the process more informed than ever before.
With the increase in internet marketing, real estate developers and professionals are vying for the attention of buyers. Internet marketing is becoming a highly effective part of developers’ overall marketing budget and one that can account for as much as 25-30% of their budget. They’re very aware that their websites, as opposed to their sales offices, are their new calling cards, which is why they’re investing heavily into making them more attractive and user-friendly.
Cons of Internet Marketing
While there are many benefits to internet marketing, there are also cons. Due to the fact that smaller developers and real estate agencies launched websites early on, but failed to update them, many unavailable properties still remain online and erroneous information clouds the buyer’s search. Many first-party sellers also neglect to remove properties that are no longer available, cluttering up the listings of current properties for sale.
Individuals who have had a poor experience—whether due, in part, to the agency, developer, or simply the circumstances surrounding a transaction—may put a nasty review online that harms the agency’s or developer’s reputation. Others may publish false information that hasn’t been fact checked, which may create problems later on.
Real estate has and always will be a people business, because there is a human element one cannot take out of the process of viewing a home and negotiating a price, even if the viewing and negotiation happen virtually.
Though there are, and will likely always be, causes for concern, internet marketing remains a powerful tool in real estate and is sure to become an even more powerful one.
If you know your internet marketing isn’t at the level it should be, or you need a more attractive and user-friendly website, reach out to us via our contact page.