How well do you know your buyers and sellers? Use these stats to up your lead generation game, and feel free to share them on your own agent blog!
I was catching up with National Association of Realtors on Twitter and came across this stat they recently twitted.
We see tons of real estate stat roundups and trends come out at the beginning and end of each year.
But how easy is it to turn them into usable data to buff up your lead generation and marketing strategies for the coming months?
To get you ahead of the game, I dug up 5 real estate buyers and sellers stats that you can use to empower your daily efforts and future-proof your business.
No agent left behind!
Let’s check them out –
2016 Young – Buyer Stats
Let’s break these numbers down.
Nearly ALL young-buyers enlisted the help of a real estate pro like you to complete the home-buying process.
We millennials may be young and entitled, but we’re not dumb!
This stat clearly proves that people of all buying generations are still investing in the help of agents.
And this isn’t going to change this year or the next.
Also, it’s 35% cheaper to buy than rent in America. #JustSaying
Why do you need to know this numbers?
Well, you need to know who your leads are and you you’re talking to online.
Making yourself available to subsets like these is only going to make your services all the more valuable.
Buyers and Sellers Agent Retention
Not too bad, eh?
My first question to you as a real estate agent ready this, is: Are you surprised by these stats? If so, did you expect those numbers to be higher or lower?
Really, 70% is good.
My next question is that when comparing the buyers and sellers numbers here, did you expect them to be so close?
These stats matter.
Especially considering how much of the market first-time buyers are making up.
Your happy clients are your hottest leads.
When it comes to being a seller’s agent, they need that personal touch.
Sure, this is true for any real estate transaction, but selling a home can be a stressful, scary and overall emotionally-daunting process.
It makes perfect sense that the majority of sellers found their agent through a personal referral.
This is as close to a promise as they can most likely get.
So, does this mean that you’ve been wasting your time targeting sellers on Facebook?
If anything, you’ve got another leg up.
Especially if your testimonials are shining nicely on your real estate website.
FSBOs Are Still Here…Just Barely
Good news, right?
Here are the methods The National Association of Realtors found FSBOs use to market properties:
- Yard sign: 33%
- Friends, relatives, or neighbors: 21%
- Online classified advertisements: 10%
- Open house: 21%
- For-sale-by-owner websites: 7%
- Social networking websites (e.g. Facebook, Twitter, etc.): 9%
- Multiple Listing Service (MLS) website: 13%
- Print newspaper advertisement: 3%
- Direct mail (flyers, postcards, etc.): 2%
- Video: 1%
- None: Did not actively market home: 41%
And here’s what they find most difficult:
Getting the right price: 18%.
Remember that FSBOs are not a lost cause.
Many of them will eventually sign on with an agent.
They just may need a nudge in the right direction.
Knowing these stats can definitely help you get the conversation started with them.
Here’s a few more things they struggle with during the process:
- Preparing/fixing up home for sale: 13%
- Understanding and performing paperwork: 12%
- Selling within the planned length of time: 3%
- Having enough time to devote to all aspects of the sale: 3%
First-Time Buyers Dominate
We’ve pretty much drove this home in every stat.
And it’s really the most important takeaway from this buyers and sellers roundup.
Buyers, and sellers, are particularly cautious in today’s market. And it really is completely up to you to see them through the transaction relatively unscathed.
You’ve now also got a more clear understanding of the type of content that is going to be more valuable to your leads.
Have you made a guide for first-time home buyers that you can giveaway on your site?
Just click file, copy, save it to your own drive and you can swap our our sample info for your own.
Before we finish up here, I have two more staggering statistics for you that will make a huge impact on how you reach these audiences.
91% of realtors use social media to some extent
“to some extent”
Why isn’t this at 100%???
Social media is
While some traditional marketing strategies may still be of use to you, they’ll never compare to what you can achieve in the digital world.
But, this isn’t the statistic that left my jaw on the floor.
It’s this revelation –
Only 9% of Realtors use social media to market their listings
Why is this number so low?
AND what the heck are the other 91% doing online?
While you shouldn’t rely on your social networks alone to promote your listings, you should definitely be marketing them on these platforms.
It couldn’t hurt is all I’m saying.
Plus, with 52% of all home buyers using an iPhone in their home search, you can be they’re going to be swiping through Facebook.
What stats would you add to this list?
I hope these have been helpful for you!
This should give you enough information to start your own hyper-localized research so you can get a better idea of who you’re serving in your community and what kind of clients are making up the current market.
Feel free to share these stats on your own blog as well!
Owner & Operator,
The Elite Group
Largest Home Inspection Company in North America
Best Selling Author “Secrets Of Top Producing Real Estate Agents: And How To Duplicate Their Success.”