CAR Research - Internet Buyers

Posted by David Bennett Wed, 07 Jun 2006 14:08:00 GMT

The California Association of Realtors’ research on Internet buyers provides the following information on the reasons for satisfaction with the agent they used:

  • Always quick to respond
    • 97% - Internet buyers
    • 37% - Traditional buyers
  • Worked hard on my behalf
    • 75% - Internet buyers
    • 41% - Traditional buyers
  • Helped find the best home for me
    • 52% - Internet buyers
    • 58% - Traditional buyers
  • Listened to what we needed
    • 30% - Internet buyers
    • 63% - Traditional buyers
  • Negotiated a good deal on my behalf
    • 52% - Internet buyers
    • 36% - Traditional buyers
  • Kept me up to date on the transaction
    • 20% - Internet buyers
    • 41% - Traditional buyers
  • Made sure changes/repairs were taken care of
    • 10% - Internet buyers
    • 30% - Traditional buyers

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CAR Research - What Satisifes Buyers

Posted by David Bennett Wed, 07 Jun 2006 14:17:00 GMT

In the Internet buyer research done by the California Association of Realtors, consumers reported on their level of satisfaction with various aspects of the home buying process.  These ratings are on a scale of 1 to 5 with 5 being "Most Satisifed" and 1 being "Least Satisifed"

  • Information on neighborhoods, schools, crime, etc.
    • 4.73 - Internet buyers
    • 4.23 - Traditional buyers
  • Understanding the home buying process
    • 4.62 - Internet buyers
    • 4.28 - Traditional buyers
  • Your real estate agent’s negotiating skills
    • 4.57 - Internet buyers
    • 4.16 - Traditional buyers
  • Your real estate agent’s assistance in searching for a home
    • 4.72 - Internet buyers
    • 4.10 - Traditional buyers
  • How well your real estate agent kept you informed
    • 4.64 - Internet buyers
    • 3.93 - Traditional buyers
  • Overall process of finding a home
    • 4.82 - Internet buyers
    • 4.13 - Traditional buyers
  • Value recieved for what you paid your real estate agent
    • 4.11 - Internet buyers
    • 4.18 - Traditional buyers
  • Overall satisfaction with your real estate agent
    • 4.88 - Internet buyers
    • 4.31 - Traditional buyers

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Other Research - Consumer Pet Peeves on the Internet

Posted by David Bennett Wed, 07 Jun 2006 14:27:00 GMT

According to a survey conducted by Hostway Corporation, a provider of web hosting services, consumers shared the following pet peeves:

  • 93% said pop-up ads are either annoying or extremely annoying
  • 89% are bothered by the need to download and install additional software
  • 83% resent registration log-on pages that block access to online content
  • 70% say they will not return to a website after encountering one of these pet peeves

Customers are warning, "You are going to lose my business if your website experience is annoying."  The overwhelming majority of consumers will avoid a website that requires up-front registration.

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Other Research - Most Important Reasons for Visiting a Website

Posted by David Bennett Wed, 07 Jun 2006 14:39:00 GMT

A recent survey conducts for a large firm on the west coast reports the following findings on the most important reasons consumers visit real estate web sites:

89% - Looking at property photos

85% - Property search

77% - Mapping a property

31% - Financing information

29% - Finding an agent

11% - Career information

The survey also found about 91 percent of respondents said they most enjoyed using the Internet for their home search because "it saves time," while 45 percent said "it empowers you in the transaction."

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Use existing research

Posted by David Bennett Wed, 14 Jun 2006 17:31:00 GMT

Listen, listen and listen. That’s it, in a nutshell. Your past customers want you to listen, and your future customers want you to listen. They want you to tune in and hear what is on their minds.
 
There are a number of ways in which you can listen to what consumers are saying. Review the survey results from NAR, CAR, RECON and leading consultants.
 
There is a wealth of research available on what buyers and sellers have been saying. Take advantage of the work that has been done and make this your starting point.

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