I was reading a blog recently from an agent who has been in the "real estate business" for "many years" (a seasoned veteran). What was interesting was her observation of how real estate has changed and evolved over the years. It used to be all about "contacts" and who you know, who you golf with, what boards you sit on, etc., however in the new Internet Age of real estate, personal contacts don’t matter nearly as much as they used to. To succeed in real estate today, particularly as a Buyer's agent, it is critical that you establish and maintain a on-line Internet presence. This involves much more than simply having a Web site, which most real estate agents have. Unless your website (and you as a Realtor) can be "found" on-line, it is unlikely buyers looking for a knowledgeable Realtor who knows the market they are interested in will "find you" on-line.
Consider this data from the National Association of REALTORS® (NAR): According to the latest NAR Profile of Home Buyers and Sellers 2009, 90 percent of buyers used the Internet as an information source in their home search, up 30 percentage points during the past six years. It’s hard to look at this data and ignore the importance of having an effective on-line website where home buyers can find and connect with you.
The importance of having an effective on-line website, that can be "found" is also important for sellers in getting their listings exposed to potential buyers. The days of buyers driving different neighborhoods and noting the real estate agent and phone number on yard signs is being replaced by the use of the Internet. Now, rather than calling the agent on the yard sign, buyers are more than likely take note of the address, go home and try to find the listing on the Internet. They know that rather than take the time to meet with a Realtor to show them the property, they can easily look it up on the Internet, find pertinent information such as sq. ft. number of rooms, price, etc., and view interior photos. Then, if they like what they see, they will more than likely call or email the real estate agent they find on-line, rather than the agent who's name is on the yard sign, to request additional information on other similar homes for sale, market comps, etc. prior to making a viewing appointment.
The business of real estate is definitely changing, and it is critical that agents recognize this and develop an effective on-line Internet presence to connect with potential buyers, as well as more effectively market their client's listings. The "years of experience" an agent has been in real estate is no longer a major decision factor when choosing an agent to work with. In fact, in many cases, having many years of experience is working to their disadvantage if they have had a difficult time making the transition to the Internet age of real estate.