CHAPTER 11 Finding Buyers
You now understand the importance of pricing, and how real estate today is largely driven by technology. How do you find buyers? The two most valuable tools for finding ready buyers are the previously covered strategic pricing and an aggressive marketing plan. According to a recent National Association of Realtors® survey, buyers found the home they purchased from the following sources: • Internet: 52% • Real estate agent: 29%
• Yard sign/open house sign: 6% • Home builder or their agent: 6% • Friend, relative, or neighbor: 5% • Directly from sellers/Knew the sellers: 2% • Print newspaper advertisement: 1%
The same survey found that 88% of buyers purchased their home through a real estate agent or broker — a share that has steadily increased from 69% in 2001. 9 out of 10 home buyers use the internet to search for properties using syndicated realty websites. Your home can be seen from anywhere; however, you shouldn’t rely on exposure alone. Smart agents will feature your home on websites directed at buyers. Website search functions should filter results by using criteria such as schools, neighborhoods, and subdivisions. Buyers look for a house in a place that fits their lifestyle. The dedicated website should provide a wealth of information to buyers regarding proximity to schools, shopping centers, restaurants, and entertainment. This is an excellent way to 71
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