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 online marketing plan. An overwhelming majority (87%) of recent home buyers in the US say they used the internet as an information resource during their home-buying process and nearly one-third say they first learned about their newly purchased home from an online channel, according to a study from the National Association of Realtors (NAR). Only 2% found homes in the local newspaper; 9 of 10 home shoppers 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 find interested buyers. When a buyer is deciding where to live, you want your home included in the search results. A neighborhood consisting of senior citizens and retired people, without a designated school bus stop close by, would not suit a family with school-aged children, even though the house might meet their other criteria. A bachelor may not be interested in
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