The Internet Continues A Steady March Into Real Estate
We have all heard the news about the sheer volume of buyers and sellers who are now coming from the internet. The interesting news is how little market share even the top 10 real estate searches garner. Case and point:The Top 10 Internet Searches For Real Estate Sites
- REALTOR.com 1.56%
- Remax 0.91%
- Real Estate 0.47%
- Apartments 0.40%
- Homes for Sale 0.37%
- Century 21 0.35%
- Zillow.com 0.34%
- Zillow 0.33%
- Realtor 0.31%
- For sale by owner 0.30%
Sourced from http://money.cnn.com/news/newsfeeds/articles/prnewswire/LATH09013122007-1.htm
The great news for real estate companies is no one not even the National Association Of Realtors trade organization owns the market on the internet. The top 10 searches comprise a miniscule 5% of the market. It is interesting to note how many commercial real estate buyers and sellers are now coming from the internet. It also demonstrates the enormous opportunity for commercial brokerages to grab a significant portion of the market.
I have personally guided my commercial real estate office away from print media and onto the internet. While we still utilize print we now spend more advertising dollars on the internet than any other advertising medium. Many if not most commercial sales professionals have been very slow to adopt an internet strategy unlike their residential colleagues. Today your commercial brokerage must have a dynamic and fresh internet strategy or you should look for a new broker who can advertise your property to a global market and find acquisitions that are “off market”.
