Sell
More Homes by Letting Buyers Explore All their Choices
Article by Paul Eastwood, Blue Fire Group
March 2005
Making Inspired Connections Means More Closed Deals
The trick to selling more real estate is by doing an even better job of matching up listed properties with buyers. It’s a form of matchmaking that the best agents have polished to perfection. New technology and tools can now provide solutions that automate these services for home buyers, and in doing so create more opportunities for real estate agents.
The Internet has substantially changed the way real estate is bought and sold. According to the National Association of Realtors (NAR) 70% of real estate firms have a website. And up to three-quarters of buyers locate their agent online. Coupling that with the high probability that a buyer will stick with their first agent, the agency website plays a vital role in making sales anymore.
Simply putting up a website is no longer enough to stand out from other real estate agents. But having a buyer-oriented one that gives them a more active role certainly can. Especially when it speeds up and simplifies the buyer’s search for their ideal home. While the buyer is narrowing down the options online (via the agent’s website), their agent can focus on high-value tasks and guide the sale in other ways - communicating with sellers, negotiating terms, facilitating the transaction, etc.
More People Trust the Internet to Research Major Purchases
like Homes
It used to be that people were afraid to consider major purchasing decisions
online. Increasingly, people go to the Internet and research their choices
before deciding. The public’s increased confidence about online information
reflects three trends:
- Two-thirds of US Internet users have more than three years experience online
- Websites keep getting better at giving people what they want - in the way they want it
- Search tools have become more sophisticated, so people can automate the search for the information they’re looking for
Even the most traditional sales venues find they must respond to buyers’ online preferences. Internet-savvy buyers are looking for websites that simplify finding the property they want. When it comes to real estate, online buyers tend to be better educated and have higher incomes than typical lookers.
Research based on used car sales and hiring an attorney demonstrate that people increasingly turn to online resources, before making expensive purchases and commitments. The Internet has replaced newspaper classifieds as the primary place where people go for used-car purchase information. And predictions indicate that will soon be true for real estate purchases as well.
Allowing Buyers to View Every MLS Listing Builds Loyalty
and Sales
Traditionally, the public is not permitted to look into the MLS (Multiple
Listing Service) database of local listings. That’s reserved for licensed
brokers, who are members of the National Association of Realtors (NAR). Buyers
had to rely on their real estate agent to tell them what was available (given
their desires and resources).
Times have changed. My Buying Buddy™ lets buyers conduct their own online searches, with direct access to the same listings as their broker. The software system provides a comprehensive, easy-to-use home search service of the MLS. My Buying Buddy automates many tasks required to find a perfect match. This buyer-friendly system was developed by Blue Fire Marketing, http://www.bluefiremarketing.com But it’s sales-agent friendly as well, since it makes them more efficient.
System Benefits and Features for Buyers
- Locates homes in the MLS according to buyer’s criteria
- Saves properties locate in a search, so buyers keep track of homes they like
- Saves their search criteria from one online session to the next
- Shows featured listings
- Provides email notification of new listings to registered buyers
- Sends buyers email alerts about changes on homes of interest – daily or weekly
The system is already available in several Colorado markets (Denver Metrolist, Pikes Peak PPAR, North Colorado IRES, Summit Association SAR), the San Francisco Bay area (Contra Costa MLS), North Texas (NTREIS), Indianapolis (MIBOR) and many more are coming aboard in the near future.
Solving Buyers’ Challenges bring Others – Welcome
Ones
One of the first Denver Real Estate agencies to incorporate My Buying Buddy
into their website (Bandy Homes, http://www.bandyhomes.com ) reports that
the increased number of leads has changed the way it operates. My Buying
Buddy brings in so many front-burner buyers that managing them (along with
the increased staff) represents their new test. One they’re glad to
tackle. Who wouldn’t?
Paul Eastwood
Blue Fire Marketing Group
My Buying Buddy, a total marketing solution for Realtors® http://www.mybuyingbuddy.com
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Agents, Teams and Brokers.
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