Online presence, aside from making you look cool, can bring real and measurable value to your real estate business.
If you’re a licensed real estate broker, one of the best and most effective marketing strategies you can use to boost your online presence. And why wouldn’t you? Data from the National Association of Realtors show that up to 90 percent of all American homebuyers start searching for a property online.
Given Filipinos’ affinity with the Internet (indeed we are the world’s social media capital), more and more Filipinos are turning to the Internet in their search for their dream home. This only shows how powerful the Internet can be when utilized properly.
Lamudi lists these five benefits of taking your real estate business online.
- Internet Marketing Is Cheaper
Putting up advertisements costs a lot of money. Even more so if you plan to utilize nationally distributed publications. In fact, a full-page advertisement in a major glossy costs between Php200,000 and Php300,000, and major dailies charge about Php400,000 for an in-page, full-color advertisement. Sure, these publications have national reach, but the problem with them us that can’t measure their performance.
Unlike traditional marketing, you can measure the performance of online campaigns, be it on Facebook, Google Ads, or even your own website or blog. You will know how many users were reached by your advertisements, enabling you to calculate the conversion rate and the return of your investment.
- The Internet Speeds up the Process
According to the NAR, the Internet has helped reduce the amount of time needed to search for home. Imagine the benefit this will bring to the broker. Because the Internet has given the buyer the opportunity to search and choose a home without the help of a broker, once they inquire it means they have already made up their mind. This means fewer appointments to make and property viewing to schedule, saving both the homebuyer and the broker precious time.
- Tech-Savvy Buyers Are Better Informed
The Internet is a great equalizer. Because information is literally a mouse click away, homebuyers are now more knowledgeable about the real estate market. Hence, they also demand a faster and more efficient buying process. The Philippines’ Internet population is currently estimated to be 37 million; however, the growth jumped a staggering 531 percent in the last five years, according to the Global Web Index. This means that the number of Filipinos going online is only expected to grow further, which presents a huge opportunity for Internet marketers.
- The Internet Is Far-reaching
Listing your properties online can potentially get you better mileage (it isn’t called the World Wide Web for nothing). Hence, a real estate listings website such as Lamudi with a global reach can bring your business more bucks as it will enable you to tap into a foreign market.
- The Internet Is More Interactive
Unlike traditional media, websites are not burdened by space restriction. This will enable you to be as creative and comprehensive with your property listings as possible. You can upload virtually unlimited number of photos and write longer and more detailed descriptions. Some even offer videos or 360 photography tours, which make your content more engaging.