Social Media – Emerging TrendsWebinar

Jessica LautzOctober 20, 2010

2010 Member Profile

Methodology

• 93 question survey• Mailed hard copy to 58,022 members• Emailed copy to 43,869 members• Received 6,830 surveys• Response rate of 6.7 percent• Incentive a drawing for $$• Oversamples: 8 states and 2 locals

Changes in Technology Communication Source 2009 Survey 2010 Survey

Realtor website 60% 63%

Realtor blog 7 10

Realtor blog for members 29 and younger

6 18

Use of social media 35 51

Use of social media for members 50 to 59

32 52

Blog Use

ALL REALTORS® AGE2010

Survey2009

Survey 29 or younger 30 to 39 40 to 49 50 to 59 60 or older

Have a blog 10% 7% 18% 16% 12% 9% 6%

Do not have a blog 77 80 63 67 71 78 85

Do not have a blog, but plan to in the future

12 13 17 16 16 12 8

Social Media Use

ALL REALTORS® 29 or younger 30 to 39 40 to 49 50 to 59 60 or older

Yes 51% 79% 72% 63% 52% 34%

No 36 12 19 25 36 51

No, but plan to in the future

12 8 8 12 11 14

Firm Web Presence

Firm has Web site; 89%

Firm does not have Web site; 8%

Firm does not have Web site but plans to in the fu-

ture; 2%

Median Amount Spent on Website

In 2009

In 2008

Broke

r-Owner (

without s

elling)

Broke

r-Owner (

with se

lling)

Associa

te Broke

r

Manager (

without s

elling)

Manager (

with se

llling)

Sales A

gent$0

$50

$100

$150

$200

$250

$300

$350

$400

$220$240

$370 $380

$300

$230$250

$170

Inquiries from Website

ALL REALTORS®

Broker-Owner (without selling)

Broker-Owner (with selling)

Associate Broker

Manager (without

selling)Manager

(with sellling) Sales Agent

None 27% 16% 24% 20% 17% 19% 31%

1 to 5 inquiries 35 25 31 36 31 33 37

6 to 10 inquiries 12 4 10 15 19 12

11 to 20 inquiries 9 6 10 10 10 6 8

21 to 50 inquiries 7 12 10 7 8 10 6

51 to 100 inquiries 4 6 6 5 7 2 3

More than 100 inquiries 6 31 9 7 26 10 4

Median (inquiries) 4 20 4 4 12 5 3

Inquiries from Website by the Amount Spent to Maintain

ALL RE-ALTORS®

None Less than $100

$100 to $499

$500 to $999

$1,000 or more

0

2

4

6

8

10

12

14

16

4

0

34

5

16

Percent of Business from Website by the Amount to Maintain

ALL RE-ALTORS®

None Less than $100

$100 to $499

$500 to $999

$1,000 or more

0%

2%

4%

6%

8%

10%

12%

14%

16%

18%

20%

5%

0%

4%

6%

9%

19%

2010 Profile of Home Buyers and Sellers

Methodology

• Survey conducted with recent home buyers who purchased a home between July 2009– June 2010

• Seller information gathered from those home buyers who sold a home

• Mailed 111,004 questionnaires • Received 8,449 responses • Response rate of 7.9%• Names obtained from Experian

First Step in Home Buying

All BuyersFirst-time

Buyers Repeat BuyersLooked online for properties for sale

36% 32% 41%

Contacted a real estate agent 19 16 22

Looked online for information about the home buying process

11 15 8

Contacted a bank or mortgage lender

8 10 6

Drove-by homes/neighborhoods 7 6 9

Frequency of Use of Different Information Sources

Internet

Real estate agent

Yard sign

Open house

Print newspaper adver-tisement

Home book or magazine

Home builder

Relocation company

Television

0% 10% 20% 30% 40% 50% 60% 70% 80% 90% 100%

74

69

22

12

9

6

5

1

1

15

19

35

33

27

18

11

2

6

11

12

44

55

64

77

84

97

93

Frequently Occasionally Rarely or not at all

Usefulness of Information Sources

Real estate agent

Internet

Home builder

Yard sign

Open house

Relocation company

Home book or magazine Print newspaper adver-

tisementBillboard

Television

0% 10% 20% 30% 40% 50% 60% 70% 80% 90% 100%

81

81

42

41

39

27

21

24

17

15

17

18

48

53

53

59

63

62

67

65

2

1

11

6

8

14

16

14

16

20

Very Useful Somewhat Useful Not Useful

Value of Website Features

Very Useful Somewhat Useful Not UsefulDid not use/Not

AvailablePhotos 85% 14% 1% 1%Detailed information about properties for sale 83 16 1 1Virtual tours 61 27 5 6Real estate agent contact information 45 35 10 10Interactive maps 43 35 10 12

Neighborhood information 40 43 9 8

Pending sales/contract status 33 35 16 16Detailed information about recently sold properties 30 39 16 15Information about upcoming open houses 21 34 22 23

Websites Used by Age of Buyer

AGE OF HOME BUYERAll Buyers 18 to 24 25 to 44 45 to 64 65 or older

Multiple Listing Service (MLS) Web site 59% 57% 60% 58% 55%REALTOR.com® 45 47 46 44 42

Real estate company Web site 43 45 44 43 38

Real estate agent Web site 42 41 44 41 40Other Web sites with real estate listings 30 38 33 26 24

For-sale-by-owner Web site 15 12 16 14 10Homes.com 11 15 11 12 6

Newspaper Web site 8 12 9 7 8

Real estate magazine Web site 4 5 4 4 6Social networking Web sites (e.g. Facebook, MySpace, etc.) 2 2 2 1 1Video hosting Web sites (e.g. YouTube, etc.) 1 1 1 1 *

Actions Taken from Result of Internet Search

All Buyers First-time Buyers Repeat BuyersWalked through home viewed online 45% 44% 47%

Found the agent used to search for or buy home 29 30 29Drove by or viewed home 21 22 20

Where Buyer Found Their Home

2001 2003 2004 2005 2006 2007 2008 2009 20100%

5%

10%

15%

20%

25%

30%

35%

40%

45%

50%

Real estate agent Internet Yard sign/open house signFriend, relative or neighbor Home builder or their agent

Sellers’ Method to Market Home

All HomesListing on the Internet 91%Yard sign 79Open house 56Print newspaper advertisement 28Real estate magazine 25Other Web sites with real estate listings 25Direct mail (flyers, postcards, etc.) 16Video 12Social networking Web sites 5Television 2Video hosting Web sites (e.g., YouTube, etc.) 2Other 5

Where to find NAR Research…and make social media easier

• FaceBook: http://www.facebook.com/pages/NAR-Research/73888294183

• Slide Share: http://www.slideshare.net/NARResearch/ • Twitter: http://twitter.com/#!/NAR_Research • Active rain: http://activerain.com/blogs/nar_research• Real Town:

http://www.realtown.com/NARResearch/blog

Where to Find Your Copy

Via the “Right Tools, Right Now” webpage:http://bit.ly/E03fG

OR

Via the Realtor.org Store:http://bit.ly/koEI4

OR

The REALTOR® Booth at Annual in New Orleans

Listen to a Recording of Today’s Presentation:

Note: Webinar starts approximately eight minutes in:

http://bit.ly/afdKES