More New-Home Buyers Using the Internet to Find Homes
More potential new-home buyers are using the Internet to find homes and communities, according to a survey by NAHB’s Institute of Residential Marketing (IRM) and Move.com™, a consumer-oriented Web site with home listings, rentals, new-home plans and tools and professional connections that consumers need before, during and after a move. The survey was conducted by Harris Interactive.
According to the survey, 27% of consumers who responded visit builder Web sites when searching for new homes and 26% use Internet listing services when they begin looking for new homes.
Consumers also rated these Web resources, along with contacting Realtors®, as “the most useful and important information sources in finding and evaluating new-home opportunities,” according to the survey.
Consumers looking for newly-constructed homes are spending half their time online, according to the survey. In addition, 20% of online home buyers said that if they could only recommend one source to a fellow home buyer, it would be Internet listing services, while 17% said they would recommend builder Web sites.
Realtors®, at 28%, were the most recommended single-source of new home information by consumers, according to the survey respondents.
The survey also indicated that builders believe that home buyers rely primarily upon signage, newspapers or home magazines and Realtor® promotions to find new homes. Builders said that these more traditional forms of marketing and awareness generate the highest quantity of leads. They also said that the highest quality leads they receive were generated through online resources.
Even though builders acknowledged that many more quality leads come from the Web, they reported that they spend less than one-fifth of their marketing budgets on Internet-based marketing.
“These facts all point to the conclusion that there is an enormous opportunity and upside for builders to produce more effective and integrated online marketing programs, thus reaching a wider range of home buyers and providing them with a more satisfying home-search experience,” said the survey authors.
More Electronics-Oriented Research Planned for 2006
IRM will conduct research this year on how builders and other building professionals can more effectively and profitably collaborate with residential electronic systems contractors (RESC) as part of this years IRM Research Initiative. The research will be conducted as a joint venture with the Custom Electronics Design & Installation Association (CEDIA), an international trade association of companies that specialize in designing and installing electronic systems for the home.
S. Robert August, MIRM, the president and founder of S.Robert August & Company, Inc., a national marketing and public relations firm based in Denver, will oversee the research project for IRM.
To learn more about the IRM Research Initiative and how to submit proposals, visit www.nahb.org/MIRM.
Move.com™ was formerly Homestore.com®.
Subscribe to Sales + Marketing Ideas Magazine for Cutting-Edge Information
For additional cutting-edge sales and marketing information, subscribe to NAHB’s Sales + Marketing Ideas Magazine (www.smimagazine.com).
Click here to learn about membership benefits of the National Sales and Marketing Council and the Institute of Residential Marketing.
Earn Valuable Sales and Marketing Designations Through IRM Programs
The Institute of Residential Marketing (IRM) offers four designation programs for sales and marketing professionals:
- The MIRM and CMP designation programs for new home marketing professionals
- The CSP and MCSP designation programs for new home sales professionals
For more information on these designation programs, click here.
Ask an Expert
You also can ask designation holders questions about obtaining a designation, specific courses, case studies and more. "Ask An Expert" is available on the NAHB Web site by clicking here.
'Sales and Marketing Checklists' Covers the Ins and Outs of New Home Sales
“Sales and Marketing Checklists for Profit-Driven Home Builders,” available through BuilderBooks.com, covers the major steps involved in successful new home sales. Learn the ins and outs of the comprehensive contract, the move-in, warranty service, asking for referrals and a great close. This expanded second edition includes a new chapter on utilizing technology in your marketing and a more extensive chapter on mulitcultural sales.
To view or purchase this publication online, click here, or call 800-223-2665.