Spencer Rascoff - Zillow.com
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Houston Association of REALTORSReal Estate Information Symposium:Understanding the Internet Buyer
Spencer Rascoff, COO Zillow.comTwitter: @spencerrascoffMarch 30, 2010
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The Internet Consumer… Inhales information Does a lot on her own Demands timely responses
Uses mobile devices
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Information Overload? No such thing.
Buyers routinely accessing information including: Historical asking prices Days on market AVMs Mortgage amount of seller Purchase price paid by seller Valuations on nearby homes Comps
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The Internet Buyer 84% of buyers. They’re using Realtor.com and Zillow, and
top local brokerage sites (and yes Bob, sometimes MLS sites)
looking for listings and agents. They do a lot for themselves, and expect a lot from agents, including instant responses. And they use mobile devices.
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What should agents & brokers do about it?
Syndicate listings Meet internet clients’ needs Sharpen your game Fish (& spend) where the fish are
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Listings Syndication
Agents & brokers need to cast their net far and wide, including mobile
IDX is not enough
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Meet clients’ needs
1/3 of online leads ignored Only 5% of online leads
answered in their entirety Avg response time to email: 10 hours, 16 minutes
Consumers expectations: 56% within 30 minutes!
Source: WAV Group “The Consumer Online Real Estate Search Experience” March 2009
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Sharpen your game
Arm yourself with information, because your clients already have it
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Fish where the fish are
Linger at top of the sales funnel by providing free, useful advice
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Fishing is free, but bait’s not
Spend smartly online for extra exposure
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Questions?
Spencer Rascoff, COO Zillow.comEmail: [email protected]: @spencerrascoffactiverain.com/blogs/spencerrascoff