RISMedia's Real Estate Magazine

JAN 2019

Real Estate magazine is the industry's leading source for real estate news and information since 1980. Published monthly by RISMedia, Real Estate magazine offers timely and relevant real estate news to the industry's top brokers and agents.

Issue link: http://remag.rismedia.com/i/1066259

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Page 55 of 118

RISMedia's REAL ESTATE January 2019 51 Despite 44 percent of homebuyers searching on the web, 87 percent— close to double—bought with the help of a REALTOR®, according to NAR's Real Estate in a Digital Age re - port, which explores the intersection between REALTORS® and technology and the consumers they serve. "Consumers have the ability to do more home-buying research online than ever before," says John Smaby, 2019 NAR president. "Still, REAL - TORS® present tremendous value to buyers from every generation and every background. While consum - ers have more technological tools at their fingertips, REALTORS® continue to be a large part of the home-buying and -selling equation." Ninety percent of millennials, no - tably, relied on a REALTOR® in their transaction. Buyers cited "finding the right property" as the most chal - lenging part of the process—in fact, the average buyer was on the house hunt for 10 weeks. Boomers are more likely than mil - lennials to search on their smart- phone or tablet, the report shows, and more likely to value virtual tours. By comparison, Gen Y is focused on images and information when look - ing to purchase. Given that the internet is so piv - otal in property search—and, that consumers are demanding immedi - ate response—REALTORS® are rely- ing on technology, as well, according to the report. Close to 50 percent of brokerages are challenged by "keep - ing up with technology," and believe they will continue to be challenged by it in the next two years. (According to RISMedia's 2018 Power Broker Re - port, brokers are heavily investing their resources in technology.) For client communications, the most common are emailing and texting (favored by 93 percent and 92 percent of REALTORS®, respec - tively). Lockboxes, the MLS and so- cial media are also top tools, the report shows. Facebook is the most commonly leveraged platform, with 97 percent of REALTORS® using it, followed by LinkedIn at 59 percent and Instagram at 39 percent. When it comes to generating leads, REAL - TORS® are getting the highest-quality prospects from social media (47 per - cent), as well as business from their brokerage, MLS and online portals. Drones, which have the ability to capture midair photography and vid - eo, are flown personally by 5 percent of REALTORS®; 23 percent hire a professional. "REALTORS® continue to find ways to make home-buying and -selling more efficient and accessible for their clients," Smaby says. "As tech - nology use continues to transform and modernize the real estate in - dustry, REALTORS® are focused on adapting to and remaining at the forefront of this change." RE For more information, please visit www.nar.realtor. Suzanne De Vita is RISMedia's online news editor. Email her your real estate news ideas at sdevita@rismedia.com. Buyers Are Calling on REALTORS ® , Even With Listings a Tap Away by Suzanne De Vita W hether you're browsing for homes out of interest or in the market for one today, chances are, you've logged on to look for a property. Most of us are enlisting help, however, to locate "the one," according to findings from the National Association of REALTORS® (NAR).

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