REAL ESTATE TECH TRENDS - Properties Online

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REAL ESTATE TECH TRENDSBy Properties Online, Inc.2018Real Estate Tech TrendsProperties Online, Inc. has compiled important statistical informationfor the real estate community. Statistical sources include the 2017National Association of REALTORS Profile of Home Buyers &Sellers, the 2017 National Association of REALTORS Member Profile,The Realtor Technology Survey Report, The California Association ofREALTORS Buyer and Seller Surveys, WAV Group AgentResponsiveness Study, RealEstateSites.com and over 3 million websitevisitor statistics from over 15 thousand single property websites.

REAL ESTATE TECH TRENDSREAL ESTATE TECH TRENDSREAL ESTATE TECHNOLOGY INFORMATION AND TRENDSThe Home Search ProcessReal Estate Agents continue to be a critical component in the home buyers search process. Home buyers arerelying heavily on online sources and their agents to provide information, with decreasing use of some sources,such as newspapers and open houses. Home buyers typically spend 10 weeks searching for a home andpreview an average of 12 properties before deciding on their purchase. The Internet has become an essentialand indispensable tool in the home search process with nearly 95 percent of home buyers using it to searchfor homes, and 54 percent of buyers stating that the use of the Internet was the first step taken during thehome buying process.How Buyers Search for PropertyInformation Sources used in Home Search Now Vs. 10 Years Ago95%Huge jump in OnlineVideo Sites andMobile Search.Only 15% of Buyers usethe Newspaper toSearch for property, vs.48% 10 years 5%1%2007Properties Online, Inc. 2018 web: PropertiesOnline.com1%2017Page 1

REAL ESTATE TECH TRENDSBuyers use of Internet in Home Search Process, ss of Information SourcesWhat buyers deem "Very Useful?"Online Website88%Real Estate Agent79%Mobile / Tablet Search76%Online Video site56%Home Builder47%Open House40%34%Yard Sign27%Relo Company22%BillboardTelevision20%16%Home Book / Magazine15%Newspaper0%10%20%30%Properties Online, Inc. 2018 web: PropertiesOnline.com40%50%60%70%80%90%100%Page 2

REAL ESTATE TECH TRENDSWhere Buyers Come FromWhere Buyer Found the Home they PurchasedYard Sign, 7%Friend, 6%Agent, 31%Builder, 6%Seller, 2%Newspaper1%Home Book /Magazine, 0%Internet, 49%Home Buyers & Real Estate ProfessionalsThe home buyers still rely on real estate agents and brokers to be partners as they navigate the homepurchase process. The confidence and trust that buyers place in their agent translates into repeat business.Agents who satisfy buyers by providing the services that matter are likely to earn repeat business. Last year,87% of buyers used a real estate agent, up steadily from 69% in 2001.What Buyers Wantfrom their real estate professionalHelp with paperwork,7%Determine whatcomparable homeswere selling for, 6%Help negotiating price,11%Help negotiatingterms, 13%Help determining howmuch buyer canafford, 5%Help find and arrangefinancing, 3%Provide neighborhoodinformation, 1%Help finding the righthome, 52%Properties Online, Inc. 2018 web: PropertiesOnline.comPage 3

REAL ESTATE TECH TRENDSWhere Buyers Come FromWhere buyers found their Real Estate ProfessionalReferred by friend, neighbor or relativeUsed agent previously to buy or sell a homeInternet websiteOpen HouseReferred by another agent or brokerSaw contact information on For Sale/Open House SignPersonal Contact by agent (telephone, email, etc.)Referred through employer or relocation companyWalked into or called officeNewspaper, Yellow Pages or home bookMobile or Tablet AppOther42%12%9%6%5%4%4%2%2%1%1%11%Why Buyers Chose their AgentMost Important FactorsReputation of agent,17%Agent's Experience,17%Agent is a friend orfamily member, 15%Agent is honest andtrustworthy, 19%Other, 4%Professionaldesignations held byagent, 1%Agent's associationwith a particular firm,2%Agent's knowledge ofthe neighborhood,8%Agent seems 100%accessible because of use oftechnology like smart phoneor tablet, 4%Properties Online, Inc. 2018 web: PropertiesOnline.comAgent is timely withresponse, 7%Agent has caringpersonality / goodlistener, 7%Page 4

REAL ESTATE TECH TRENDSImportance of Real Estate Agent Skills and QualitiesVery ImportantSomewhat ImportantNot Important45%SKILLS WITH TECHNOLOGY46%KNOWLEDGE OF LOCAL AREA77%PEOPLE SKILLS78%9%20%21%83%NEGOTIATION SKILLS1%16%86%COMMUNICATION SKILLS3%1%13%1%KNOWLEDGE OF REAL ESTATE MARKET92%7%KNOWLEDGE OF PURCHASE PROCESS93%6% 1%RESPONSIVENESS93%7%97%HONESTY AND INTEGRITY1%2% 1%Importance of Agents Response Time in the Buyers Selection ProcessNot Important0%Somewhat Important7%Very Important93%0%10%20%30%40%50%60%70%80%90%100%48% of Buyer inquiries were never responded to.Properties Online, Inc. 2018 web: PropertiesOnline.comPage 5

REAL ESTATE TECH TRENDSExpected Response Time Vs. Actual Response Time77%of sellersexpect areply within30 Mins.45%Only 24% ofAgents reply toSellers within30 mins.45% of sellersexpect an instantreply.of sellerexpect to becontactedinstantly.88% of buyersexpect a responsefrom their agentwithin 1 hour. Only30% of agentsmeet theirexpectation.42% of buyersexpect an instantresponse from theiragent.77% of sellersexpect a responsefrom their agentwithin 30 minutes.Only 24% ofagents meet theirexpectations.88%of buyersexpect areply within1 hour.42%of buyersexpect to becontactedinstantly.Properties Online, Inc. 2018 web: PropertiesOnline.comOnly 30% ofAgents reply tobuyers within1 hour.Page 6

REAL ESTATE TECH TRENDSRepeat BusinessWould buyer use real estate agent again or recommend to others?Probably Not6%Definitely Not Don't Know2%5%Top 5 Reasons forSatisfaction with Agent:1. Response time2. Listened to needs3. Helped find best home4. Worked hard5. Did a good jobfacilitating transactionProbably15%Definitely74%Only 12% of buyers actually used an agent that they had used previously.How do Buyers want to be contacted?Question: What was your preferred method of communicating with your agent?60%50%40%30%20%10%0%TelephoneEmailText MessagePreferredProperties Online, Inc. 2018 web: PropertiesOnline.comIn PersonSocial MediaActualPage 7

REAL ESTATE TECH TRENDSHome Sellers & Real Estate Professionals89% of Sellers used an agent to sell their home last year, up from 79% in 2001. Referrals from friends andfamily continue to be among the most important factors when home sellers choose a real estate agent. Ingeneral, marketing in print media, such as real estate magazines and newspaper advertisements droppedsignificantly last year.Where Sellers Come FromMethod used to find Real Estate AgentInternet website, 5%Personal contact byagent, 5%Visited an open house,4%Used agent previously,23%Referred by anotheragent, 3%Yard sign, 2%Referred, 41%Direct mail, 2%Referred throughemployer, 2%Walk in, 1%Other, 10%Repeat BusinessWould seller use real estate agent again or recommend to others?80%70%67%60%50%40%30%18%20%7%7%Probably NotDefinitely Not10%0%DefinitelyProbablyProperties Online, Inc. 2018 web: PropertiesOnline.com2%Don't KnowPage 8

REAL ESTATE TECH TRENDSMarketing Real EstateMethods Real Estate Agent Used to Market Home82%82%82%Agents Response10% of Agentsstill market theirlistings in thenewspaper1% of Buyersfound the homethey purchased inthe Newspaperand less than 1%in a Magazine.5% of Agentsstill market theirlistings inMagazines.Properties Online, Inc. 2018 web: rs Response73% ofhomeowners saythey're morelikely to list witha realtor offeringto do a video butonly 11% ofagents do.Page 9

REAL ESTATE TECH TRENDSTechnology & The Real Estate AgentThe demographic characteristics of Realtors have not changed significantly in recent years. The median ortypical REALTOR is a 53 year old white female who attended college and is a homeowner. 63% of agentsare female leaving 37% male.Value of Broker Supplied Technology4%6%Exceptional Value12%Reasonable15%28%NeutralNot Enough34%PoorNo Technology Provided by Broker45% of agents and associate brokers would like their broker to expand the amountof technology provided. 62% of agents would like their MLS to expandthe technology and services offered.How Technology Gives an Advantage Over Other Real Estate AgentsStay competitive49%Respond to clients faster49%Make other agents look behind the times22%Marginal agents can't keep up19%To keep up with the competition19%Clients demand it16%Saves time15%Saves money8%0%10%Properties Online, Inc. 2018 web: PropertiesOnline.com20%30%40%50%60%Page 10

REAL ESTATE TECH TRENDSNetworkingHow important are each of the following in generating lead?100%80%60%Somewhat Important40%ImportantVery Important20%0%How Agents Communicate with ClientsPreferred method used to stay in 26%EmailPhone CallPostal MailText MessageIMOnly 18% of agents touch basewith past clients on a monthly basisProperties Online, Inc. 2018 web: PropertiesOnline.comPage 11

REAL ESTATE TECH TRENDSCustomer Inquiries Generated from WebsiteHow many website inquiries do you get a year?1 to 5 inquiries, 30%None, 49%6 to 10 inquiries, 7%11 to 20 inquiries, 5%21 to 50 inquiries, 5%51 to 100 inquiries, 2%More than 100inquiries, 2%The median number of inquiries is 1 per year.Business Generated from Realtors WebsiteWhat percentage of business came from your website last year?26%11%8%5%3%48%None1% to 5 %6% to 10%11% to 25%26% to 50%More than 50%Agents who spend 1,000 or more to maintain their websitegenerate on average 5x more leads than those who spend 500 or less.Properties Online, Inc. 2018 web: PropertiesOnline.comPage 12

REAL ESTATE TECH TRENDSWebsite Traffic ReportIn the 90s, the telephone was the primary source of contact between a client and real estate professional.Today, the Internet has replaced the telephone as the first point of contact. Web traffic on broker and agentwebsites confirms this.Where Traffic is Coming From?Source: Listings Unlimited Property Websites 2,362,515 visitorsSocial, 68%Direct Traffic, 23%Other, 1%Search Engines, 1%Referred by anotherWebsite, 7%Referring WebsitesBreak down of Top Referring Sources (excludes social omCentury 21GoogleMLS01,0002,0003,0004,000Properties Online, Inc. 2018 web: PropertiesOnline.com5,0006,0007,0008,0009,000Page 13

REAL ESTATE TECH TRENDSBrowsers UsedTop Browsers Used in Internet SearchFirefox, 2%Explorer, 2%Other, 2%Safari (App),45%Safari, 13%Chrome, 14%Android, 22%Traffic by Device TypeHow did visitors access the Property Website 120%100%80%60%40%20%0%20102014MobileProperties Online, Inc. 2018 web: PropertiesOnline.comDesktop2017TabletPage 14

REAL ESTATE TECH TRENDSMobile %Samsung2%MotorolaOtherMobile Traffic now accounts for 81%of the total traffic to Listings Unlimited.Top 5 Social Network ReferrersFor referring traffic to the Single Property PinterestContact InformationProperties Online, Inc1820 Empire Industrial Ct., Suite CSanta Rosa, CA 95403tel: 800.826.5123e-mail: info@propertiesonline.comweb: PropertiesOnline.comProperties Online, Inc. 2018 web: PropertiesOnline.comPage 15

2018 Real Estate Tech Trends . Properties Online, Inc. has compiled important statistical information for the real estate community. Statistical sources include the 2017 . visitor statistics from over 15 thousand single property websites. REAL ESTATE TECH TRENDS Properties Online, Inc. 2018 web: PropertiesOnline.com Page 1 REAL ESTATE .

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