The real estate industry has undergone a dramatic transformation with the rise of the internet as the primary shopping tool for consumers. Before the web became our "open house," buyers relied almost exclusively on real estate agents to learn what was for sale.
Historically, brokers used print media—newspapers and magazines—to showcase listings. Consumers would see an ad, call for details, and a business relationship would begin. Today, that model has been completely flipped.
The Rise of the Mobile Buyer
In 2014, the "search" has moved from the kitchen table to the palm of the hand. Consumers now start their journey from home or on mobile devices like smartphones and tablets. In fact, our own statistics show that more and more inquiries are originating from mobile search than ever before.
Where buyers are looking in 2014:
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Broker Websites: Local, curated data.
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Local MLS Portals: The source for up-to-the-minute property info.
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Realtor.com: A national site that pulls data directly from local multiple listing services for high accuracy.
The "Zestimate" Pitfall: Accuracy Matters
While technology is a wonderful tool, it has also introduced questionable data into the market. Sites like Zillow claim to provide "home values" (Zestimates) for every property in a neighborhood.
Unfortunately, this information is often outdated or missing recent sales data. In a rural or unique market like ours, an algorithm simply cannot account for the nuance of a home’s condition or its specific location. Relying on these numbers without context can lead to major misconceptions about a home's true market value.
Why the Human Element Still Wins
Technology provides the data, but it doesn't replace a well-informed, professional real estate agent. Especially in the transaction phase, you need someone who knows the local market inside and out to represent your interests.
The internet is a great place to start, but a local expert is how you finish.
