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The Internet is now a more important tool than yard signs for advertising homes for sale, the report said. In 2006, 80 percent of home buyers used the Internet while looking for a house versus 63 percent who said they looked for yard signs, according to a study cited in the report. Seattle Times
Okay then, I have read the phrase “The Internet is more important that the yard sign” in an article today discussing the Federal Trade Commissions report on real estate business practices. While 5 years ago I would have vehemently disagreed that the internet is more important in selling real estate and in the future I will probably agree as real estate agents become more sophisticated in their techniques and tools marketing homes online, I think we are still in the period of flux in terms of marketing a home.
The yard sign has a few characteristics in marketing a home that the internet will be very difficult to replicate:
- Buzz – in our neighborhood when a home goes on the market the sign lets us know. I have “helped sell” two homes by telling people that I personally know that a home has gone up in our subdivision and to come look at it.
- Accidental Finding – The home we now live in we found by accident dropping a our son off at a friends home in the subdivision. We had been looking and may have found the home online, but the sign got us ready to search for this specific home.
- Drive By – While searching on the internet is great, finding a home as you are driving by and getting the flyer in your hands is a great feeling. Pictures, videos, and descriptions on the internet can never convey the first impression of seeing your future home in person. (An aside, I will never understand the lazy realtors out their who can not keep their flyers stocked on site. As a consumer, make sure you keep them filled!)
So here is my question for you, which do you think is more important in 2007, the internet or the Yard Sign?
7 comments ↓
I’m going to say Internet, but really it’s a meaningless debate. Both Internet and the yard sign are pretty cheap advertising.
Now newspaper ads… lets deep six those.
-Athol
The fact that you ask the question on the internet is all the answer you need.
Robert
I think the internet has the macro market on real estate conversations down perfectly like we have on this site daily. My point is, is the internet better that a yard sign for marketing your home today, May 9th, 2007.
It is not that they are mutually exclusive, you would have to be a moron to do one without the other, but in a theoretical world which is better.
We who read internet sites on real estate constantly see things in a much different perspective than those who rarely go on line and do not know what a blog is. And they still constitute a large percentage of the population.
Tom
I would agree with the comments made thus far and would add that different areas call for different ad media. In the heartland (like Oklahoma City where I visited this weekend), the Internet is 5 years behind, thus the sign and print classifieds rule. Here in Austin, without the Internet you’re dead in the water- the demographic is nearly 99% tech savvy and the median age is quite low.
In short, it depends on your market.
Well said, Realtors Wife!
It is amazing that we all see the world through our local situations. Robert Cote is in California where tech rules, as are you in Austin.
I am in a transition area of Georgia that has some of the buyers high tech and others still do not own a computer. When I tell them I am a blogger it is amazing the different reactions I get.
Tom
Okay, Tom. I thought you were forcing a choice.
I absolutely agree that both are necessary. I’d go further and suggest that soon enough we’ll have “smart” signs. That means a sign and a flyer and wi-fi with a micro-server. Think of the efficiencies. Someone on the way to a different property stops, logs and takes the virtual tour. No interest and you’ve got a lead and haven’t wasted time with a showing. If there is interest you’ve documented first contact. Win-win.
The “For Sale” sign will never go away. Without it people look like they are casing the joint, or get too embarassed to stare. Without it the neighbors don’t tell their friends. Viva la Sign.
That said, the internet is all about cachement. If things get as bad as I expect they might I’ll be buying several hundred acres in the Berkshire Mountains. I’m not going to retain and agent or anything. I’ll wait for an e-mail alert to be triggered.
I think your observation about most people is outdated. There just aren’t going to many more transactions that don’t include a zillow.com and realtor.com consumer generated inquiry somewhere in the process.
Well, I think it is the internet which is more important now then a yard sign. Come on, I agree that you got your house through a yard ad, well but does that mean it can out do internet, ofcourse not. Man, we live in a technologically advanced world and just because you are aided in your search for things by the internet, doesn’t make you a laid back slob, atleast not me. See I used to stay in Manhattan but I wanted a house in Bluffton, SC, so what did I do? I used the internet and used resortscape.com (http://www.resortscape.com/default.aspx?ct=r&q=&utm_medium=linktous&utm_source=PT) and secondspace.com to assist my search, now all happy and hearty I am living in Bluffton. And I know there many who will just agree with what I have said, because it is a fact.
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