Marketing has always been central to successful real estate sales, but how buyers and properties connect has changed dramatically over the past decade. While real estate agents still place signs on front lawns, digital technology has become the tool of choice for leading realtors. Conducting virtual tours, using augmented reality (AR) applications and artificial intelligence (AI) are just three trends poised to change the industry.
Digital technology in real estate marketing
Digital technology is critical to successful real estate marketing. According to data from the National Association of Realtors (NAR), 97% of homebuyers used the internet to find a property in 2020. Granted, that figure may have been influenced by the pandemic. However, more recent data confirms the trend.
Figures from 2023 show that more than four in ten homebuyers start their search online, and 50% of buyers are finding their next property online. With one exception, all generations are likely to see their new home online before contacting a realtor. The only exception is the so-called 'silent generation' of people born between 1928 and 1946. Their search tends to commence by contacting a real estate agent.