Smartphones Are Guiding Buyers

Mobile devices are what buyers turn to for finding properties and real estate agents. This has put increasing importance on real estate pros to make sure their websites are mobile friendly and they’re connecting in a way that clients most desire.

The typical home buyer used a mobile device to search for properties online, looking at websites with photos, home listings, and information about the homebuying process, according to the newly released “Real Estate in a Digital Age 2019 Report” published by the National Association of REALTORS® that looks at technology use within transactions.

Overall, 76% of all buyers say they found their home on a mobile device. Seventeen percent of buyers surveyed said they also found their agent on a mobile device, too.

Source: “Real Estate in a Digital Age,” National Association of REALTORS® (8/2019)

Is Facebook Losing Some of Its Mojo?

Fewer Facebook users are sharing personal updates or original content. In fact, a newly released report shows that Facebook saw a 21 percent decline in “original sharing” or personal updates among its 1.6 billion monthly active users.

“This indicates a key vulnerability for the social behemoth,” a Fortune article notes. What started as a “special and intimate place to share things grows into a big, impersonal, and professional platform.”

Fortune columnist Erin Griffith blames the decline partially on the rise of professional content on Facebook. Facebook has helped to foster the growth of professional content on its site, but Griffith says the problem is that professional content can be found anywhere online and makes Facebook lose its identity. What’s more, the greater the professional content offerings on the social network, the more other users may feel their inside jokes, blurry photos, and opinions feel out-of-place.

“The platform no longer feels like an intimate conversation among friends,” Griffith notes. If the platform is going to keep its future domination, Griffith says it needs to look to retain what made it special in the first place: Intimacy.

Source: “Facebook users Are Sharing Less and It’s a Big Problem,” Fortune (April 7, 2016)

Commercial Real Estate “Embraces Twitter”

Some of the nation’s leading commercial real-estate firms are increasing their activity on such social media sites as Facebook, LinkedIn, and Twitter. In fact, a number of brokers say they are doing deals thanks directly to leads generated by such sites.

Many brokers didn’t even know what Twitter was in 2010 — four years after its launch. Today, CBRE leads “the Twitter pack” among in the commercial realty industry with more than 26,000 followers. Jones Lang LaSalle ranks second with 16,048 followers and has assembled a four-person social-media team that also manages accounts on Facebook and LinkedIn.

Brooke Houghton, a JLL vice president, remarks, “It’s definitely something that is a priority for the firm, and we’ll definitely continue to invest in it.” We agree, what’s your comments for your market area?  

Source: “Real-Estate Firms Get a Handle on Twitter,” Wall Street Journal (12/10/12)

California Silicon Valley Tech Boom Sparks Housing Boom

Housing isn’t hurting everywhere: A tech rush in Silicon Valley is once again causing mega-mansions to be in demand there. Real estate pro Alex Wang says he’ll get 17 or 18 offers on a property at times, and that buyers are even purchasing homes for hundreds of thousands of dollars over the asking price. Also, many of these buyers are paying cash and closings are happening quickly.

The social media tech boom in Silicon Valley has caused mansions to become sought-after, but with limited inventory of homes for sale, new construction and bidding wars are increasing, Fox News reports. 

In Palo Alto, Facebook’s headquarters, the median sale price of a single-family home rose nearly 5 percent over last year to $1.3-million in June, DataQuick reports.  

“The social media and explosion of high-tech IPOs are also creating a new work environment where people aren’t always in the office,” says Allison Buffam, marketing manager with SummerHill Homes. “They want to be able to be at home and work as well, and they want the best home they can afford.”

 Source: “California Bay Area Mansions Are in Demand Due to Tech Boom,” Fox News (Aug. 11, 2011)

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