The internet is now the most common way property investors and home buyers search for new homes for sale, according to research. UK firm Badger Holdings has released details of an investigation into how business is generated, saying the web is now crucial, while only a tiny fraction of transactions are now generated by traditional newspaper advertising.
Figures show around 56 per cent of buyers registered and 41 per cent of all viewings arranged during January 2008 were created by online activity. The firm said only about three per cent of business during the same period came from adverts in local newspapers.
Kirstie Ayres, Marketing Manager, comments:
“Based on the figures, our advertising strategy has changed by rationalising the amount of pages within the local papers and also changing their focus to communicate and build relationships with both vendors and landlords by replacing some of our conventional property adverts with advertorials.
“Our advertorials are now produced monthly and include a variety of useful and interesting information such as market commentaries, tips for landlords or sellers and other local news.”
The firm said whereas space in local newspapers had previously been a “must have”, internet take up among buyers has been quick, meaning agents have had to realign communications strategies.
Sites such as Rightmove and Primelocation have sped the trend, with property investors rather than conventional home buyers also turning to the web.
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