Words: Ashley Rigg
Published: 24th April 2008
Latest property search trends - US insight
Understanding
how property buyers use search engines should be the starting point for any agent keen to maximise online lead generation. Several significant studies from the US, including the latest results of a bi-annual longitudinal survey of 2,400 consumers, provide some interesting insights into how consumer behaviour is changing. Online developments in the US are often followed in other parts of the world so it’s always worth watching the market to stay one step ahead of the competition.
Below is a list of the most important findings together with our interpretation of what they mean for overseas property professionals.
- Fewer searchers are moving past the first page of results than ever before. 68% (2008) click the first page of results compared to 62% (2006), 60% (2004) and 48% (2002). This means the value of a first page listing is increasing overtime. It follows that more resources should be dedicated to this task and more spend allocated to websites that achieve top positions. Property portals are uniquely placed to exploit this trend and we predict agent spend on this medium will increase over time.
- 39% of respondents believe that companies whose websites appear in the top search results are leaders within their field compared to 19% who disagreed with this statement. This shows there is significant brand value in search engine marketing. The implication is that all business owners should at least monitor performance in this area and target people against it. It’s not just a technical issue; it affects how your customers and partners perceive you.
- 17% of all search results served on Google.com in the US in January this year were blended. In other words, they contained video, images, news, weather or stock results as well normal text link results. Of those who remember seeing a blended search result, the largest proportion of people remember seeing video (38%), compared to news (34%) and images (19%). Blended search is less prevalent outside of the US as Google tends to test new technology there before rolling it out to other geographical markets. As it becomes more important in the UK and Europe, agents and developers who publish and optimise property videos will have an advantage. It’s a growing and powerful medium. Once video is regularly inserted into the standard search results, the lead generation potential should really take off.
Sources:
iProspect Blended Search Results Study comScore research data
User Comments
Some estate agents think that advertising properties on portals is enough and they end up compromising their own website.
Brand positioning can only be possible by developing your own website and not just advertising on portals like Rightmove. Although it is important in the long run, estate agents who invest in developing their own website and online brand will benefit, leaving others who advertise only on portals far behind. For more information please visit http://www.kronikmedia.co.uk/blog.
Kronik Media,
www.kronikmedia.co.uk