Nearly one in eight higher income consumers said social media influenced their choice of real estate services, the highest of all media types, according to the Summer 2009 Ad-ology Media Influence on Consumer Choice survey.
Of online, social, and traditional media, online media had the most influence across all demographics. Real estate agency Web sites were the most influential online media. The lucrative 25-to-34 age group was noticeably more influenced by video than other age groups.
Fees are the most important factor for consumers selecting real estate services, followed by real estate office and real estate agent reputation.
"Relationships and reputations — both online and offline — are so crucial in real estate," said C. Lee Smith, president and CEO of Ad-ology Research. "Agents who may be ignoring social media need to realize it's a great way to establish their name and build relationships in the marketplace, and especially with these higher income consumers," Smith said.
Other key findings:
- Newspapers and television were the most influential traditional media
- Convenience was important for 18-to-24 year olds: online listings and office location were the top factors
- Positive comments influenced 12.2% of 25 to 34 year olds
The Media Influence on Consumer Choice survey is conducted throughout the year by Ad-ology Research to study online, traditional, and social media influence on buying decisions.
"Media Influence on Consumer Choice: Real Estate," conducted by Ad-ology Research, November 4, 2009. Website: www.ad-ology.com.