RISMEDIA, August 27, 2007-eVOC Insights, a customer experience consulting firm, and RelevantView, a leading technology provider of Web-based research solutions, announce the release of a new syndicated real estate report, “To Buy or Not To Buy -Finding Your Dream Home Online.”
With the recent explosion of the subprime mortgage crisis that is proliferating across the globe, investors and home buyers alike are actively watching the market to see what will happen next. Financial losses have forced some lenders to close their doors and others to seriously tighten their underwriting standards. Short-term home buyers, now more than ever, need to be thoroughly informed of what investment opportunities they can afford, and how to find a desirable home in a market that may be skeptical of underwriting anyone, even those who qualify for prime financing. So where do consumers go to initiate the home buying process and what factors are influencing their purchase decision?
The eVOC / RelevantView Real Estate Report addresses these questions in detail by comparing the customer experience and purchase decision process between leading online real estate sites including Realtor.com, RealEstate.com, Trulia.com, and Yahoo! Real Estate.
Highlights from this report include:
– 9 out of 10 home buyers have used or plan to use the Internet to aid
their real estate search
– Realtor.com is the #1 real estate Web site across key metrics, including
site traffic, brand recognition, property selection, search results,
and home descriptions
– Real estate portals (e.g., Realtor.com) are perceived to have more
listings, better selection, and neutrality, while local realtors (e.g.,
Coldwell Banker) seem more accurate and trusted
– Short-term home buyers (defined as those who recently purchased a home
or plan to purchase in the next year) tend to have higher incomes than
long-term buyers, and short-term buyers are also twice as likely to
visit a local realtor site as long-term buyers
– Photos, clear property / neighborhood descriptions, effective search
tools, and mapping are the most important features on a real estate
– Trulia.com has less brand awareness than Realtor.com, but outperforms
the competition for its innovative mapping functionality, ease of use
and clear design
– Short-term home buyers tend to prefer Realtor.com overall, while long-
term buyers are evenly split in preference between Trulia.com (32%),
Realtor.com (29%) and Yahoo! (22%)
Combining RelevantView’s online technology, ActiveSandbox(R), with eVOC’s strategic consulting and analytical expertise, this report helps real estate providers maximize the effectiveness of the online channel by providing a clear understanding of the customer decision process when researching and purchasing a home. Unlike other methodologies, this research combines behavioral and attitudinal metrics to understand the thoughts, actions and preferences of consumers as they interact head-to-head with leading real estate Web sites.
For more information, visit http://www.relevantview.com/sr_ore.asp.
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