Survey Reveals How Realtors Are Meeting the Needs of Today’s Clients

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RISMEDIA, August 21, 2008-According to a recent survey, New Jersey Realtors® are increasingly relying on technology to connect with clients and meet their needs. The 2008 New Jersey Member Profile reveals that Realtors are becoming more tech-savvy and accessible to clients by increasing their use of the Internet and technological devices.”The survey reveals that Realtors are increasingly embracing technology as a means of achieving greater productivity and efficiency in the real estate transaction,” said 2008 NJAR® President Drew Fishman. “New Jersey Realtors use technology to simplify the home buying and selling process and make it more convenient for their clients.”

According to the survey, 91% of New Jersey real estate firms have a website. On an individual level, 56% of Realtors have a website for business purposes with 49% having had their website for at least five years. The survey found that 87% of New Jersey Realtors placed their listings on www.REALTOR.com, compared to 80% nationally. An overwhelming majority (86%) also placed their listings on their firm’s website. Realtors’ websites can provide consumers with a wealth of information. The report shows that 90% of the respondents place property listings on their websites, 78% post information about home buying and selling, and 74% have a mortgage and financial calculator.

The 2008 New Jersey Member Profile also shows an increase in New Jersey Realtors’ use of technological devices, which indicates that today’s real estate professionals are keeping pace with their clients’ needs. The vast majority (89%) of Realtors use e-mail daily or nearly every day while 85% use a cell phone (with no e-mail or Internet capabilities) daily or nearly every day.

Additionally, the report found that 31% of Realtors use a smartphone (cell phone with wireless e-mail and Internet access, such as a Treo or BlackBerry) daily or nearly every day. In 2007, 9% reported that they have a blog and 12% plan to start a blog in the future. By comparison, in 2006, 4% had a blog and 8% planned to start a blog. New Jersey Realtors’ use of global positioning systems also significantly increased from 44% in 2006 to 60% in 2007.

“The use of technology such as blogs, instant messaging, and podcasts makes it easier for Realtors to communicate with the home buying and selling public about the dynamics of today’s marketplace,” said Fishman. “Realtors are knowledgeable and trusted resources and technology is a vital tool that helps them share their expertise about local market conditions with consumers.”

With regards to accessing multiple listing services, 75% of Realtors use them on a daily or nearly every day basis, and another 12% use it a few times per week. Other frequently used software includes contact management, customer relationship management, and comparative market analysis. The median amount of money spent on technology products and services by Realtors in New Jersey increased from $620 in 2006 to $770 on 2007.

The survey was conducted by the National Association of Realtors on behalf of NJAR®. In February 2008, NAR mailed an 89-questionaire survey to a random sample of 72,000 REALTORS®. An identical questionnaire was also distributed to another group of 89,400 members via a Web-based online survey. A total of 9,997 responses were received. There were 344 unweighted responses from New Jersey, yielding a response rate of 4.3%, which form the basis of the report.

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RISMedia welcomes your questions and comments. Send your e-mail to: realestatemagazinefeedback@rismedia.com.

For more real estate tips and topics on RISMedia.com, see:

• Taking the Right Amount of Time  
  5 Ways Agents Can Use SMS to Sell Real Estate

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