Using Your VOW Website to Communicate with Buyers

WAV Group
Published: 04/15/2010
Posted by: RET Staff

In this third of a series of five articles about Virtual Office Websites, or VOWs. We are going to discuss the ways to use a VOW to work more effectively with buyers.

Whether you are new to real estate or a seasoned veteran, you must be aware that consumers are using the Internet as the cornerstone of finding a home to buy. Year after year the influence of the Internet is measured by many—including the 2008 National Association of REALTORS® Profile of Home Buyers and Sellers Study which reports:

• 33% started their home search by looking online for properties for sale.
• 38% if a repeat buyer.
• 27% if a first-time buyer.
• 87% claim that they used the Internet as an information source.
• 89% if a first-time buyer and 86% if a repeat buyer.
• 81% found the Internet as a useful source of information.

It is clear that brokers and agents must meet consumer demand for property information online if they are to have success in marketing homes to today’s home buyer. Until now, brokers have relied on IDX data feeds that typically update every active MLS listing everyday. The fields that are contained in the IDX feed vary by market, but fall short of displaying all of the information available in the MLS. With a VOW (Virtual Office Website), brokers may now obtain a data feed from their MLS that contains ALL NON-CONFIDENTIAL INFORMATION AVAILABLE. This represents an enormous opportunity for brokers and agents to differentiate themselves from other websites by providing home buyers with the best website listing content available.