Zero Moment of Truth (ZMOT) is defined by Google as the idea that home shopping is no longer about showing up at a REALTORs office or an open house, seeking advice or counsel on what to buy or how much they should pay. Google’s ZMOT handbook explains, “the sales funnel isn’t really a funnel anymore.” Consumers are empowered, by the internet, allowing them to conduct research prior to this critical ZMOT.
Jim Lecinski, Google’s ZMOT expert states, “at the Zero Moment of Truth, today’s shoppers bounce back and forth at their own speed in a multi-channel marketplace. They switch devices to suit their needs at any given moment. They search; go off to look at reviews, ratings, styles and prices; and then search again. They see ads on TV and in newspapers and online. They walk into local stores to look at products. They talk to friends, over the back fence and on social media. Then it’s back to ZMOT for more information.”
Home buyers are using the web in record numbers;*
- 9 out of 10 rely on the internet for primary research
- 52% use the web as 1st choice
- Google real estate searches increased 22% year to year, plus 1/5 of these searches occurred mobile growing 120% from 2011 to 2012
Video satisfies multiple house hunting needs;*
- 70% of homebuyers tour the inside of a home
- 86% of homebuyers search specific community info
- 54% of homebuyers obtain general property info
- 44% of homebuyers compare multiple company features
*Per The Digital House Hunt, joint study by NAR and Google
Home buyers place YouTube as the number 1 video search site
“Increasingly, online technologies are driving offline behaviors, and home buying is no exception. With 90 percent of home-buyers searching online during their home buying process, the real estate industry is smart to target these people where they look for and consume information.” Said, Patrick Grandinetti, Google’s head of real estate, in a statement.
REALTOR’s that are winning the listing battle and selling homes grasp the trend of consumers use of the internet to research brokers/agents, homes, communities, prices and more. Previsite’s real estate marketing services for both brokers and agents create multi-media formats like video and virtual tours and distributes listings to YouTube, Facebook, Twitter and other sites primarily used by the consumer. Contact Previsite today to learn more previsitesales@previsite.com.
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