HOW TO BEST SERVE

TODAY’S BUYERS -

HOUSE & LAND

HOW TO COMMUN ICATE

WITH BUYERS ALONG

THE JOURNEY

Data source: realestate.com.au 2020 New Home Buyer Research | This research was undertaken December 2019 - January 2020.

OVERVI EW

In this guide, we look closely at the most successful ways to communicate with house and land buyers. This guide unpacks preferred communication channels, alongside buyers

online activity to give you a well-rounded understanding of how you can provide value through communication with potential buyers. This guide will help you craft strategies

aimed at nurturing your buyers through the funnel.

91% of buyers use online as their method for research to inform their decision making.

66% of buyers use realestate.com.au as their main source of research.

24% of buyers want to receive communication

once a fortnight.

Data source: realestate.com.au 2020 New Home Buyer Research | This research was undertaken December 2019 - January 2020.

01

BUYERS ARE MORE ACTIVE

ONLINE THAN EVER

It doesn’t come as a surprise that buyers are overwhelmingly using online sources to research and guide their decision making, this is followed by word of mouth. We can see that property developers and newspapers fall low on the list when looking for information, buyers would rather turn to a real estate agent (46%), or a financial advisor/institution (45%) for information.

Third parties, such as real estate agents and financial advisors/institutions play a large role in the process as they can help alleviate some of the pain points first home buyers may experience.

We can see that buyers tend to look elsewhere before they turn to property developers when researching. Consider developing branded content and advertising on third party websites to drive traffic to your website.

Key insight:

Hot tip:

91%

45%

35%

54%

40%

15%

10%

Online

Real Estate agent

Display suites/homes/centres

Word of mouth

Financial advisor/institutions

Property developers(excl. website)

Regional/nationalnewspapers

Research Sources

Data source: realestate.com.au 2020 New Home Buyer Research | This research was undertaken December 2019 - January 2020.

02

THE TOP SOURCES FOR

ONLINE RESEARCH

Data source: realestate.com.au 2020 New Home Buyer Research | This research was undertaken December 2019 - January 2020.

03

Realestate.com.au

Google or other online search enginges

RealEstateView

ApartmentDevelopments.com.au

Builder website

Domain.com.au

Social media

REIWA.com.au

AllHomes.com.au

Urban

The Urban Developer

Property Land developer/project websites

Non-developer/builder channels

Online sources utilised for research

41%

27%

66%

25%

9%

43%

13%

3%

27%

11%

3%

3%

REALESTATE .COM.AU IS THE

LEADING ONLINE IN FORMATION

SOURCE FOR

BUYERS

Looking at the breakdown of online research sources, we can see that realestate.com.au is the clear leader in platforms where buyers are seeking information. It is interesting to note that most

of those buyers who use Domain to research, are also using realestate.com.au.

It is important to not discount social media. Social media plays a role in research, particularly for those younger buyers who are under 35.

Understanding where your buyers are doing their research, can help you target them more effectively. Consider creating sponsored content on sites like realestate.com.au, to get your brand in front of a targeted and qualified audience.

Key insight: Hot tip:

Data source: realestate.com.au 2020 New Home Buyer Research | This research was undertaken December 2019 - January 2020.

04

EMAI L DOMINATES WHEN IT COMES

TO PREFERRED COMMUN ICATION

CHANNELS

Email %

Social media %

Phone call %

Text message %

Push notification to my mobile phone %

Other %

When asked, buyers overwhelmingly chose email as their preferred channel to receive information from developers and agents. This finding was consistent across all segments and ages, indicating that all buyers prefer email comms. However, we cannot assume that this is the only way they like to receive information. It is important to build up a personal relationship with your buyers. Building trust and providing valuable information in those early stages is imperative. Spend time developing that relationship through a number of communication channels.

Email dominates, but we must not forget the value of building a personal relationship through secondary channels, such as phone calls.

People like to receive information on their own terms, email is one of the least intrusive methods of communication, which leads us to believe that when using other methods like phone calls it is best to garner when the timing of these calls suit best for your buyer - let them have some control.

Key insight:

Hot tip:

78

2619

158

2 2

21

138

2

85

18

310

86

616 18

113 6

13 1417

201416

91 92

Information about local area amenities or events

Property inclusions and options

New home designs or floorplan

options

Tips and “How To” guides on design

and styling

Tips and “How To” guides on buying

property

Communication preferences for the key information requirements

Data source: realestate.com.au 2020 New Home Buyer Research | This research was undertaken December 2019 - January 2020.

05

BUYERS WANT

COMMUN ICATION

REGULARLY

Communication frequency

Our research has found that buyers are looking for regular and consistent communication from you. Buyers typically seek to receive information from you on a fortnightly or even monthly basis, with 24% stating once a fortnight as their desired communication frequency.

Consider your buyer’s information needs, journey stage and channel preferences to get the most out of a fortnightly or monthly communication.

Remember that different types of buyers, whether they be first home buyers, subsequent buyers or investors, all seek out information at different stages of the purchasing journey. Consider setting up a communication plan for your sales team to understand how each type of buyer likes to receive information.

Key insight:

Hot tip:

As often as information is

available

Once a fortnight

Less often than once a month

Once a week

Once a month

18% 24%19% 19% 20%

Data source: realestate.com.au 2020 New Home Buyer Research | This research was undertaken December 2019 - January 2020.

06

KEY

TAKEAWAYS

Personal relationships should not be discounted. It is important to build and maintain a personal relationship with your buyers, even when they prefer receiving information via email. Spend time getting to know them and understanding their individual needs.

We know that buyers are spending more time online than ever researching and refining, so it’s crucial to build your brand story online. Consider creating content for a number of different channels in an attempt toreach all buyer types.

Be sure that you do not overwhelm your buyers with too much information. Understand what stage of the journey they are in and craft content that is relevant to their needs and pain points at that stage.

1

3

2

Data source: realestate.com.au 2020 New Home Buyer Research | This research was undertaken December 2019 - January 2020.

07

Visit developmenthub.realestate.com.au/insightsseries to learn more