As anyone selling a home in today's market will attest, a shift toward a buyer's market has taken hold in many regions throughout the United States. This current housing downturn presents new challenges for real estate businesses and individual agents across the country. According to a recent survey by Constant Contact(R), Inc., a leading provider of email marketing and online surveys for small organizations, nearly 50 percent of real estate agents cite finding new buyers and selling property among their top challenges.
WALTHAM, Mass. (Business Wire EON) October 31, 2007 --
As anyone selling a home in today’s market
will attest, a shift toward a buyer’s market
has taken hold in many regions throughout the United States. This
current housing downturn presents new challenges for real estate
businesses and individual agents across the country. According to a
recent survey by Constant
Contact®,
Inc., a leading provider of email
marketing and online
surveys for small organizations, nearly 50 percent of real estate
agents cite finding new buyers and selling property among their top
challenges.
Forced to contend with softening home prices and the resulting struggle
to attract buyers and close deals, many real estate agents are using
web-based marketing tools to support their sales and marketing efforts.
According to the survey, nearly 60 percent of respondents noted that
their websites and the use of email marketing, produce the best results
-- driving more buyers and sellers to their businesses. Among marketing
methods, email marketing ranked highest in cost effectiveness and speed
of delivery.
“With the current uncertainty in the U.S.
housing market, it’s more important than ever
for small real estate businesses and agents to find effective ways to
build strong client relationships,” said Eric
Groves, senior vice president of sales and business development,
Constant Contact. “Email marketing is an
essential communication tool that can help realtors better connect with
their clients and drive a greater number of transactions and referrals.”
The value of email marketing for the real estate market is measured
primarily in sales. In fact, the majority of real estate agents surveyed
(60 percent) said they use email marketing to communicate about property
listings and open houses and more than 35 percent of respondents stated
that they have rented or sold a property as a result of an email
marketing campaign. In addition, 40 percent of the agents surveyed do
their own marketing to communicate with clients and generate business.
Half of the respondents also expressed that email marketing is both
faster (24 percent) and less expensive (26 percent) than other marketing
methods, including direct mail and print advertisements.
“I am a real estate broker in an area that
has experienced a slowdown in business. I chose to use Constant Contact
to reach my clients in a more efficient manner,”
said Stephen Saunders, owner, The NextProperty Group. “I
have had great success with my email newsletters and recently ran an
online survey that gave me better ideas of what my clients are looking
for, which will help put me in the best possible position when the
market turns around in the Tri-City area.”
Click here
to view the full survey. Sample questions and results from Constant
Contact’s 2007 Real Estate Agent survey
include the following:
Which marketing method has been the most effective for your business?
|
Website
|
|
30%
|
|
Email marketing
|
|
27%
|
|
Direct mail (postcards, self-mailers, brochures)
|
|
13%
|
|
Print ads (real estate publications, newspapers, etc.)
|
|
10%
|
|
Paid search (i.e. Google adwords)
|
|
2%
|
|
Yellow Pages
|
|
0%
|
|
Radio
|
|
< 1%
|
|
Other
|
|
14%
|
How has using email marketing made a difference in your
organization's communications (compared with other methods)?
|
Less Expensive
|
|
26%
|
|
Faster
|
|
24%
|
|
Easier
|
|
18%
|
|
More professional looking
|
|
16%
|
|
Higher response rates
|
|
12%
|
|
Other
|
|
4%
|
What is the greatest business challenge you face?
|
Finding new clients (buyers)
|
|
32%
|
|
Finding new clients (sellers)
|
|
20%
|
|
Selling properties
|
|
16%
|
|
Generating referrals
|
|
15%
|
|
Renting properties
|
|
1%
|
|
Other
|
|
10%
|
Have you sold or rented a property directly as a result of an email
marketing campaign?
|
Yes
|
|
37%
|
|
No
|
|
58%
|
|
No Response(s)
|
|
6%
|
What types of communications do you send with Constant Contact
(please check all that apply)?
|
Featured Property Listings
|
|
20%
|
|
New Listings
|
|
18%
|
|
Neighborhood Newsletters
|
|
12%
|
|
Event Announcements (training, speaking events)
|
|
12%
|
|
Broker Open House Announcements
|
|
11%
|
|
Open House Listings
|
|
11%
|
|
Anniversary Cards
|
|
5%
|
|
Time Share Rentals
|
|
< 1%
|
|
Other
|
|
9%
|
* Constant Contact’s 2007 Real Estate Agent
survey was conducted from August 23 –
September 25 through targeted online distribution to U.S. small
businesses who are current customers of Constant Contact. Results were
recorded from more than 300 respondents.
About Constant Contact, Inc.
Constant Contact, Inc. is a leading provider of email marketing and
online survey tools for small organizations, including small businesses,
associations, and nonprofits. Launched in 1998, Constant Contact has
more than 130,000 customers worldwide today. To learn more, please visit www.constantcontact.com
or call (781) 472-8100.
This press release contains "forward-looking statements" within the
meaning of the Private Securities Litigation Reform Act of 1995. These
forward-looking statements are made as of the date they were first
issued and were based on current expectations, estimates, forecasts and
projections as well as the beliefs and assumptions of our management.
Words such as "expect," "anticipate," "should," "believe," "hope,"
"target," "project," "goals," "estimate," "potential," "predict," "may,"
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negative of these terms and similar expressions are intended to identify
these forward-looking statements. Forward-looking statements are subject
to a number of risks and uncertainties, many of which involve factors or
circumstances that are beyond our control. Our actual results could
differ materially from those stated or implied in forward-looking
statements due to a number of factors, including those factors contained
in our final prospectus dated October 2, 2007 for our initial public
offering as well as other documents that may be filed by us from time to
time with the Securities and Exchange Commission. Past performance is
not necessarily indicative of future results. We undertake no intention
or obligation to update or revise any forward-looking statements,
whether as a result of new information, future events or otherwise.
Constant Contact and the Constant Contact Logo are registered
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