"It's not surprising that more and more people are turning online during their search for property. As a country we are getting more and more used to using our computer and phones as a device to get information when and where we want it - which is obvious from the growth in online shopping," explained Justin Clarke, chairman and CEO of Privateproperty.co.za.
"This is mirrored in the property industry too. Those looking for property are looking for ways to make the process easier and less tiresome, and want to access information in the comfort of their own homes. Agents are tapping into this and investing more of their resources and budgets into those platforms which provide the most return on investment," he continued.
Although the majority of agents' budgets are still spent on print advertising in magazines and newspapers, perceptions of this channel are becoming predominantly negative, due to high costs and a low return on investment. The majority of agents see online advertising as the future of the industry, primarily due to the convenience it offers both those looking for property and those listing property.
Online portals are also being increasingly demanded by agents' clients as a platform for their property to be advertised on, and there is a strong perception among agents that their clients are becoming more tech-savvy, with a significant portion of them browsing online portals before any other medium. Many agents reported spending more time updating their listings on external portals than on their own websites, with a greater portion of their marketing budgets being spent on these portals than last year.
The rising popularity of these portals is credited not only to the convenience of browsing they offer property hunters, but also to their ability to display much more information on a property, such as virtual video tours. This contributes to buyers and renters being able to have a good idea of property before viewing, more so for example than flyers and print adverts, meaning that the leads generated by online adverts being a higher quality.
