High tech or high touch

At the Real Estate Market Forum held at The Coeur d'Alene Resort last week, we heard that much of the "in-migration" to our beautiful county is from folks of retirement age. This caused us to wonder, "How do these folks find their homes?" The National Association of Realtors provided the answer in the results of their "Home Buyer and Seller Generational Report." The report states in part, "Younger generations of buyers typically find the home they purchase through the Internet, while older generations of buyers first found the home they purchased through their real estate agent."

In this age where technology rules it was a bit surprising to learn that many seasoned citizens are not using real estate websites to assist in their search, rather they appear to prefer the human touch. With a majority of people moving into the area over 59 years of age it may be time for some agents to re-examine their approach if they hope to attract these buyers.

Nearly every agent has their own website, allowing people to search for properties. Many spend large sums of money annually to advertise themselves on the top real estate search sites hoping to attract buyers. Still others take it to the next level with automated messages tied to a specific toll free number that identifies the listing the prospect is inquiring about. "Text me" it appears is the preferred method of contact for many and they attach text code numbers to their listings so prospects can access the listings on their phones.

While younger generations of buyers and sellers may prefer text messages to talking on the phone, you might find that even your text message is answered by an auto-responder or an assistant who lives out of the country. These "virtual assistants" can be hired for far less than a local one. One agent shared with us that they employ three virtual assistants, living in the Philippines, and working for $6 an hour.

The advantage to the agent is that they do not have to set appointments with their sellers for an agent to show their houses. An assistant does that for them. Many do not do their own listing entries into the Multiple Listing Service nor do they write the flowery descriptions that entice buyers to call. An assistant does that for them. It seems that many agents now have their businesses on auto-pilot, only intervening to answer questions that an unlicensed person is not allowed to do. If that works for them that is fabulous.

It is possible for you to purchase a home today using only the Internet for communication and to sign documents or transfer funds and many younger buyers appear to be OK with that. According to NAR's report, "Younger buyers tend to place higher importance than older buyers on agents' communication via email and text message, while older buyers place higher importance on personal calls."

During training sessions, agents are repeatedly told, "This is a service business." From the research it appears that to be a full service agent you not only have to know how to communicate through technology, but you have to be good at making and returning phone calls and meeting people face to face. A little high touch, especially with older buyers, is a good compliment to being high tech.

Trust an expert...call a Realtor. Call your Realtor or visit www.cdarealtors.com to search properties on the Multiple Listing Service or to find a Realtor member who will represent your best interests.

Kim Cooper is a real estate broker and the spokesman for the Coeur d'Alene Association of Realtors. Kim and the association invite your feedback and input for this column. You may contact them by writing to the Coeur d'Alene Association of Realtors, 409 W. Neider, Coeur d'Alene, ID 83815 or by calling (208) 667-0664.