The estimated number of internet users in Mexico by the end of this year, is an astounding 65 million. The number of users will directly impact the sales of the local real estate market. 82 percent of Mexico’s ever-growing populous utilize the internet to find homes. In fact, the number of online real estate inquiries has increased by 25 percent from 2013 according to Google Analytics. 24 percent of these real estate searches were carried out via mobile device in the last quarter of 2013, increasing to 38 in the same period in 2014. As a result of the growing Internet impact, people have more access to information, through websites and social media.
Agents throughout Mexico have concluded that this access is causing house hunters to be more drawn in and analytical in their search for property. Reducing time and optimizing each search through the filtration of locations, is encouraging buyers to move online.
Over half of the country’s population is under the age of 30, which presents the greatest opportunity for the local buying and rental markets. Research shows that Mexicans between the ages of 18-35 years old represent 52 percent of all online real estate inquiries in the country. This is the age group driving the real estate market and embracing new technology as it becomes increasingly accessible. They are encouraged by the transition online for the ease and speed of finding a suitable home.
This shift does bring some obstacles for real estate agencies. For agents, the difficulty lies in keeping up with the speed of the Internet; With so many people turning to classified sites, there is more pressure to provide on-the-spot answers to the leads delivered by online services.
According to studies, 46 percent of Mexican Internet users have bought a product after seeing online advertisements. This statistic highlights how imperative it has become for local real estate agents to have an online presence and make use of digital media and mobile marketing to promote their services. In a nutshell, it is important for agencies to adjust accordingly.
Ignoring the opportunity for online real estate can immediately allow the potential competitor to get ahead of the curve. Although the nature of Mexican real estate is changing, it is an exciting time to market strategies to ensure a positive user experience online and educate the industry.