Online Leads Account for 51% of Home Builder Sales
Online sales growth for the past five years signals buyer preferences were already changing, but the pandemic helped accelerate the trend toward online sales. According to latest Do You Convert data, 51% of home builder sales came from online leads in 2020. The online sales and marketing consulting firm for builders and developers says this is 20% higher than the 2018 rate when less than one third of online leads turned into actual home purchases. Livabl reports 96% of home searches begin online, meaning online sales programs are anticipated to see huge growth in the coming future.
Do You Convert collected data from more than 50 builder partners to compile the report. These developers logged lead conversion increases of over 70 percent during the frenzied late spring homebuying season compared to the same period a year prior. As a result, more companies brought on online sales specialists to follow up on these leads.
Throughout the pandemic, prospective buyers have been eager to take advantage of virtual sales tools. Zoom and FaceTime have allowed sales representatives and buyers to connect at their convenience without health risks. Videos, 3D tours and photo galleries are now the norm rather than the exception, giving buyers a feel for the layouts, finishes and available upgrades.