Who knew a search engine could tell you everything you need to know about a certain industry. The real estate industry on the whole – as we know – hasn’t been performing too well in the past couple years. However, with over 80% of users starting their search for a new condo or home online, any good internet marketing company will be able to deduce that going online will be the best way to gauge how the industry is fairing. For example, for the search term “San Fransisco condos”, only 1.8 million sites are competing for that term when less than a year ago in March, the result was roughly 7 million sites. This clearly shows a decrease in interest and also shows the current market for this product. Also, companies using PPC can gauge how their market as well. One can also deduce that if number of results are down, then you can also assume that PPC will be down as well. Less than a year ago, some companies were paying Google close to $12,000/month for terms like “San Fransisco condos” to be in the top spot and now companies are spending less than 20% of that budget for the same search terms in the top placements.
I find it extemely interesting how one search engine can theoretically tell you how well an industry like real estate is doing, generally speaking. It’s almost as if you no longer need to contact different sources to get different statistics regarding sales of new homes to get a general feel for how a market is doing. All you need to do is hop on your computer and do some internet marketing research in Google and you should have a pretty picture of your market.