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Radio Matters

Current news, information and insights about broadcast radio growth brought to you by the Radio Advertising Bureau (RAB), a not-for-profit trade association representing America’s broadcast radio industry.

Radio Works with Real Estate, One Home At a Time

Author: Nick Arias, Research & Insights Assistant, RAB

As adults journey through life, one of the milestones some may reach is the purchase of a home. It is a significant event, filled with anticipation and excitement for some. This event is most often made possible with the guidance and support of a real estate agent.

In the near future, the U.S. real estate market will be a vibrant mix of buyers of different generations. A study from Builder Magazine reveals this diversity, as 43% of today’s homebuyers are boomers, followed by millennials at 31% and Gen X at 26%. Interestingly enough, a survey conducted by Bankrate found that 31% of Gen Z homeowners have no regrets about their home purchase, showcasing the unique perspectives of this generation.  

According to the 2024 Profile of Home Buyers and Sellers, by the National Association of Realtors (NAR), 41% of recent home buyers looked online to take their first step in the home-buying process, while 20% of buyers first contacted a real estate agent. Eighty-eight percent of all home buyers used information from a real estate agent in their home search process, and 75% of homebuyers would use the same agent again or recommend the agent to others. With 14.6 realtors for every real estate brokerage (at 106,548 brokerages in the U.S., per NAR), there’s a great opportunity for potential home or property buyers (and home or property sellers) and to connect with a realtor.

Potential property buyers have used different real estate companies to assist them with buying property. According to MRI-Simmons, 57% have used Century 21, while 65% also used Keller Williams. Sixty-five percent used Zillow Offers, while 60% used another agent. This is great competitive information to share with prospective realtors.

Selling property is one of many things real estate agents do daily. Radio can aid to drive awareness for these agents’ real estate services. According to MRI-Simmons, 61% of respondents who used a real estate agent in the last 12 months to buy property are active radio listeners, and 63% of those who used a real estate agent in the previous 12 months to sell property also listen to the radio. Additionally, homeowners love radio – 68% of homeowners actively listen to the radio.

Radio listeners are high prospects for realtors. According to MRI-Simmons, potential home buyers are radio listeners, specifically:

  • 62% of homebuyers who used a realtor in the past year.
  • 65% of first-time home buyers.
  • 66% of those who are likely to buy a second home.

To conclude, radio can play a role in a real estate agent’s business to reach home buyers. Radio’s reach across generations of future real estate buyers is an opportunity for all realtors.  

This post was originally published on Radio Matters.