Buyers Using the Internet to Search For Homes
Trends in real estate marketing are evolving and changing almost daily. It wasn't that long ago we would all look through the various print publications to see what was available. Can you remember circling several of the ads and then beginning to make phone calls about the homes to get more information? Sure you can. In today's market only 17% of the buyers consider print media to be very useful. OUCH! That hurts when you consider that today's buyer considers the internet to be 99% useful.
Possibly the single most prolific factor in aiding a buyer in searching for a home is the Internet. Reviewing the "2007 Profile of Buyers and Sellers" survey conducted by the National Association of REALTORS shows just how prolific the internet is in helping buyers.
In the 2007 survey 84% of all buyers searched on the internet for homes. This represents a 13% increase in just the last 5 years. Some additional interesting statistics regarding buyers who search the internet for homes are they are typically younger, averaging 37 years old versus 52 years old for non users, and have a higher income, $76,900 compared to $60,400. The buyers who searched the internet for homes also placed a large emphasis on compiling as much information as possible and then utilized the services of a REALTOR to help interpret the data and assist with their home purchase.
So what does this tell us as real estate professionals? First off, you better have a website with a home search feature. Secondly you need to make certain that your site can be found by these buyers. Even in today's market, homes continue to be sold and a large portion of the buyers are finding their homes and their real estate professional online. You don't want to be left out do you?
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