The Internet Buyer vs The Traditional Buyer
In today’s fast paced society more and more buyers are starting to look for homes on the Internet. A study done by The California Association of Realtors reveals some interesting facts we’re starting to see across the states, not just in California.
According to this study 92% of Internet buyers found their agent on a web site. This indicates and interesting shift from only a few short years ago, where most buyers were finding an agent through the newspaper, open houses, or word of mouth.
In 2000, 28% of the people surveyed said they used the Internet as an important part of their home-buying and selection process. In 2006 this percentage rose to 70%. This dramatic increase reinforces the “technological trend” we’re seeing, where buyers are becoming more computer savvy, and spending more time on-line.
86% of the home buyers started using the Internet as part of their search process BEFORE they started looking for a specific home, the other 14% used the Internet after they started looking but BEFORE they even contacted a real estate agent. What’s interesting here is that each buyer surveyed admitted they use the Internet on a regular basis to look for homes. Quite a shift from only a few years ago where everyone was looking for homes in “black & white”.
Internet buyers spend an average of 4.8 weeks doing research before even contacting an agent, while traditional buyers spend only 1.7 weeks researching.
Number of agents an Internet buyer interviewed on the median: ONE. Traditional buyers: THREE.
These are some interesting statistics if you think about the fact that purchasing a home is one of the LARGEST financial decisions you’re going to make in your LIFE. If you’re going to spend the time and resources to research homes on the Internet. . . . . . .why not take some time to research agents as well?
As a buyer, it’s not always in your best interest to simply contact the “listing agent” for a property you may be interested in. Taking the time to interview different agents, finding someone you’re comfortable with who will represent YOU and stand by your side in this important life decision is a wise investment.
According to this study 92% of Internet buyers found their agent on a web site. This indicates and interesting shift from only a few short years ago, where most buyers were finding an agent through the newspaper, open houses, or word of mouth.
In 2000, 28% of the people surveyed said they used the Internet as an important part of their home-buying and selection process. In 2006 this percentage rose to 70%. This dramatic increase reinforces the “technological trend” we’re seeing, where buyers are becoming more computer savvy, and spending more time on-line.
86% of the home buyers started using the Internet as part of their search process BEFORE they started looking for a specific home, the other 14% used the Internet after they started looking but BEFORE they even contacted a real estate agent. What’s interesting here is that each buyer surveyed admitted they use the Internet on a regular basis to look for homes. Quite a shift from only a few years ago where everyone was looking for homes in “black & white”.
Internet buyers spend an average of 4.8 weeks doing research before even contacting an agent, while traditional buyers spend only 1.7 weeks researching.
Number of agents an Internet buyer interviewed on the median: ONE. Traditional buyers: THREE.
These are some interesting statistics if you think about the fact that purchasing a home is one of the LARGEST financial decisions you’re going to make in your LIFE. If you’re going to spend the time and resources to research homes on the Internet. . . . . . .why not take some time to research agents as well?
As a buyer, it’s not always in your best interest to simply contact the “listing agent” for a property you may be interested in. Taking the time to interview different agents, finding someone you’re comfortable with who will represent YOU and stand by your side in this important life decision is a wise investment.
posted by Brittany Nigh at 7:31 AM
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