Posts Tagged as NAR Statistics

The Home Search Process is Moving Online

According to a new Profile of Home Buyers and Sellers, recently released by the National Association of REALTORS®, the Internet has become an essential and indispensable tool in the home search process.

• More than one third of buyers began their search for a home by looking online for properties for sale.
• 90% of home buyers used the Internet as one of the information sources in their home search process.
• The Internet continues to be increasingly popular among all homebuyers, while traditional real estate marketing methods such as print media are declining.
• In 2009, 36 percent of buyers reported that they found their home online, up from 32 percent in 2008.

How Buyers Search for Property
Information Sources used in Home Search

It’s important for real estate professionals to understand that the Internet is not replacing them. On the contrary – according to the NAR study, 89% of buyers who used the Internet, also used a real estate agent. And the vast majority of homebuyers still purchase their home through a real estate agent.

It’s not that the Internet is replacing agents, but agents who want to stay current and on top of their game need to harness the power of the Internet and use it as part of their real estate marketing campaigns.