NAR: Use of Internet for Home Search by Buyers Hits All-Time High at 92%

According to an Inman News article posted on November 4th,2013, “Use of the Internet among consumers in the homebuying process continues to grow, but those buyers are more, not less, likely to use a real estate agent, according to an annual survey from the National Association of Realtors.”  NAR’s study, which  was based on 8767 people who purchased a home between June

 

 

Picture 3 2012 and June 2013 , reported that  92% of the buyers used the Internet to search for homes, up from 90% last year  and 71% in 2003.  The report also indicated that 88% of the buyers used an agent.  Interestingly, 42% said searching online was their first step in the buying process, while 17% said their first step was contacting an agent.  In summary, buyers are using the Internet to search and agents to help with the purchase transaction.  As various local markets lead the recovery in the real estate industry, realtors need to match the consumers’ requirements for technology and services.  Consumers understand that purchasing a home is a complex transaction, one  that requires expertise to protect against the risk of mistakes and to guide the process to a smooth and successful completion.  Most homebuyers are tech-savvy enough to use property search applications  to find potential homes to buy.  Successful  realtors  include both requirements in their marketing strategies, and they provide home search (IDX) programs on their websites, so  prospective homebuyers can search MLS listings and generate buyer transaction leads directly to the realtor. Successful realtors also  provide a full set of services for buyers, both to achieve client satisfaction with the purchase, but also to generate future business (81% of the sellers used a full-services broker, and 63% chose the broker via a referral).   Agents who used to think that representing buyers consisted of finding and showing them listings from the MLS  now understand that they can rely on a good IDX system for some of the finding process, and they focus instead on responding to leads generated by the IDX, showing homes, and  managing the purchase process for the buyer.

Blazing Systems helps hundreds of Delaware Valley realtors with marketing strategies, websites,  and an industry-leading

IDX home search.  Please contact us to arrange a free initial consultation.

     Bill Patch

12/03/13

 

 

 

 

 

 

One Response to “NAR: Use of Internet for Home Search by Buyers Hits All-Time High at 92%”

  1. KWeDQrwwh says:

    372274 505353Woh I love your posts , bookmarked ! My wife and i take issue along with your last point. 52750

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