| 1888 Articles Home | Finance Articles | Real Estate Articles | Real Estate RSS |  |
||
Research that Every Home Builder and Realtor Should See |
||||
|
Great statistics and research about recent internet and real estate research trends. |
||||||||||||
| Author: Newhomessection.com |
|
|||||||||||
According to the 2006 NAR Profile of Home Buyers and Sellers and “The Pew Internet and American Life Project,” the Internet is fast becoming a valuable tool for consumers in the market to buy a home. Important statistics support this claim, as the traditional method of buying a home evolves with modern technology.
1. When real estate companies were asked about their use of a website, an overwhelming majority (87%) report that they have a company website.
Real Estate Companies that Use a Website
Yes - 87%
No - 9%
No Response – 4%
2. When Internet consumers bought homes, a large percent (81%) of them continued to use an agent or broker to assist in the purchase.
Method of Home Purchase by Those Who Use Internet
Agent/Broker - 81%
Direct from Builder - 10%
Direct from previous owner - 5 %
No Response – 4%
Source: 2006 NAR Profile of Home Buyers and Sellers
3. Real estate agents diversify their listings online. Most Realtors® have listings on several types of websites, including 30% who use a Franchiser’s website.
Placement of Realtor® Listings
Realtor.com - 82%
Local Realty Firm Website - 76%
Local REALTOR® Association Website - 50%
Franchiser's Website - 30%
Broker IDX/Broker Reciprocity Website - 29%
Source: 2006 NAR Profile of Home Buyers and Sellers
4. As a result of using the Internet, homebuyers are inspired to take actions toward purchasing their new home.
Actions taken as a result of using Internet site (%)
Drove by/viewed a home - 74%
Walked through a home - 61%
Found agent used to search/buy home - 23%
Source: REALTORS® and Technology: The 2004 National Association of REALTORS® Technology Impact Survey Report
5. The largest majority of consumers use a real estate agent and/or the Internet as a source to find a new home.
Information Sources Used in Home Search
Real estate agent - 85%
Yard sign - 63%
Internet - 80%
Newspaper - 55%
Home book/magazine - 34%
Open house - 47%
Builders - 26%
Television - 11%
Relocation company - 5%
Source: 2006 NAR Profile of Home Buyers and Sellers
6. The percentage of all Internet users who have gone online to search for information about a place to live has increased steadily in recent years.
Percent of All Internet Users Who Have Searched Online for a Place to Live
2000: 27%
2004: 34%
2006: 39%
7. Recent trends show a direct correlation between age and use of Internet to obtain information about a place to live. In general, as age increases, consumers’ Internet use decreases.
Internet users who have searched online for information about a place to live, by age category:
18-29 years: 51%
30-49 years: 43%
50-64 years: 27%
65+ years: 15%
Source: The Pew Internet & American Life Project, December 2006
8. Among consumers who actually found a new place to live during 2004-2005, half of them (50%) responded that the Internet had played a role in helping them make that change in their lives. Of those who responded this way, one-third (33%) said that the Internet had played a “crucial” role in their decision. Another third (33%) said the Internet played an “important” role, and a final third (33%) said the Internet played a “minor” role in their decision. This shows a major increase from the previous three years.
2002 2005
Buyers who said the Internet played a role in their decision 38% 50%
Role Internet played in their decision
Crucial 9% 33%
Important 13% 33%
Minor 16% 33%
9. Internet users increasingly utilize housing-related resources available online that they would otherwise be unable to access.
Internet users who have used “Virtual Tours”:
November 2004 45%
August 2006 51%
Internet users who have used online classified ad sites:
September 2005 22%
August 2006 30%
Source: The Pew Internet & American Life Project, December 2006
Compiled by NewHomesSection.com
About Author
http://NewHomesSection.com lets new home buyers browse Arizona new home listings from builders across the Phoenix area. New home ads for new developments and communities are updated daily. Browse Arizona New Home Listings at http://NewHomesSection.com!
Article Source:
http://www.1888articles.com/author-newhomessection.com-6226.html
