According to one of the largest surveys of real estate consumers ever conducted - Technology and the internet is transforming how North Americans buy and sell homes in unexpected ways and how they work with real estate brokers and agents. The study was released today by the National Association of Realtors®.

Over the last 12 years, home buyers have increased their usage of the internet to find homes drastically. In 1995, only 2% of home buyers used the internet to search for a home, in 2005, it has risen to 77%. Even with the high use of internet, 9 out of 10 home buyers still use a real estate agent in their search process.  The next largest source of information for buyers is a yard sign, mentioned by 71 percent of buyers. Real estate agents have started to adapt by advertising websites on their yard signs.

When asked where they first learned about the home purchased, 24 percent of buyers identified the Internet, up strongly from 15 percent in 2004 and only 2 percent in 1997. Although most buyers use an agent to complete the transaction, 36 first learn about the home they buy from a real estate agent and 15 percent from yard signs; five other categories were 7 percent or less.

THE NUMBERS SPEAK FOR THEMSELVES
77% OF ALL HOME BUYERS USED THE INTERNET AT SOME POINT DURING
THEIR HOME SEARCH VS. ONLY 53% FOR NEWSPAPERS.

MORE Affluent

    * Internet buyers have more disposable income. The median income for Internet buyers was 18% higher than the median income for traditional offline buyers
    * The median price of a home purchased by an Internet buyer was 34% higher than the median price of a home purchased by a traditional offline buyer. Higher prices can mean more upgrades and better margins.

MORE Qualified

    * Do you offer financial products and services? 67% of Internet buyers go online to get information about home financing and down payments.
    * Armed with more knowledge, Internet buyers move faster. 98% of online buyers felt that the Internet helped them better understand the home buying process.
    * The Internet drives traffic to your homes. 72% of Internet home buyers drove by the home they looked at online and 51% toured the home.

MORE Satisfied

    * A satisfied buyer is more likely to provide referrals. 95% of Internet buyers were completely satisfied with the overall process of finding a home vs. only 32% for traditional offline buyers.
    * The Internet is one of the most effective methods for attracting the highest quality buyers. 100% of all online buyers indicated that that they were likely to use the Internet for future home purchases.

For More Information, Contact Your Sales Representative At 416.439.8488 or E-mail This e-mail address is being protected from spam bots, you need JavaScript enabled to view it