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According to the NATIONAL ASSOCIATION OF REALTORS® (NAR), real estate agents who use more sophisticated technology earn up to 75% more then typical agents who do not. The plain fact is simple: technology helps REALTORS® excel!
Home buyers who searched for homes on the Internet are actually more likely to use a real estate professional to complete the home search and close the transaction than those home buyers who did not take advantage of the Internet to conduct home buying search. A recent survey conducted by the California Association of REALTORS® (CAR), was used to isolate any significant differences between buyers who use the Internet as a part of their home buying process (Internet Buyers) and those who do not (Traditional Buyers). The results closely matched national trends that recently surfaced as well.
Internet Buyers devote more time researching and investigating their home buying options early in the process than Traditional Buyers. Internet Buyers spent an average of 5.8 weeks contemplating their home purchase before contacting an agent as compared to only a 2.1 per week average for the Traditional Buyer.
Internet Buyers also spent 4.5 weeks investigating the market before contacting an agent; almost 3 weeks longer then the average of 1.8 weeks spent by the Traditional Buyers. Amazingly, the Traditional Buyer then spent 6.6 weeks looking for a home compared to only 2 weeks for the Internet Buyer. At the same time, Internet Buyers saw significantly fewer home (7.5 homes) in their home search than Traditional Buyers who saw about double (15.2 homes).
72% of Internet Buyers found their home though a real estate agent compared to only 63% of Traditional Buyers. In fact, the 37% of Traditional Buyers who found their home on their own were more prone to visit open houses (37%), drive around looking for "For Sale" signs (34%), and search through the newspaper ads (19%). These numbers alone underscore the importance of having a well developed presence on the Internet for potential home buyers to locate, research, and utilize the entire home buying process.
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