Consumers use the internet to shop for real estate

Don’t act so surprised.

Nine out of 10 home buyers use a real estate agent in the search process, but use of the Internet to search for a home has risen dramatically over time, increasing from only 2 percent of buyers in 1995 to 77 percent in 2005; it was 74 percent in 2004. The next largest source of information for buyers is a yard sign, mentioned by 71 percent of buyers.

The median home price for sellers who use an agent is 16.0 percent higher than a home sold directly by an owner; $230,000 vs. $198,200; there were no significant differences between the types of homes sold.

The real estate profession is changing. Information is much more widely available. The value that a competent Realtor can add to a transaction is quantifiable both monetarily and in the consumer’s sanity and satisfaction. A home transaction is often the largest single transaction in one’s life; having competent representation is a good idea – and worth it.

The most important factor in choosing an agent was reputation, according to 41 percent of home buyers …

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1 Comment

  1. TrvlnMn January 19, 2006 at 02:07

    I can’t afford to buy right now, but when I want to get a sense of what’s for sale, where, and how much is being asked, or even as a “wow I wish I could afford that”… yes I use the internet.

    And when people post photos with their listings (yes photos are good) I’m always noting what’s shown and what’s not as well as the angles used to frame the photo.

    And just as an aside.. I hate the virginia brick ranch style of house. It’s uninspired. If it’s going to be small builders should go for a California bungalow style. But that’s just my opinion.