Internet as a Tool for Home Buyers – Survey Shows
IN recent survey by California Association of Realtors (CAR), the “2004 Internet Versus Traditional Buyer Study”, it has been noted that more than half of home buyers use the Internet as a tool in scouting out their ideal new homes. Is especially useful for markets like Las Vegas where new sales were booming and all eyes are on the city as the pace slows a bit.
It has also been cited that in comparison to the traditional buyers, Internet buyers spend careful time in the Internet evaluating the multiple choices of homes in their corresponding locations. But once they are able to minimize their search to a few choices, they move in faster, since they have initially taken much consideration prior to meeting the realtor and checking the homes.
This doesn't mean though that the realtors role in closing the deal has also diminished. These Internet buyers would still meet with their realtors to verify the information they have gathered and to ask whatever is necessary before they finalize their homebuying. The professional advise is still sought after making these purchases, since it entails considerable investment. They rely on the realtors to offer the needed guidance through the process.
With this survey, it has also been found that for the first time, more than half of these respondents are now classified as “Internet Buyers”. From 28 percent in 2000, it has steadily been climbing up to 56 percent in 2004. And in turn, those considered as “Traditional Buyers” have declined from 72 percent in 2000 to 44 percent in 2004. This clearly shows there is now a shift in the manner through which the buyers conduct most of their purchasing procedures.
With the Internet now heavily used as a shopping window prior to making any purchase of homes, the number of homes previewed has also dropped. The Internet has no doubt provided the Internet buyers a better preliminary review on the homes they like, in a faster way, before they act and buy the homes they like.
It has also been cited that in comparison to the traditional buyers, Internet buyers spend careful time in the Internet evaluating the multiple choices of homes in their corresponding locations. But once they are able to minimize their search to a few choices, they move in faster, since they have initially taken much consideration prior to meeting the realtor and checking the homes.
This doesn't mean though that the realtors role in closing the deal has also diminished. These Internet buyers would still meet with their realtors to verify the information they have gathered and to ask whatever is necessary before they finalize their homebuying. The professional advise is still sought after making these purchases, since it entails considerable investment. They rely on the realtors to offer the needed guidance through the process.
With this survey, it has also been found that for the first time, more than half of these respondents are now classified as “Internet Buyers”. From 28 percent in 2000, it has steadily been climbing up to 56 percent in 2004. And in turn, those considered as “Traditional Buyers” have declined from 72 percent in 2000 to 44 percent in 2004. This clearly shows there is now a shift in the manner through which the buyers conduct most of their purchasing procedures.
With the Internet now heavily used as a shopping window prior to making any purchase of homes, the number of homes previewed has also dropped. The Internet has no doubt provided the Internet buyers a better preliminary review on the homes they like, in a faster way, before they act and buy the homes they like.
posted by realestatevegas | 9:04 AM
<< Home