It has been publicized that as high a 90% of buyers use the internet at some point during their buying process. This doesn't mean they find their home while doing an internet search. The point being that technology is becoming an increasingly more important part of the search process.
I'm not sure the answers to your next two questions really exist. I would expect that the percentage of people that actuall find their property on line would be low. From our experience, buyers rarely buy the initial subject property. The real value of being able to access this information online is that buyers and sellers can monitor the market and keep informed about its activity. Being current is very important both as a buyer and as seller.
Contrary to what most would like to believe, the percentage of people still requiring an agent's assistance to identify their future home remains fairly high. It's usually the price and location that first attracts a buyer....beyond this there is a ton of services and percautions that agents provide as part of their service.
Things are changing....and this is good, but the need for a skilled and experienced agent's services remains a constant.
Thank you for your post.
Percent of home owners who search for properties online: when we combine the internet searches with the searches many agents send to their clients as links, the percentage is in the high 90's.
The percentage that actually buy the property they first saw online shrinks to 37%.
Here is what really happens: people start their search online, then over 87% connect with an agent, usually through a referral from a friend, neighbor, or family member, through a sign call, or by connecting directly through a site like Trulia.
After people connect with an agent, meet with the agent for an Initial Consultation (ideally), get pre-approved (usually with that agent's recommended lender), they start their real property buying experience.
In today's world, with the listing inventory available at all levels of accuracy on a plethora of web sites, it is not relevant to say a person ONLY uses an agent. The internet is now intricately intertwined into they way we brokers work. I have charts to show these statistics and more if you're interested.
I hope this answers your real question.
Great questions and a good response by Bill. He is correct in that 90% of Buyers use the internet at some point to search for homes. 79% use it frequently, and 11% occasionally.
What percent find their properties online? 47% found the home they purchased online, while 34% found their home thru their Real Estate Agent.
For your third question, what percent only use an agent to find properties? it goes a bit deeper for an answer. A way to look at it is that if 90% of buyers use the internet then 10% is remaining. The 10% that did not use the internet the breakdown is as follows: 40% used a Real Estate agent, 20% a yard sign, 20% from a friend or relative.
You have struck a cord with me, and I will write a blog post about this today and include an info graphic with further breakdowns. Keep an eye on it at http://jasonecook.com/blog/my-blog
It looks like you are located in Bellevue as I am too. If you would like to know more about the process and our current local market I would be happy to chat with you about it.
Aricles for you on your-road-home.com that will help you select an experienced ethical agent. Consultation, Interviewing Real Estate Agents. Stephen Webber
Most people use everything they can get to because no one explains to them that every property listed by all of the real estate agents are listed in one place, The Northwest MLS. There is an article that will explain on your-road-home.com. One you have access to the Northwest MLS you receive a list of every property for sale and a daily update of the new listings as soon as they hit the market. Your-road -home.com is the information I delivered to over 25,000 home buyers in the Seattle Met Area. The articles are numbered to help you with a step by step process that will serve you well. The list of articles are also listed in the left colum. There is a contact button to the right if you have questions. Good Luck, Stephen Webber
90% of buyers use the internet at some point during their buying process. That doesn't mean they find their home while doing an internet search. As you know technology is becoming an increasingly more important part of the search process. Most Buyers who shop online find a Realtor to represent them & help them sift & make sense of all the inventory.
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