2007 Real Estate Buyer – Did They Use the Internet?

How do I answer that with anything but a big fat DUH?

The National Association of REALTORS® (NAR) recently released it’s 2007 Profile of Home Buyers and Sellers. The conclusions are not at all surprising. If anything, what surprises me is how conservative the numbers are that they report.

For example, NAR reports that only 84% of all of the home buyers across the entire country used the Internet (100% of my personal deals were influenced one way or another by the Internet <thank you ActiveRain> – even personal referrals and such)– which coincidently is the exact same percentage of home buyers that used a REALTOR®! Now that is interesting.

Of all of the home buyers, 66% used the Internet frequently and 64% frequently use a REALTOR® when buying real estate.

The NAR results say that only half of all buyers used print media – basically the newspaper. (I know I quit advertising in the paper over a year ago, I just figured why should I support the newspapers when every issue I read has negative publicity on my industry – Real Estate. I for one have quit feeding the beast.)

Those Who Use the Internet – What Were they Looking For?

Once a consumer was online looking for a new home to buy, 96% used the 21str century medium to look at properties on the market. 21% were researching a particular area. 4% were looking for a REALTOR® to represent them (this is BUYERS – not SELLERS).

Once a consumer found a home on the Internet, 73% would drive by the home. 58% actually made arrangements to walk through the home. Fortunately or unfortunately I guess, only 23% contacted the selling agent (This means that buyers remained loyal to the agent they were already working with most of the time.). 22% were left wanting more information on the home.

Of all those who used the Internet to shop for a home, 29% of them actually found the home of their dreams on the Internet!!!

FSBO sites did not do so well. Only 20% of buyers using the Internet even visited a FSBO website. Only 3% of our buyer pool actually bough a FSBO.

SO WHAT DO WE DO WITH THIS INFO?

It seems very obvious to me, we need an intense Internet presence. I believe the day of an individual web site is very antiquated. A website that acts as a brochure on why I am the best agent for the job is also so very 1990’s. As a REALTOR® entrusted with millions of dollars in REO listings, I have to provide my clients with a marketing plan that exceeds every other REO agent in my market. Every property has to be able to be found in a Google search by it’s address on no less than 30 different popular websites not to mention the proprietary web presence I must maintain, making it easy for the consumer to find me and research all of my properties as well as my entire market.

My personal website needs an overhaul. Although I have been aware of these trends, when I see them in black and white, it is time to take action and once again position myself ahead of the curve, to provide my clients with the best possible representation.

Now Have a Blessed Day,

John Occhi, REALTOR®
Century 21 Crest - CrestREO
CrestREO.Com
Hemet - San Jacinto Valley
951-927-9473

Author of "What You Need to Know...About Foreclosure and How You Can Stop It!" - If you are a Hemet or San Jacinto Homeowner.

This blog and the contents written here is the intellectual property of John Occhi, Hemet California REALTOR®. The views and opinions expressed are just that - views and opinions of John Occhi and those who comment. Please note that I am not an attorney or a tax professional and any time I discuss either topic, I suggest you consult with the proper professional for relevant assistance.

This blog is part of the ActiveRain Real Estate Network, which is a social network highlighting the best of Web 2.0. Information is provided with the intent of educating and assisting home owners, home sellers, home buyers and real estate investors with information the can be used to make better real estate decisions.

I am proud to be a full time REALTOR® with Century 21 Crest and the CrestREO Division who is proud to be a contributing member of the ActiveRain community.