Where to Find 2009 Home Buyers

While talk of a dwindling housing market continues, the real estate industry becomes more competitive. As a result, real estate professionals must respond with greater flexibility than ever and adopt a wider span of marketing and selling tactics. The good sign is that while the economy is weak, Americans remain surprisingly confident about the housing market. According to the 2008 National Housing Pulse Survey conducted by NAR, 85% of respondents believe that buying a home is a good financial decision, down only 2% from last year. And two-thirds of Americans believe that now is a good time to buy a home, which has gone up nearly 12% from 2007.

So where you do capture these interested home buyers? Many of you have turned to the Internet and social media networking (ie: ActiveRain), and for good reason. In a survey conducted by the National Association of Realtors in 2007, 84% of home buyers use the Internet to search for homes, which have gone up from 80% in 2006. While I don't have data for 2008, my gut tells me that this percentage would've only gone up. Furthermore, 82% of home buyers who used the Internet to search for a home purchased through a real estate agent. So if buyers most commonly begin their search online, where do you think YOU should be?

Most of you spotted this transition awhile back and have already shifted your focus in order to stay competitive. Based on a recent survey conducted by LORE Magazine, real estate agents are shifting their spending to online resources. 48% of agents are investing in website enhancements, while 47% are spending on technologies that include lead generation and customer relationship management systems. For 2009, 69% of agents plan to continue increasing their spending online.

What are your thoughts on the 2009 housing market? And what other strategies do you have in place to ensure a successful year?