Nearly three out of four home buyers now use the Internet as a tool when searching for a home, and those who use the Internet are more likely to use real estate professionals with the skills in computers and a state of the art website like
, according to a new survey by the National Association of Realtors?.
The 2003 National Association of Realtors Profile of Home Buyers and Sellers, based on transactions during the first quarter of this year, is the latest in a series of surveys evaluating marketing, demographics and other characteristics of home buyers and sellers. It shows that 71% of home buyers used the Internet in their search for a home during the first quarter of 2003, up from 41% during 2001.
NAR President Cathy Whatley says, “Nearly 90% of Internet searchers used a real estate professional, compared to 79% of non-Internet users.” The typical Internet home buyer is married and 38 years old with a household income of $70,700. By comparison, the non-Internet buyer is married, 47 years old and has a household income of $56,300.
Although most buyers surf the Web, only 11% first learned about the home they bought on the Internet, up from 8% in 2001. Forty-one percent first learned about their home from a real estate agent, while yard signs accounted for 16%; several categories accounted for 7% each: newspapers, builders, and a friend, neighbor or relative.
The typical first-time buyer is 32 years old, has a household income of $54,800 and makes a downpayment of 6% on a home costing $136,000. The typical repeat buyer is 46 years old with a household income of $74,600 and places a downpayment of 23% on a home costing $189,000.
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