Internet Marketing

The online consumer is very important to home sellers, averaging higher incomes than their offline peers and spending more on the homes they purchase. Below are key statistics that demonstrate the importance of this audience in marketing a home.

Where buyer first learned about home purchased
 199719992001200320042005
Real estate agent50%49%48%41%38%36%
Internet248111524
Yard sign171515161615
Friend, neighbor or relative988777
Home builder or their agent343777
Print newspaper advertisement887755
Knew the seller434453
Home book or magazine332121
Other*4365*
2005 NAR Profile of Home Buyers and Sellers




Usefulness of information sources among those buyers that used each source
 Very UsefulSomewhat UsefulNot Useful
Real Estate Agent72%22%6%
Internet69274
Yard Sign494011
Open House424512
Newspaper Advertisement295219
Home Builder373626
Home Book or Magazine245125
Billboard193249
Television113455
Relocation Company163153
2005 NAR Profile of Home Buyers and Sellers




Value of online features
 Very UsefulSomewhat UsefulNot UsefulDid Not Use
Detailed Property Information 83%15%1%1%
Photos841411
Virtual Tours 5926610
Interactive Maps 4436811
Neighborhood/Community Information 3643913
Real Estate Agent Contact 29351422
2005 NAR Profile of Home Buyers and Sellers




Actions taken as a result of internet home search
 All Buyers First-time Buyers Repeat Buyers
Drove by/viewed a home 75%75%74%
Walked through a home viewed online 575657
Requested more information 252723
Found agent used to search/buy a home 212320
Contacted builder/developer 11812
Pre-qualified for a mortgage online 9117
Applied for a mortgage 565
Found a mortgage lender online 573
2005 NAR Profile of Home Buyers and Sellers




What homebuyers were looking for online
 All Buyers First-time Buyers Repeat Buyers
Properties for sale 95%95%95%
Information about an area 222122
A real estate company 554
A real estate agent 444
2005 NAR Profile of Home Buyers and Sellers
  • In the past few years almost 70 percent of Americans used the Internet regularly.
  • Approximately four in ten buyers now use the Internet to shop for their next home, nearly an 18-fold increase in only four years (NAR).
  • Three out of ten consumers who are accessing the Internet are in the market to buy a new property, or have been in the last six months (NPD Group for Media Metrix).
  • Nearly three out of four respondents report convenience (73 percent) and being able to do research before talking to a realtor (69 percent) as the top reasons given for searching for a new property online (NPD Group).
  • Seventy-seven percent of homebuyers consider detailed property information extremely valuable (NAR).
  • Sixty-seven percent of homebuyers believe using the Internet saves them time in their home search (NAR).
  • Buyers who use the Internet spend two weeks working with a realtor, one third the time it takes for traditional homebuyers (CAR Survey).
  • Homebuyers using the Internet are more satisfied with the home buying process than traditional homebuyers(CAR Survey).
  • Virtually all homebuyers who used the Internet in their home search found it to be valuable (NAR).
  • According to the NPD Group, 92 percent of consumers consider property photos extremely or very important.
What Consumers Are Demanding
  • In 2003, forty-three percent of home sellers demanded that their home be listed on at least two different Internet sites (2003 Profile of Home Buyers and Sellers).
  • Consumers require a better understanding and more control of the home buying process which the Internet provides (CAR Survey).
  • Buyers want to view information freely without identifying themselves to agents.
Elk Grove Village, IL
Real Estate
Houses for Sale

 

http://www.marealtor.com/content/upload/AssetMgmt/Documents/Member%20Resources/Research/2006MA_Buyer_Seller_Profile_Report.pdf