A recent survey by the National Association of REALTORS (NAR) shows that homebuyers, especially younger ones, are more likely to find information on homes via mobile apps and websites than yard signs and open houses.
“While yard signs and open houses have historically been used most frequently after online websites and real estate agents, the use of mobile technology is now outpacing these traditional sources in the home search process,” the 2014 NAR Profile of Home Buyers and Sellers stated.
Further, buyers are more likely to locate the home that they finally end up purchasing through their online searches than through an agent. The breakdown of how homebuyers found their home in 2014 is as follows:
Internet – 43%
Agent – 33%
Yard or Open House Sign – 9%
Friend/Relative/Neighbor – 6%
Home Builder or Their Agent – 5%
Directly from Sellers – 3%
Print Advertisement – 1%
According to the survey, the Internet has proven to be a more useful, central tool that home buyers prefer to use over seeking the help of an agent. In fact, 88% of survey takers said that they frequently or occasionally implement web searches for finding a home. What’s more, 43% of people said that they first search for properties online before anything else. Only 15% said they find an agent before beginning their home search.
This doesn’t mean that homebuyers aren’t using agents anymore, as 90% of buyers who searched for their next home online did end up using an agent for their purchase. Notably, an increasing number of buyers are also finding their agent online.
As the importance of the Internet continues to increase, agents must make certain that they have a strong online presence. A good idea is to have a website that includes both your listings for buyers to find and your personal profile – essentially making your site a one-stop-shop for homebuyers to locate homes that they are interested in and then contact you for your professional services.
If you feel that you do not currently have a strong enough online presence, or you would like to have your own comprehensive, real estate website, then reach out to us here at Social NetworX Inc. by calling (909) 786-2107. We look forward to working with you on improving your business.