The National Association of Realtors® recently released the results of their Buyer & Seller Profile Survey that was conducted in 2008. As agents, we like to know where buyers are shopping for homes (RESOURCE). It is also important to know how the buyers first learned about the home they actually bought (SOURCE).
No surprise, the Internet is growing in magnitude for its importance in the home search process at 87%. However, Realtors® are THE leading originator for the home the buyer actually purchased (34%). The Internet came in a close second at 32%. Here is a chart showing the NAR Survey’s findings. The yellow bars shows the various resources buyers used when they were in the exploratory stage. The dark brown bars show the source where the buyer FIRST learned about the home they actually bought.
Click to enlarge graph
You might be surprised that the Internet isn’t higher than Realtor® as a source for the home actually bought. What might be happening is that although buyers do so much web surfing for homes, those homes may no longer be on the market. That’s a major flaw to many of the web sites. Realtors® have access to the MLS which does show whether the home is an active listing or not. Therefore, it’s not surprising that the buyer’s Realtor® will continue to be a main source for ACCURATE info on homes.
The data also indicates why Realtors® no longer place ads in newspapers and why the home magazines have become thinner. Those media sell the agent, but don’t sell the home. The print quality of newspapers is so poor that it doesn’t compare well with the crisp photos on the Internet. The lead time on magazines is so long that the home may no longer be available. Although open houses are still conducted, they also are diminishing in favor due to security concerns and the known fact that they seldom sell the home held open.
If you are a home buyer, how do your habits compare to this National data?
Copyright © 2009. Elaine Reese, Real Living HER. Reproduction of any portion of this blog post or the images is prohibited by the Digital Millennium Copyright Act. If this post is being viewed on any site other than www.ReesesPiecesOfRealEstate.com then the material has been stolen without permission. Violators will be reported.
Real Living HER was the winner of Columbus CEO’s “Best of the Best 2009″ award
Then it dawned on me that although we think this is new technology, I recalled that my father used his ham radio in much the same way as I use Twitter. Dad couldn’t post photos, but he could talk in real time to people in other countries while others listened in on the conversation.
House of Representatives Passes Health Care Reform Bill
This blog is for real estate and I intend to keep it that way. I don’t intend to turn it into a political blog but since our government is making decisions that affect the real estate industry, I’m finding that to keep you up-to-date on the real estate industry, I should advise you of those changes that impact your ability to own and keep your home long-term. I like to read “both sides” so I can be a better informed citizen.
Last night, the House passed a Health Care Reform bill. This morning there has been much discussion on Facebook and Twitter about the good or bad of the bill. I’m still trying to sort it out and determine how it will affect me. Maybe you’re trying to do the same thing.
So far, I’ve found a couple links … I’m sure there will be more, and as I find them I’ll add them here.
Here is an interactive map from the New York Times of how the Representatives voted by state. You can click over the map to see how your representative voted.
Here is a Wall Street Journal summary of some key points to the bill. Read through it to decide how it will affect your own life.
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Posted in Central Ohio, Commentary, Media, Newspaper
Tagged central ohio real estate market news, health care reform bill