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Demographics: Internet-savvy home buyers are more likely to use a real estate professional to complete transaction.
The Internet is a powerful tool for both home buyers and agents.
The Internet is a powerful tool for both home buyers and agents.
1. In 2004, 75 percent of home buyers used the Internet as an information source, primarily searching for listings.
2. Home buyers who searched for residential property on the Internet typically purchased homes that were 19 percent higher than other home buyers.
3. The Internet also helped facilitate action by home buyers. For example, nearly 70 percent of all Internet-using home buyers visited a home with a real estate agent as a result of their use of a real estate Web site.
4. More than three-quarters of Internet-friendly home buyers used a REALTOR® to complete the home search and close the transaction. This compares to 64 percent of other home buyers.
5. The most widely cited real estate Web site used by home buyers in the survey was REALTOR.com® at two-thirds of respondents. The second most popular site was the real estate company’s Web site with 41 percent of Internet home searchers visiting.
Source: The 2004 NATIONAL ASSOCIATION OF REALTORS® Profile of Home Buyers and Sellers
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