• The typical buyer is now an Internet buyer. Homebuyers who used the Internet as an integral part of the home buying process increased significantly in the past six years from 28 percent of all buyers in 2000 to 70 percent in 2006, as high-speed Internet access became increasingly popular.
  
  
• Socioeconomic differences between Internet buyers and traditional buyers have become less apparent as more buyers use the Internet, but the two groups continued to behave differently when it came to the home buying process.  Internet buyers devoted more time researching on their own before meeting with an agent compared to traditional buyers, but they spent less time working with an agent, during which they viewed significantly fewer homes before making a purchase.
  
  
• Buyers reported that the Internet provided a greater sense of control, especially with real estate Web sites becoming more consumer-friendly.  More than nine of ten Internet buyers indicated that the Internet helped them better understand the home buying process and put them in more control of that process. 
  
  
• Although the Internet has become an important research tool for home buyers, most considered it an information resource rather than a substitute for a real estate agent.  Nine of ten homebuyers hired an agent to assist in the home buying process. 
  
  
• Internet buyers were generally more satisfied than traditional buyers on every aspect of the home buying process.  Home buyers were satisfied with their agent primarily because of their agent’s quickness in response and hardworking ethics. One common source of dissatisfaction shared by both Internet buyers and traditional buyers was the late closures of their escrows. 
  
  
• The Internet played a more important role in the home buying process for first-time buyers and Gen Xers than repeat buyers and Baby Boomers. 
  
  
• First-time buyers placed a high expectation on their agent’s responsiveness, not only in the agent’s selection process, but also throughout the entire home buying experience. 
  
  
• In the future, agents who want to maintain their competitive edge will need to become familiar with the ever growing array of online consumer home buying tools, broaden their online presence, and enhance their communication with clients through the use of the latest Web trends such as blogs and podcasts. 

The New Jersey Association of REALTORS® partnered with the National Association of REALTORS® on the 2003 Profile of New Jersey Home Buyers and Sellers. The 2003 Profile was based on transactions during the first quarter of that year.  The survey revealed that over 93 percent of buyers who used the Internet were looking for property listings yet only 44 percent of home sellers used the Internet to market their homes. The most highly valued online features are detailed property information (98 percent), virtual tours (87 percent) and interactive maps (68 percent). Although most home buyers searched the web, only 10 percent found the home they purchased on the Internet. Forty-nine percent first learned about the home they purchased through a real estate agent, 11 percent through a friend or relative and 9 percent through the newspaper.