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Internet buyers now Typical
The most typical buyer for Real Estate in a recent study done by CAR the California Association of Realtors in 2006 has been the Internet Buyer. The internet buyer is wealthier, younger, better educated and probably married than your traditional home buyer according to the survey CAR conducted. Also, internet buyer reported being more satisfied with the home buying process than the traditional buyer.
But in the last several years per CAR the two types of buyers have been converging and the survey that was done examines this issue.
Your internet buyer has become the typical homebuyer but there are some distinction between the internet buyer and the traditional buyer. Since 2001 homebuyers using the internet for the home buying process jumped to 70% almost a double of what it was.
The use of the internet has changed the way business is done between the buyers and their Realtors as well as the way business is done through the Real Estate industry. The role has improved the Realtors role in the real estate transaction because of the way the homebuyers have been using the internet as very useful tool in their home buying process.
Using the internet the nice out of ten internet buyers said the internet helped them understand the home buying process much better and also indicated that they were more in contact and in better communications with their Realtor along with faster response times.
Because more internet users have faster access to online information, they are able to receive quicker information about products and services. This same need for quick information has also been used for learning more about the home buying process and how it works and to help them be more educated and return this give the buyers a sense of control over the process when buying a home.
The traditional and internet buyer have said that their experiences in conducting home searches was much different than each other. The internet buyer did alto of research about the process of buying a home verses the traditional home buyer relied more on their Realtor for how the process is conducted
Other Findings by CAR
- The median age of the internet buyer was 39 and the traditional buyer was 42.
- More than nine out of ten internet buyers were married while the traditional home buyer was eight out of ten.
Internet buyer spent 2.2 weeks looking for a home they ultimately purchased versus a traditional buyer spent 7.1 weeks
- 54% of internet buyers said that the information they found on the web was less useful than the information given by their Realtor.