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The Internet Homebuyer

THE "INTERNET HOMEBUYER" PROFILE

Person looking for home on the InternetAccording to the Royal LePage Home Attitude Poll released in February of 2001, more than 7 out of 10 Canadians (72.4%) will use the Internet in their next real estate transaction.

When researching the sale or purchase of a home, Canadians choose the Internet (38.5%) as their preferred source of Information. The Internet was second only to newspapers (45.1%), and ranked higher than advice from friends and neighbours.

The one point that was agreed upon most in the survey was that 8 out of 10 (84.9%) of Canadians say that it is important that their agent be tech savvy.

Another report from the California Assiociation of Realtors brought up the following results:

  • Traditional homebuyers looked at 15.1 homes with a Realtor prior to making a purchase, nearly twice as many as Internet buyers, who looked at 7.9 homes.
  • Internet buyers also spend nearly three times as much time investigating real estate markets before contacting a Realtor.
  • Most Internet homebuyers, 89% started using the Internet in the homebuying process "before they started looking for a specific home."
  • Most Internet homebuyers found their Realtor on the Internet (78%) at a Web site that listed a home they were interested in (88% of the 78%).
  • Internet homebuyers on average purchased a more expensive home than traditional homebuyers ($403,752 vs. $321,950)

Sources home buyers use when they go to purchae their next home.

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