Dec 12 2008

Annual Survey

Published by at 8:55 am under General Information

Homebuyer Survey Contains Valuable Information For Agents and Sellers
One of the most useful research projects of the National Association of Realtors (NAR) is the annual survey of homebuyers and sellers. The 2008 version (Profile of Home Buyers and Sellers 2008) became available in November of this year.
Certainly the most useful information for sellers and their agents is to be found in the section on the home search process. While the survey results are not significantly different from those of recent years, the trends continue. For example, this year 69 percent of buyers said that they used the internet frequently during the search process, up from 60% last year. In 2003 that number was 42%.

Thirty-three per cent of buyers went to the internet as the first step in the home search process. 17 % contacted a real estate agent first, and 9% began by driving through neighborhoods looking for homes for sale.

Buyers use multiple sources of information in the process of looking for a home. Far and away the most used sources are the internet (87%) and real estate agents (85%). What is the third most used information source? Yard signs (62%).

Multiple Listing Service (MLS) websites were the primary source of information for buyers who used the internet in their search process. 60 percent of those buyers went to MLS sites. Of course, many went to a variety of different sites. 48 percent used Realtor®.com, 46% went to real estate company websites, and 43% went to sites hosted by individual agents.

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