CHAPTER 7
How Buyers Search for Homes
Data on how buyers found the homes they purchased fall into the following categories:
• 51% - Internet • 34% - Real Estate Agent
• 8% - Yard Sign/Open House Sign • 4% - Friend, relative or neighbor • 2% - Home builder or their agent • 1% - Directly from seller, or knew seller • 1% - Print newspaper advertisement
The longer the house sits on the market, the more intense the pressure on the seller to make a deal, because the price is likely to drop as time passes. Therefore, it is important to understand every possible avenue of getting your home in front of as many buyers as possible to decrease time to sale. Today’s real estate buyer is highly sophisticated and uses a variety of resources, both traditional and technical, to aid in their search for a new home.
REALTORS
Recent studies by CREA indicated that 89% of home buyers use an agent for their search for a new home and agents are ranked nearly equal with websites as sources of information and general usefulness. 36
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