NAR has some interesting data in their research update today. They looked at characteristics of buyers who use the Internet vs. buyers who don’t. The data shows that Internet buyers are younger and they make more money — I think we all knew that. What jumped out at me was how much longer they spend looking for a home and how many more homes they tour before buying. It’s back to what I’ve been carping about for ages: You have to have a system to tie that Internet buyer to you, but allows them to do their searching on their own. They have to recognize the value of working with you early in the search process and you have to deliver that value over and over again until they find the home they want to buy. I’m almost embarrassed to say it because I’ve said it so many times you may start to think I’m on the payroll, but Listingbook absolutely does that, and it does it better than anything else I’ve seen. If they are working with your MLS, you need to get involved today.
Characteristics of Home Searchers and Search Activity by Use of the Internet
(percentage distribution)
Source: 2009 NAR Profile of Home Buyers and Sellers