San Diego Home Buyers – Surfing The Net?

Posted on April 5, 2007. Filed under: Home Buyers |

More and more San Diego Home buyers are surfing the Internet to find their next home.  According to the CALIFORNIA ASSOCIATION OF REALTORS® (C.A.R.), over the past few years, the Internet buyer has become the “typical” home buyer.  Today, over 70 percent of home buyers use the Internet as an integral part of the home buying system.  Compared to 2001, that is nearly double. 

“The Internet is changing the dynamics between buyers and their agents, as well as the way business is conducted throughout the real estate industry.  However, while the Internet has become an important research tool for home buyers, it has only enhanced the REALTOR®’s role in the transaction,” said C.A.R. President Vince Malta.  “Buyers continue to rely on their REALTOR® for help with interpreting the information gathered from the Internet and to guide them through the home-buying process.”

According to C.A.R.’s “2006 Internet Versus Traditional Buyer Survey”, more than nine out of 10 Internet buyers indicated that the Internet helped them to better understand the home-buying process.  Additionally, Internet buyers are accustomed to receiving more frequent communication and faster response times from their REALTORS®.

“More and more consumers have high-speed Internet access at home, enabling them to gather information on all types of products and services both quickly and easily,” said Malta. “This trend has carried over to the process of buying a home. As a result, home buyers are more informed, have a greater sense of control over the process, and hold high expectations concerning how quickly they receive information.”

Other key points from C.A.R.’s 2006 Internet Versus Traditional Buyer Survey include:

• The median age of Internet buyers was 39 years compared with a median of 42 years for traditional buyers.

• More than 9 out of 10 Internet buyers were married, while nearly 8 of 10 traditional buyers were married.

• Seventy-three percent of Internet buyers had at least a four-year college degree and 11 percent completed post-graduate work.  By comparison, 72 percent of traditional buyers held a college degree and 5 percent completed post-graduate work. 

• Internet buyers had an annual income of $184,900, compared with $148,910 for traditional buyers.

• Internet buyers spent an average of 5.8 weeks considering buying a home before contacting a REALTOR®, nearly three times more than traditional buyers, who spent 2 weeks in this stage of the home-buying process.

• Internet buyers spent 2.2 weeks looking for the home they ultimately purchased, compared with 7.1 weeks for traditional buyers.

• Fifty-four percent of Internet buyers said the information that they gathered from the Internet was less useful than that provided by their REALTORS®; none considered the information gathered from the Internet to be more useful than that obtained from their REALTORS®.

• All first-time buyers typically spent 5.3 weeks considering buying a home and 4.3 weeks investigating homes for sale before contacting a REALTOR®. They then spent 3.2 weeks previewing eight homes with their REALTOR®. 

• All repeat buyers spent 3.3 weeks considering buying a home and nearly three weeks investigating homes for sale on their own. They spent 5.4 weeks previewing 13 homes with their REALTOR®.

The Internet has brought many advantages to the home buying (and selling!) process.  Home buyers can “preview” homes by browsing through dozens of listings on the Internet or via e-mails that their REALTOR® should be sending.  It clearly saves time.  Why set foot into a home that you have never seen before?  It makes so much sense in today’s world to view photos and stats before viewing most homes in person.

For anyone who would like to search San Diego homes for Free, my website does have real-time MLS access.  There is no sign-up or registration.  You can begin your home search without any delay.  Enjoy! – Visit my Blog’s Homepage!


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