February 12, 2008
Web The First Step In Home Purchase
By Matthew L. Brown
A new study from the Massachusetts Association of Realtors concludes that 90 percent of buyers and 94 percent of sellers either searched for or listed their homes on the Internet in 2007.
The association said 35 percent of Massachusetts buyers went directly to the Internet as the first step in the home-buying process. Just 13 percent of first-time home buyers and 21 percent of repeat buyers reported contacting a real estate agent as their first step.
The typical Internet searcher was 37 years old and visited a median of 12 homes. The typical buyer who didn’t use the Internet was 60 years old and saw a median of eight homes.
The 2007 Massachusetts Profile of Home Buyers & Sellers, which is compiled by the National Association of Realtors, said the use of the Internet hasn't hurt real estate agents and brokers. The use of the Internet in the buying and selling process continues to rise, but 88 percent of home buyers bought their home using a real estate agent or broker, the association said.
The association said 84 percent of sellers used an agent or broker to sell their home. On average, homes were on the market for twice as long as the previous year, but sold for 97 percent of the listing price.
The association said 35 percent of Massachusetts buyers went directly to the Internet as the first step in the home-buying process. Just 13 percent of first-time home buyers and 21 percent of repeat buyers reported contacting a real estate agent as their first step.
The typical Internet searcher was 37 years old and visited a median of 12 homes. The typical buyer who didn’t use the Internet was 60 years old and saw a median of eight homes.
The 2007 Massachusetts Profile of Home Buyers & Sellers, which is compiled by the National Association of Realtors, said the use of the Internet hasn't hurt real estate agents and brokers. The use of the Internet in the buying and selling process continues to rise, but 88 percent of home buyers bought their home using a real estate agent or broker, the association said.
The association said 84 percent of sellers used an agent or broker to sell their home. On average, homes were on the market for twice as long as the previous year, but sold for 97 percent of the listing price.
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