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Old 02-08-2007, 06:21 PM
Status: "Planning for the future." (set 10 days ago)
 
Location: Just south of Denver since 1989
10,695 posts, read 28,592,320 times
Reputation: 6871

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From a CAR study (edited by me):

-Internet buyers spent an average of 4.8 weeks doing research before contacting an agent; traditional buyers only 1.7 weeks. That means an Internet buyer is better prepared and twice as less likely to waste time;

- Internet buyers bought a home on average after spending 2.2 weeks looking for a home with an agent; traditional buyers spent an average of 7.1 weeks;

- Internet buyers previewed an average of 6.7 homes with their agent (they had already eliminated ones they did not wish to see), traditional buyers previewed 15.4 homes; an average of just under nine fewer wasted showings per customer;

- Only 3% of all Internet connections available at the primary computer used for the home-buying process were dial-up: Internet home buyers and searchers are not sticking with dial-up, just as they are not sticking with traditional methods;

- The approximate distance between previous residence and new residence for traditional buyers was 25 miles; for Internet buyers, it was 242 miles;

- Number of agents an Internet buyer interviewed, on the median: 1; Traditional buyers? 3.

- 69% of Internet buyers said response time was extremely important. 83% of those buyers chose email as their favored communication method with their agent. 0% chose "in person." (The Internet is the new "office visit.")

- Internet buyers were more satisfied with their agents: 4.3 to 3.3 for traditional buyers, on a scale of one to five where five is "surpassed expectations."

- 35% of traditional buyers listed "faster response time from my agent" as the one thing they would change, if they could, about their experience; Internet buyers? 0%!

Internet buyers were far more satisfied in every important researched category of satisfaction than traditional buyers were; when asked the number one reason for satisfaction with their agent, 91% of Internet buyers said that satisfaction was because their agent "was always quick to respond." Traditional buyers? Their number one reason was "worked hard on my behalf," chosen by 62% of them, leading us to conclude that traditional buyers did not find their agents "quick to respond."

An incredible 97% of Internet buyers said they would use the same agent again. Traditional buyers? 50%.

What do you think?

Last edited by 2bindenver; 02-08-2007 at 06:42 PM..
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Old 02-08-2007, 06:34 PM
 
20,378 posts, read 37,934,905 times
Reputation: 18194
I agree, that match's our experience pretty well. In our case:

- we moved 1750 miles.
- spent time in many states just to see what they were like
- spent hundreds of hours on-line with realtor.com looking at prices and home styles all over the country
- got great email service from our agent here
- picked our agent off the internet, a buyer's broker specializing in new homes
- used Cities Ranked and Rated by Sperling as a key data source, invaluable.
- books about retirement towns and low tax havens proved of little merit.

Colorado, especially Colorado Springs, came up a winner in so many categories it was a no-brainer for us.
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Old 02-09-2007, 08:20 AM
 
90 posts, read 593,184 times
Reputation: 44
We are internet buyers and completely fit the above profile.

We spend hours reading information that, prior to the internet, would have been impossible to locate. It's helped us narrow down our focus and get things done. For our upcoming 1000 mile move, it's not just about the real estate, either. I sent emails to movers who are giving us estimates that contain some 15 questions I want answered to make the best decision. They seem surprised that we're so thorough and it's going to make all parties more satisfied (except the movers who run for the hills rather than answer the questions, which makes ME more satisfied
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