Real Estate Market Has Moved Online

The survey also finds homeowners are almost three times more likely to start property hunting online than they were last time they moved.

Additionally, the study finds among buyers aged 18 to 44 this figure jumps to 42 per cent, compared with 20 per cent of those aged 45 and over, a sign that online property searches are set to get more popular.

Increasingly, the real estate market has moved online. A 2004 study by the National Association of Realtors indicated that 74 percent of consumers begin the home buying process online, and 75 percent expect their agent to be Internet-savvy. In fact, according to industry analysts Borrell Associates, online now accounts for more than one-third of all consumer media time - making it more difficult for advertisers to reach consumers solely through such traditional media as television and print.

Finding a new property on the internet has certainly increased in popularity with the ease of searching from your own home and the ability to search thousands of properties at a click of a button revolutionising the process.

One of the largest changes in property hunting behaviour is that buyers are less keen to walk or drive around prospective locations when starting their search, the number of people favouring this method of house-hunting more than halving. More surprisingly, looking around an area on foot or from the car was the way one in three people say they found their last home.

This post was found on FSBO.FizBer.com
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