A recent study by the National Association of Realtors found that homebuyers identified the most difficult step in the home buying process was ‘finding the right property’. While not all consumers use the Internet in their home search, a growing number are first finding their future home online.
Forty three percent of today’s buyers are finding the home they purchased on the web, that number was just 8 percent in 2001.
The report found that finding the right property was ranked as the most difficult step in the home buying process. Since the Internet is now the first place many people go for information, it’s not surprising that 4 in 10 buyers looked for properties online as a first step in the home buying process (up from 36 percent in 2010). However, 88 percent of buyers in 2014 purchased their home with assistance from a real estate agent, up from 83 percent in 2010.
The president of the National Association of Realtors, Chris Polychron, said, “Consumers have the ability to do more home buying research online and be more connected during the home search process but the report proves they are still seeing the value a Realtor brings to the transaction, from the initial search to well after the closing.”