Industry News

Internet home shoppers on the rise

More consumers spend more time online, less time with agent

Learn the New Luxury Playbook at Luxury Connect | October 18-19 at the Beverly Hills Hotel

More than half of all consumers now use the Internet when buying a home, according to a survey released today by the California Association of Realtors. The "2004 Internet Versus Traditional Buyer Study" also revealed that, compared with traditional buyers, Internet buyers spent more than twice as much time gathering information prior to contacting a Realtor. However, they moved much more quickly once they began to work with an agent, and spent less time previewing homes than traditional buyers. "The Internet has complemented rather than diminished Realtors' role in the home buying transaction," said C.A.R. President Ann Pettijohn. "While Internet buyers considered online information to be valuable, they ultimately turned to Realtors both for their interpretation of that information, and for their expertise and judgment throughout the home buying process." The share of buyers using the Internet reached 56 percent in 2004, and has risen steadily from 28 percent in 2000, the first y...