Industry News

70% of all home buyers use Internet

Report: 'Internet' buyer now 'typical'

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Home buyers using the Internet are younger, wealthier, better educated and more likely to be married than traditional buyers, according to an industry survey released Thursday. Internet buyers also reported greater satisfaction with the home-buying process compared with traditional buyers. However, these two types of buyers have started to converge over the last few years, according to the California Association of Realtors' "2006 Internet Versus Traditional Buyer Survey," which examines their characteristics. The Internet buyer has become the "typical" home buyer, C.A.R. said, though important distinctions between Internet and traditional buyers remain. Since 2001, the share of home buyers using the Internet as an integral part of the home-buying process has nearly doubled to 70 percent. "The Internet is changing the dynamics between buyers and their agents, as well as the way business is conducted throughout the real estate industry. However, while the Internet has become an import...