New home buyers start their research much earlier and take far longer to sign a contract than builders tend to think, according to new research.

In a study of buyer behavior that also could have strong implications for real estate brokers and mortgage lenders, the research found that on average, buyers of brand new homes take an average of nearly six months to ink a sales contract -- 84 days to do their research and then 80 more days to make up their minds.

When asked about the habits of their clients, however, the nearly 200 builders surveyed estimated that buyers did their homework over a far shorter 35-day period, and signed their names on the dotted line an average of 44 days later.

The fact the purchasers start the home buying process "much sooner than we think they do" means builders are "missing a big chance to get in their (customers') faces," said marketing specialist Dan Levitan of Ft. Lauderdale-based Levitan & Associates.

The study of some 1,000 buyers by Harris Interactive also found other areas of disconnect between them and their builders.

For example, while 52 percent use realty brokers, many builders still refuse to deal with real estate professionals or have no formal program for compensating them.

Also, whereas the two largest media buys on the part of builders are newspapers and "other" print publications – and 46 percent plan to boost their spending on print ads this year in the face of slower sales – web sites, signage and the Internet, in that order, were rated as a better source for finding out information by buyers.

Similarly, the Internet, radio and search engines all were rated by buyers as more useful than newspapers.

"The Internet does what we need to get in front of eyes for longer periods," commented Levitan, who presented the survey's findings at the National Association of Home Builders' annual convention in Orlando earlier this month. "It is more credible and valuable, and they say they would use it again."

But the research also confirmed similar findings of other studies that the Internet loses its luster if inquiries are not answered in a timely manner.

Nearly three out of four respondents said that the timeliness of a builder's response influenced their decision about from whom they bought a house, and 62 percent said they consider one day or less as an appropriate response time.

Published: January 25, 2006

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When Lew Sichelman first started writing about housing in 1969, he was the youngest real estate writer in the country. Now, 37 years later, he's one of the oldest -- and most decorated. He has been rated the top housing columnist in the country by the National Association of Realtors as well as by his peers in the National Association of Real Estate Editors. Indeed, NAREE has recognized his work on numerous occasions. One year - due to his advancing age, he can't recall which one - he earned top honors in the annual NAREE Journalism Contest in three out of the four major writing categories. It was the first time one writer has won so many NAREE awards in a single year. Known for his ability to make even the most difficult topics understandable, Sichelman also has been honored by the National Association of Home Builders and the Mortgage Bankers Association. He began providing in-depth coverage of and consumer-oriented information about housing and housing finance at the Washington Daily News, where he was real estate editor. He held that same position for nine more years at the Washington Star, which purchased the News in 1972. The Star, a so-called "writer's newspaper" which also had the misfortune of being an evening paper, was put out of its misery in 1981, and Sichelman, who had begun self-syndicating his column in 1978, decided to become a full-time columnist. Today, his column, "The Housing Scene," is distributed by United Media to newspapers throughout the country. He also is on the staff of National Mortgage News, an independent newspaper which is considered the bible of the mortgage business. And he writes for numerous other publications, including MarketWatch.com, where he answers readers questions once a week, Sports Illustrated (don't ask), RealtyTimes.com, BigBuilder and others. Sichelman is married, the father of five and grandfather of eleven.