Despite predictions by many that the Internet would disable the traditional real estate industry, the medium is proving to be as beneficial for marketing by agents as it is a homebuying tool for consumers, according to the results of the latest study by the National Association of REALTORS(TM).

NAR’s “2002 Profile of Home Buyers and Sellers,” the latest in a biennial series of surveys evaluating marketing, demographic and other characteristics of home buyers and sellers, shows that not only are more buyers using the Web to shop for a home, they are also more likely to be represented by a real estate agent or broker and two-thirds say they were satisfied enough that they would use that agent again.

Sixty-two percent of buyers with Web access surf the Net to shop for a home, while 41 percent of all home buyers use the Internet as a search tool, up from 37 percent in 1999.

Seventy-seven percent of all Internet home shoppers buy a home through a real estate agent or broker, compared with 64 percent of traditional buyers.

“While the Web is great in providing information, the survey tells us that consumers rely on real estate professionals to provide context to their research, and to provide services that guide them through the negotiation and transaction process,” says NAR President Martin Edwards, Jr.

Not only did the number of buyers increase who are using the Web to search for a home or information, but for the first time ever, homebuyers used the Internet as much as they used newspapers as a home search resource.

Forty-one percent of homebuyers surveyed in the biennial report said they used the Internet as a home search resource, up 4 percent from 2000. Forty-one percent also said they used newspapers, down 2 percent from 2000.

More consumers using the Internet over other search means is good news for the 53 percent of brokers and agents who use the Internet to market themselves, their services and their listings, a rise of 14 percent from 2000.

For the first time, agents' use of other forms of marketing declined except the Internet, including yard signs, newspapers and home magazines, and word of mouth from friends and relatives.

That's good for lead generation service providers such as Realtor.com and others.

Sixty-six percent of homebuyers who used the Internet in their home search process accessed Realtor.com, an increase of 5 percent from 2000. The site, which currently offers two million homes listed for sale, attracted more than 35 million unique users in 2001, says the company.

The survey also found that for the first time, the method consumers used to first learn about homes favored the Internet. In 2002, eight percent of homebuyers said they first learned of the home they bought on the Internet, compared to seven percent having learned about their home from newspapers. This figure doubled for the Internet from 2000 and has doubled in every NAR Home Buyers and Sellers survey since 1996, points out Realtor.com.

Why the exodus to the Web? It saves time, according to 63 percent of homebuyers. The Internet is also a preferred tool of first-time homebuyers who grew up using computers and the Internet.

First-time home buyers are typically 31 years old, and accounted for 42 percent of sales in 2001 as they have throughout the 1990s. The average age of move-up buyers is 41.

Published: June 14, 2002

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Blanche Evans is the award-winning senior editor of Realty Times, the Internet's leading independent real estate news service. She is featured daily on the Realty Times Video Network in the "Realty Viewpoint" segment. Blanche has been named one of the "25 Most Influential People In Real Estate" by REALTOR Magazine, and has been twice recognized as a "notable." In 2005, she was named "Top Reporter Covering the NAR" by Delahaye-Bacon's. Blanche is a renowned author of five real estate books. Her newest, Bubbles, Booms and Busts: Make Money In Any Real Estate Market, McGraw-Hill, was rave-reviewed by The New York Times. She was also selected from hundreds of real estate experts to contribute to Donald Trump's book, Trump: The Best Real Estate Advice I Ever Received: 100 Top Experts Share Their Strategies, Rutledge Hill Press, and is featured on page 68. Order Now Review - Honors In 2006, Blanche was selected among scores of candidates to author two consumer real estate guidebooks for the National Association of Realtors: The NAR Guide to Home Buying, and The NAR Guide to Home Selling, Wiley & Sons. She is currently planning two new books for the NAR and its members.       Known for her keen insight into real estate industry issues and for her ability to make complex subjects easy to understand, Blanche is a sought-after keynote and continuing education speaker. Real estate organizations from MLSs, to brokerages, to franchisors, to associations hire her to provide up-to-the-minute analysis of real estate industry news and advice on how to improve revenues. Her passionate delivery, peppered with stinging wit, is a huge hit with audiences and fans. Don Klein, CEO Greater Nashville Association of Realtors, Blanche Evans, Richard Courtney, president 2007, GRAR "The GNAR membership meeting last week featured Blanche Evans as the keynote speaker. Her comments and insights resonated extremely well with those in attendance and we have had many requests for copies of her PowerPoint Presentation. She was a terrific part of the membership meeting and convention program!" - Don Klein, CEO Greater Nashville Association of Realtors Coverage from WSMV, Nashville - 8-14-2007 That Interview Guy - Get Inside The Head Of Today's Generation 2007 AE Institute Session - To purchase 2006 AE Institute Session - Parts 1 2 3 4 5 6 7 8 9 HouseValues Mastermind call - Parts 1 2 Blanche's fireside chat with Jeremy Conaway, HAR - Click here. To contact Blanche, email her at . For more articles by Blanche, click here.