Tips & Trends for the Flagstaff Real Estate Market:
Past Articles [October 2003]
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How the Internet Is Affecting the Real Estate Industry in 2003
The trend to use the internet to find real estate and locate real estate agents has grown dramatically in the past couple of years. The following are some statistics from a report provided by the National Association of Realtors.
There's a major change underway in the world of real estate. In fact, it is the first time in real estate marketing history that more buyers have turned to the Internet than their local newspapers to find a home. According to the National Association of REALTORS® 2003 Profile of Home Buyers and Sellers, in the first half of 2003, two-thirds of homebuyers used the Internet to search for a home, while 49 percent of buyers reported using newspapers.
- Nearly 90 percent of Internet searchers used an agent to find a home.
- 18 percent found their agent online.
- 78 percent found photos useful.
- 77 percent found property information useful.
- 47 percent found virtual tours to be useful.
- 72 percent actually drove by or looked at a home theyfound online.
Figures from the National Association of Realtors for our area indicate that approximately 13000 property searches are conducted at realtor.com for Flagstaff and adjoining communities monthly. On average, properties in our local communities are viewed 326,000 times per month by consumers looking on Realtor.com. These numbers are astounding considering that this is only one web site. When you add in searches at azdailysun.com this publications web site, northernarizonamls.com our local multiple listing site as well as sites that are not as well known who knows what the numbers may be.
What does all of this tell us? If your home is on the market chances are great that it is on the internet and that it is getting looked at. If your are thinking about buying a home more than likely you have logged on and previewed potential properties. The internet has changed the way many industries are doing business and real estate here in Flagstaff is no exception.
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