NAR Profile of Buyers and Sellers 2012Reading the National Assoication of Realtors(NAR) Profile of Home Buyers and Sellers 2012 all we got to say is right on!  In the last year, this report states that over 90% of all buyers went to the web and 42% found the actual property they wound up purchasing in 2o12.  We have seen this in the Hilton Head Market, as buyers walk in with a few property printouts and ask us to show them these properties.  Other trends are listed below…

Hilton Head Realtors Embrace Technology

The way we do real estate is changing and with it comes great opportunity.  The internet moves information faster and we have to increase our speed in order to stay in the game.  Buyers no longer have to wait until their next visit to look around.  Today, buyers complete their research on the web before they go shopping.  So much in fact, that we have had buyers purchase properties sight unseen with a view or visit contingency.

Here are some interesting trends/statistics from NAR’s 2012 Profile:

  • The use of the internet rose to 90% for all buyers and for buyers under 46 this share increased to 96%!!!
  • 87% of all buyers used real estate agents during thier home search process
  • Nearly all the buyers ranked the Internet and the real estate agent the most useful information sources in their search process
  • Among buyers who used the internet to search for homes, 42 percent first found the home they purchased throught the internet
  • Sellers typically sold their homes for 95% of the listing price and 60% reported they reduced the asking price at least once
  • In this order, buyers value(1) internet photos(2)detailed information(3)virtual tours(4)agents contact information(5) interactive maps and (6)neighborhood information.
  • The top 3 websites buyers use are (1)MLS, (2), and (3)the real estate agents website
  • 50% of all buyers want help from their agent to find the right property and 24% want help with negotiations and terms
  • Over 40% of all buyers found their agent through a referral by a friend, neighbor or relative.

Bottom Line on Real Estate Trends

With 90% of all Hilton Head buyers going to the web and half of them are finding the actual property that they wind up purchasing, we embrace technology! Lately buyers have been walking in with property sheets and asking to see these.   We will take no short cuts when it comes to our sellers including a strong internet presencegreat photos, great content and virtual tours.  The days of just putting it in the MLS without photos and with only a few words in the description are over.  The game has changed!  Happy Buying and Selling on Hilton Head Island.