1. The Web is Stop #1: 90% of home buyers use the internet at some point during their search, but recently a study by the National Association of Realtors found that 52% begin their search online. Take away: Online presence is paramount. Consider staging your home for even greater appeal. Be sure your realtor takes high quality pictures-the more the better-sites filter by # of photos, so the more you have, the higher on the list your home will be.
2. Tried and True Methods Still Work: 45% of home buyers found open houses to be a valuable source of information. 53% were initially drawn to homes after seeing a realtor's sign in the yard and 27% used newspaper ads to find property information. Takeaway: Internet may be king, but don't discount the effectiveness of tried and true methods.
3. Buyers Hustle: Modern house hunters are not willing to sit back and wait. Not wanting to miss out on an opportunity, buyers are immediately acting upon properties that grab their interest: 75% drove by the house and 62% walked through it before ever enlisting an agent's help! Only 32% contacted the listing agent first. Takeaway: Curb appeal is important! With home buyers scoping out houses on their own time, it's crucial that yours provides a great first impression.
4. Financing is NOT Their Top Priority: Mortgages were surprisingly low on the list of buyer concerns, NAR found. Even with rising interest rates, buyers are more worried about finding the right home than financing it. Only 13% reported problems getting a mortgage, overshadowed by the 16% of respondents who reported NO problems at all during the entire home buying process.
5. Online Marketplace: 42% of home buyers found the home they ultimately purchased online. Real estate agents found the home purchased 34% of the time while 10% were bought as a result of seeing a yard sign initially. Takeaway: Make sure your realtor is tech savvy and aware of the latest technology. Your home should be found online easily and look as attractive as possible (think large, high quality photos, virtual tours, videos etc).