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In 1964, 40 percent of home buyers read newspaper ads to find a home and seven percent drove
around looking for an open house. In 2014, 43 percent looked for properties online first.
The world we live in today is a digital one and searching for a home is no different. Buyers now
have apps that let them search by location and neighborhoods. Online listings have virtual tours so
viewers can look at a bunch of potential homes while narrowing down their search to a select few in
the effort to save time. Online searching maximizes the ability to compare and contrast homes on
the market by selected features. Most of this is done before a potential home buyer connects with a
real estate agent.
Also in 1964, 61 percent of home buyers contacted agents they knew. In 2014, buyers worked with
an agent 87 percent of the time to find their home, so trust in a REALTOR is still king. While the
initial process may start online, home buyers turn to the advice from a trusted real estate agent.
The difference is that home buyers are entering the process more educated about the market before
they speak to a home seller or an agent.
In addition to the home buying process, REALTORS also utilize technology in their everyday
business practices. Staying up to date with new technology is important, but also cited as one of
the biggest challenges for firms in the next two years.
Over 90 percent of real estate firms have websites, and the most common feature on their websites
were property listings. Along with web use, REALTORS are also using their mobile devices for a
multitude of different activities, with the primary being to communicate with their clients. In the
Real Estate in a Digital Age report, we examine the process home buyers go through in the initial
online search and how REALTORS are connecting with customers in the digital space.
How Buyers Use Technology in
the Home Search Process
Section 1
Sources: NAR Home Buyer and Seller Generational Trends Report 2015 & 2014 Profile of Home Buyers and Sellers
A Day in the Life of a Home Buyer
Sources: NAR Home Buyer and Seller Generational Trends Report 2015 & 2014 Profile of Home Buyers and Sellers
Age of Home Buyers (Percentage Distribution)
Definitions:
Generation Year Born: Median 25 to 34
Categories: Age (years) years =
Millennials/Gen 1980-1995
44 32%
Y/Gen Next:
Gen X: 1965-1979
Younger Boomers: 1955-1964
35 to 49 50 to 59
Older Boomers: 1946-1954
years = years =
Silent Generation: 1925-1945
27% 16%
Millennials make up the
largest group of first-time home
60 to 68 69 to 89
buyers at 68%, followed by years = years =
Generation X at 29%
15% 10%
Sources: NAR Home Buyer and Seller Generational Trends Report 2015 & 2014 Profile of Home Buyers and Sellers
First Step Taken During the Home Buying
Process (Percentage Distribution)
All Buyers:
Generational Data:
43% - Looked online for properties for
sale 28% of the Silent Generation
contacted a real estate agent
first
15% - Contacted a real estate agent
17% of Millennials looked
12% - Looked online for information online for information
about home buying process
10% of Millennials talked
7% - Talked with a friend or relative with a friend or relative
about home buying process
Sources: NAR Home Buyer and Seller Generational Trends Report 2015 & 2014 Profile of Home Buyers and Sellers
Information Sources Used in Home Search
(Percentage Distribution)
Didnt
search
websites
12% Didnt
use agent
13% Used
Didnt mobile
search on device in
mobile search
device 48%
52%
Searched
websites
88% Worked
with
agent
87%
95% of Millennials
Went to
Didnt
search
Found
yard
cited using the internet open
house
yard
signs
signs
48%
whereas only 60% did Didnt go
to open
44%
Generation
10%
46%
Searched
Search
with a
with an
different 52% iPad
tablet
Search
with an
iPhone Only 5% of Millennials search
with a windows based mobile
device versus 15% of the
27%
27% Silent Generation
Found
Search
home with
with an
a mobile
Andriod
app
Sources: NAR Home Buyer and Seller Generational Trends Report 2015 & 2014 Profile of Home Buyers and Sellers
Value of Website Features
(Percentage Distribution Among Buyers Who Used the Internet)
Photos and online information about properties were more important to Millennials
whereas virtual tours and real estate agent contacts were more important to Baby Boomers
37% Found
40% Found
neighborhood
virtual tours
information
very useful
very useful
Virtual tours was very useful for 45% of Baby Boomers and
the Silent Generation where only useful for 36% of Millennials
Sources: NAR Home Buyer and Seller Generational Trends Report 2015 & 2014 Profile of Home Buyers and Sellers
Length of Search (Median)
All Buyers:
24% of single females did not use the internet in their search
whereas only 15% of single males did not use the internet
Saving for No
the down difficult 24% of Baby Boomers noted there
payment steps were no difficult steps compared to
only 9% of Millennials
12% 16%
Source: NAR Home Buyer and Seller Generational Trends Report 2015
Satisfaction in Buying Process
(Percentage Distribution)
A persons satisfaction with the home buying process grows with age!
68%
70%
59% 59%
60% 56%
52% 53%
50%
40% 37%
35%
33%
30%
28%
30%
24%
20%
9%
8% 8% 8% 7%
10%
4% 5%
4% 3% 4% 4% 3%
0%
All Buyers 34 and younger 35 to 49 50 to 59 60 to 68 69 to 89
Source: NAR Home Buyer and Seller Generational Trends Report 2015
The Utilization of Technology by
Real Estate Firms
Section 2
Sources: 2015 Profile of Real Estate Firms and 2015 Member Profile
REALTORS Everyday Use of Technology
REALTORS most often prefer to communicate with their
clients through email, at 93 percent. As well, 85 percent prefer
to communicate through text messaging, and 35 percent
through instant messaging.
Sources: 2015 Profile of Real Estate Firms and 2015 Member Profile
How much of a presence do REALTORS
firms have on the web? (Percentage Distribution)
Only 7% of firms do not have a web site, compared to 91% who do have
a web site.
The percentage of firms with websites increases with office size. All firms
with between 10 to 99 and 100 or more offices have websites.
Commercial firms typically showed property listings (90 percent), agent and staff
photos (71 percent), and customer reviews and testimonials (40 percent).
46%
Section 3
Source: 2015 Member Profile
Preferred Method of Communication with
Clients (Percent of Respondents)
93 percent of members preferred to communicate with
their clients through e-mail, while only 26 percent prefer
to use postal mail.
Over 50 percent of
REALTORS use
their e-mail, laptop
desktop computer,
smartphone, or cell
phone daily. * Less than 1 percent
The 29 and
younger age
group was also
the most likely to
plan on creating
a blog in the
future.
Women REALTORS and sales agents are most active on social media.
Section 4
Source: Center for REALTOR Technology Survey
Todays members engage in a multitude of work
related activities using their mobile devices
(Percent of Respondents)
Over 90
percent of
REALTORS
use their mobile
devices to
communicate
with clients.
For real estate purposes these were the eight platforms that showed the
most participation.
Meredith Dunn
Research Communications Manager
Authors
Brandi Snowden
Research Survey Analyst
Amanda Riggs
Research Survey Analyst
September 2015