Real estate agents embrace new technology

Real Estate
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Real estate agents embrace new technology

Real Estate
Share this Post

It

seems like everywhere you turn these days, a

"dot.com" sign shows up.

During

last week's Super Bowl, a large number of the

commercials touted a new Internet company that

would make your life increasingly easier.

One

of the biggest users of the new technology is the

real estate community, according to a new study

The

association mailed a six-page questionnaire to

more than 40,000 members of the association to

garner their responses.

The

results show just how dependent the industry has

become on the Internet.

Among

the findings:

� Since 1996, the number of

Realtors using the Internet has jumped from 37

percent to 62 percent.

� Companies are investing more

in real estate hardware and software. The total

value of spending for technology by Realtors in

1998 was pegged at $500 million.

� Real estate professionals

who use a computer earn $22,600 more than

professionals who do not use technology.

� Nearly 61 percent of

consumers say shopping for real estate on-line

saves them time.

� Nearly nine out of 10

Realtors own or lease a computer.

� Seventy-two percent of real

estate firms and 57 percent of Realtors reported

generating some of their business from on-line

sites.

The

survey also generated interesting data about the

consumers who shop on-line for real estate. The

findings indicate that more buyers shop for

property below $200,000 than in any category,

while only 15 percent look for property more than

$200,000.

Those

customers who choose to peruse the Web for their

next homes also have very definite ideas about

what they want to see on a company's web page.

The most valuable feature, according to the home

buyers' survey, is detailed property information,

followed by neighborhood and community

information. The respondents also said multiple

pictures of the property and a map of the home

location are important.

Not

only are customers looking at properties on-line,

they're also inquiring about mortgages. Fifty-six

percent of home buyers proclaimed the Internet as

being "very useful" in finding a

mortgage. A survey conducted by Forrester

Research predicts that on-line mortgages will

make up 10 percent of the market by 2003.

Locally,

companies like Pathway Communities are making

their presence known on the web. A click of the

mouse on www.summergrove.com and residents can

find out about the new high-tech community

developing in eastern Coweta County.

Many

agents also have their own home pages. By typing

in "Fayette real estate" on a search

engine, interested buyers can find a huge number

of sources for real estate in the area.

The

Internet is ideal for residents moving into the

county from faraway locations; it provides tours

of homes and enough facts and figures to provide

several choices for a buyer.

The

study concludes that technology will play a

bigger role in real estate transactions and that

more and more buyers will be surfing the web to

find their dream homes.

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