The Real Deal New York

The number of buyers who find an agent online is still only 9 percent

The vast majority of buyers still rely on word-of-mouth to find agents
September 29, 2018 10:00AM

(Credit: Pixabay)

The internet may be changing the real estate industry, but the amount of people who find an agent online has been stagnant for a decade.

Just 9 percent of buyers find an agent online, which was the same amount that did so 10 years ago, according to Inman, citing data from the National Association of Realtors. Buyers and sellers were both more likely to find an agent through friends and family, with more than 40 percent saying they found their agent this way.

The data shows that online advertising may not be as important as assumed for agents, while older forms of social networks can still be very valuable resources.

Notably, the amount of sellers who find agents online ticked up slightly to 5 percent in 2017, up from 3 percent in 2008, according to NAR.

Paul Bishop, vice president of research at NAR, told Inman this indicates that “even though there is more information than ever available to consumers through listing portals and other sources, would-be buyers and sellers rely on the positive experiences of others as the basis for choosing an agent.” [Inman]–Eddie Small