Current Market Perspective                                                                                November 2006

HomeGain Perspective – Profile of the Typical HomeGain Buyer

Who is the average HomeGain homebuyer?

Dear Member Agents,

Did you know that working with a buyer from HomeGain is very similar to working with your offline buyers?

One big advantage to working with HomeGain buyers is that many have already gathered local community and housing information, before they speak with you. That translates into less work for you!

How motivated are HomeGain buyers to purchase?

By the time they select you as their agent, many HomeGain buyers are prepared to take action quickly. On average, our buyers tell us they expect to buy a home within 4 months. In fact, many begin working with, and close, with a HomeGain agent within 3.6 months of their initial registration on our website!

Recently, the California Association of REALTORS® (C.A.R.) conducted a survey comparing the behavior of Internet buyers and traditional buyers ( “ The 7 th Annual California Association of REALTORS® (C.A.R.) Internet Versus Traditional Buyers Survey”). C.A.R. found the number of homebuyers who now use the Internet as part of their home search has increased dramatically, “from 28 percent of all buyers in 2000 to 70 percent in 2006”, a 150% increase!

Additionally, that same study found “9 of 10 homebuyers hired an agent to assist in the home buying process”, rather than attempting to purchase a home on their own – that’s great news for the real estate industry!

Why do HomeGain consumers want to buy?

Our homebuyers have similar reasons for purchasing a home as consumers in the offline world.

The most common reasons HomeGain buyers indentify why they’re looking to buy a new property are:

Not surprisingly, these results are similar to what the California Association of REALTORS® found in their survey, which found “the Internet played a more important role in the home buying process for first-time buyers and Gen Xers than repeat buyers and Baby Boomers”.

This mix may change as 78 million baby boomers gradually move into retirement. This spring, ten percent of boomers indicate they plan to buy some form of real estate within the next year, of which two thirds expect to purchase a primary residence, according to the National Association of REALTORS®, in research conducted by Harris Interactive.

In summary, many HomeGain buyers frequently have more information at their disposal, and are more motivated to purchase a home more quickly than offline customers.

Best of luck, and happy selling,

Peggy Boehm
Director, Client Services
Licensed Real Estate Broker, CA, WA
HomeGain

Have feedback for Peggy? Submit to chelsey@homegain.com.