Thursday, October 12, 2006

Real estate attidude poll in LA Times

Came across this article online today and thought I would share it. Pretty interesting data if you ask me, especially the following:

3. Do you currently own your home, or do you rent?

* Own, 70 percent

* Rent, 28 percent

* Not sure, 2 percent

I thought that I read recently that home ownership was at an all time high. I thought the number I remember was in the 60 some odd percentile.

5. During the next (two years), do you think housing prices in your area will go up, go down, or stay about the same?

* Go up, 49 percent

* Go down, 18 percent

* Stay about the same, 32 percent

* Not sure, 1 percent

Put me in the not sure 1% group.

8. I'm going to read you a list of factors that might be important in buying or renting a home. For each one, please tell me if this factor is very important, somewhat important, not too important, or not at all important to you in buying or renting a home. How about ...


* Very important, 79 percent

* Somewhat important, 18 percent

* Not too important, 2 percent

* Not at all important, 1 percent

Total important -- 97 percent

Total not important -- 3 percent

You catching on yet Mr. and Mrs. Seller??

3. What tools or resources did you use in your search for a house or condominium? Did you

Use a professional real estate agent

* Yes, 62 percent

* No, 38 percent

Use the Internet

* Yes, 53 percent

* No, 47 percent

Check print newspaper ads

* Yes, 40 percent

* No, 60 percent

Visit open houses

* Yes, 37 percent

* No, 63 percent

Use friends or family

* Yes, 55 percent

* No, 45 percent

Drive or walk around looking for "for sale" signs

* Yes, 51 percent

* No, 49 percent

Using a professional is still number one, but I bet this question is confusing. I look at the numbers of those that say they use the Internet and I think the number is very low. I'm willing to bet the buyers probably started their search online and then called a broker.

18. When thinking about buying a house or condominium, how much do you worry about each of the following? How about

Paying above the fair market value at the time

* A lot, 39 percent

* Some, 39 percent

* Not too much, 11 percent

* Not at all, 10 percent

* Not sure, 1 percent

Total a lot/some -- 78 percent

Total not too much/not at all -- 21 percent

To me this is the reason that folks will still call a broker/agent to help them in the buying process. The public knows that we have the best data to help determine the correct asking price.

19. Which of the following resources are you using or do you expect to use in your search for a house or condominium? How about

Using a professional real estate agent

* Yes, 71 percent

* No, 28 percent

* Not sure, 1 percent

Using the Internet

* Yes, 74 percent

* No, 26 percent

These are great numbers as far as I'm concerned. Also this is why it is imperative that Association and MLS leaders must be willing to share data with searchable web-sites. The percentage of folks are going to use the Internet AND they are going to call a broker/agent. Let's make this process easier for all.


23. What would you say is the best feature available when conducting real estate research online?

* Photos of properties, 19 percent

* Search capabilities, 14 percent

* Variety and volume of listings, 10 percent

* Virtual tours, 9 percent

* More information available, 4 percent

* Ease of use, 3 percent

* Accessibility, 3 percent

* Free listings, 1 percent

* Price, 1 percent

* Other, 24 percent

* Not sure, 16 percent

Once again fellow leaders... it is spelled out right here. We can benefit the Members by addressing the needs of the clients that begin their search on the Internet. Yes we have to be smart about it, but we can't squash the opportunity or simply have the mindset that the data only needs to be protected.

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