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Show SEPTEMBER 6 12. 2000 THE TIMES-INPEPENDEN- REAL ESTATE WEEKLY PAGE 9 T Survey finds technology is revolutionizing home buying Nearly four in 10 buyers now use the Internet to shop for their next home, according to a new survey released by the National Association of Realtors (NAR). NARs 2000 Profile of Home Buyers and Sellers, the latest in a biennial series of surveys evaluating marketing, demographic and other characteristics of home buyers and sel'ers, found that 37 percent of all home buyers use the Internet to search for a home, an increase in only four years. 18-fol- d The Internet is empowering consumers and making them more knowledgeable," said Mac Brubaker, president of the Utah Association of Realtors. Many buyers are using the Internet to look for their next home Pineridge Appraisal Teaguq'Hskelseri XegJsteredAppntscr ' 4 .V ' VC Phone: 43 5.686,2323 i ; Fax: 435.686.2284 P.Q.B ox:3 6 6,01d La Sal,V"i i'?-- Natalie CRCStervisor Approved By Most lenders quickly and easily, particularly in areas where inventory is low." The survey also foifrid that Internet shoppers are more likely to use real estate agents than shoppers are. Eighty-sevepercent of Web home shoppers use a real estate agent or broker, while 76 percent of traditional buyers work with an agent. Despite predictions that the Internet would diminish the role of agents, the study found that only 16 percent of homes were sold directly by owners in 1999, a slight reduction from 18 percent in 1997. In previous hot markets, as many as 20 percent of owners would try to 6ell without an agent. Also, the median selling price of a home sold directly by an owner was $113,000, while the median selling price of a home sold by an agent was $129,900. Technology has created a new delivery channel for real estate services, not replaced the old," Brubaker said. Whether they are shopping on line or on foot, most consumers still want a professional to interpret the data, non-Intern- n negotiate the transaction, provide expert advice and close the sale or purchase of whats likely to be the largest transaction of their lives." The study found that Internet shoppers buy more expensive homes than do traditional buyers. According to the 'survey, the median home price paid by a Web shopper in 1999 was $138,000, while the median price of a home purchased by a user was $120,000. Internet shoppers also earn more $69,900 median in- is, Brubaker said. In addition, the Internet is allowing buyers to shop and educate themselves at their own pace and at their own convenience, making it easier for people to take the next big step in contacting a real estate agent. transaction, Brubaker said. What this tells us is that buyers think its important to look far and wide to buy a home, but when it comes right down to it, real estate agents, along with their access to multiple listing services, are where the action For Whtihsz All Your Plumbing Needs: ucu'tt buying ccuIIUig... Cell Ultra Drtioc FtctUsut MkIU-- M at (anucnlcnds ' - Realty V - '' 4 V I or t9-S66- 4 tdO-ttQ- d Samlu Ilctlcn . Main Si Moab Seniors Discount Office; 435.2597870 New Construction Service, 131 N. Toll Free-- . CelL 800.350.8601 435260.1186 Repair mcabrealiof(59 lasal.net pi Saltillo Tile Talavera Tile Mexican Furnishings Mexican Tile & Interiors Showroom: 598 Northgate MB Grand Junction , Colorado 81505 Edward Hunt Steven Hunt New Stock Weekly, WholesaleRetail -- 970-245-14- 48 non-Intern- Pacific American Company Mortgage Service Inc. A Unit cf Mortgage Portfolio , Rena Carver Million Dollar Producer come vs. $55,800. Realtor.com, NARs Web 6ite, was the most popular Web site visited by buyers, cited by 61 percent of Internet shoppers. For all buyers, the average length of time from contract to closing was four weeks, compared with six weeks in 1997. The average home was on the market only five weeks in 1999, down from eight weeks in 1995 and ten weeks in 1991. 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