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September 3rd, 2008 9:49 AM by David W. Welch
...at least not in the Sunshine State. A recent study conducted by the Florida Association of Realtors shows that an overwhelming majority (98% of those surveyed). This confirms what I have been seeing personally, and hearing from other agents that I know. The investors are the missing component of our market here in Orlando. In the past, investors and second home buyers have made up a considerable percentage of our market. What we are seeing right now as far as the volume of sales represents the base buyer which is people actually looking for a permanent residence. Another interesting finding is that a fairly large number of those buyers are first time buyers (about 15%).
The most important thing in the study to me is where these buyers said they found their agent. A huge 73% found their agent on-line. We have heard for years that about 80% of people start their home search on line, but now it is becoming a much larger factor in how people select their agent as well. About 11% found their agent from a for sale sign, 9% from a mail out or other advertising, and 6% from a referral or personal source. I can tell you that 50% of my customers last year came from the internet and 50% were either past customers, personal referrals or people I know. By the way as of yesterday there have been 1159 recorded sales in the MLS for August. The median price for those sales was down $7,000 to $200,500.
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