Trends in the use of the internet for marketing residential real estate in New Zealand

Abstract

Sales and purchases of residential real estate are the most significant financial transactions that the majority of the population are involved with. As such they are concerned that these transactions are carried out efficiently and to their best advantage. One of the most significant changes affecting modern society over the last ten years has been the growth in consumer use of the Internet. This research examines the intersection of these two important issues – i.e. the use of the Internet for marketing residential real estate. Over the last twelve years Lincoln University has biennially surveyed residential real estate buyers and sellers in Christchurch, New Zealand. Findings from this research include the rapid growth of Internet use in recent years at the expense of newspaper advertising. However, the radical change in real estate brokerage services predicted by earlier researchers has not occurred – at least not yet. But major changes in Internet access and use are still underway and their effects on real estate brokerage may not be fully played out for some time to come.