More than 90 percent of people selling their home initiate the selling process by contacting an agent, while more than 70 percent of homebuyers initiate the buying process online, according to a recent survey. 

The 2009 Relocationality Fellowship Survey from Bainbridge Inc. also stated that 80 percent of sellers contact their agents through referrals or repeat business, versus 50 percent for buyers. 

Sellers hold numerous open houses, but experience rapid diminishment of buyer attendance.  Of people with houses on the market, 65 percent think their house is on the market longer than they desire, while 70 percent of agents spend less than half of their marketing budget on their listings.  Sellers and buyers rank virtual tours and single listing Web sites as highly effective marketing tools, yet most agents are not using these to promote their listings.

With the recent settlement between the National Association of Realtors (NAR) and the Department of Justice (DOJ) regarding the deregulation of Virtual Office Websites (VOW) effective July 31, the survey results are particularly relevant at the present time, according to the report compiled by seven graduate summer inters from The College of William and Mary in Williamsburg, Va., hired by Bainbridge to provide online tools for Realtors.