Mobile Devices and Homebuying

Technology is advancing at speeds that are hard to keep up with. It was only a few years ago that cell phones were used mainly for calling and texting. Now smartphones are carried by nearly everyone and the millennial generation is completing everything online. This is causing companies to rethink how they do business on the internet.

Today many functions that previously required face to face contact can now be done online. This includes completing research, paying bills, making purchases and even watching TV and movies. With the increased comfort level to online service it is impacting the home buying process as well.

Buyers expect to be able to search for home, view photos and videos of the property before ever taking a drive by the potential listing. This is changing the face of real estate. It is increasing important to provide high quality photographs and videos that accurately depict a home. Written descriptions need to include all the information the buyer needs to make a decision. Listings with little information can easily be passed up for lack of data.

Buyers are also looking to the internet for home financing. They can get quotes, search for lenders and even apply online, without ever sitting down with a lender. This creates a challenge for lenders because the home buying process is not as straightforward as buying a pair of shoes.

Yet in the 24/7 world we live in today, buyers often are not taking the time to personally meet with lenders. This means that in order to win buyers business, lenders must focus on providing strong web pages with useful content. It becomes essential to “sell” the home buyer on your services through the website. If the company fails to do that, buyers will seek mortgages elsewhere. Getting buyers to see you as a resource, rather than just a price quote is essential to winning quality clients.

The millennial generation is very comfortable making all decisions based on information found online. In order to attract and compete in this market, a strong internet presence becomes essential. Educating consumers so they see you as an industry authority becomes as important as loan pricing. Buyers need to trust their real estate agent and their lender. Reaching out and building trust through a website is going to become even more critical to winning customers, as physically showing homes and meeting with clients.

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