November 24, 2014

Most Recent Homebuyers Claim Technology Made Them Better Buyers

Most Recent Homebuyers Claim Technology Made Them Better Buyers

Based on a recent independent poll commissioned by Discover Home Loans, majority of the buyers claim that technology made them better at looking and buying a home.

The poll showed that 89 percent of homebuyers utilize a kind of online technology to help them in purchasing a home, 76 percent believe that technology made them better and smarter homebuyers, while 69 percent said it made them more confident.

Aside from this, almost half of the buyers or 47 percent claim that technology helped them save money in home buying, 92 percent claim technology helped them save time, while 90 percent claim that they had an overall positive experience because of technology.

Real estate listing tops the list for the top three online resources these homebuyers at 89 percent. This is followed by using online maps to explore neighborhoods at 72 percent and using email, applications or website to submit documents to lenders at 71 percent. Furthermore, out of all respondents who use online listings, 78 percent claim they spent some time at work looking for properties while 93 percent say technology has allowed them to do things remotely.

“Buyers are clearly looking to play a larger role in the home buying process and turning to the latest technologies to find the information they need,” Senior Manager of customer experience at Discover Home Loans TJ Freeborn said. “Technology is a great resource for buyers because it gives them access to online property listings, allows them to preview homes and find reviews on real estate agents and mortgage lenders. It’s truly changing the home buying process, and the result is a more confident, informed buyer.”

Eight three percent of the respondents also claimed working with real estate agents to buy their homes. Seventy-four percent said that it’s vital for their agents to be tech savvy as 82 percent of them said their agent was tech savvy. Out of all the respondents who worked with agents, 42 percent claim that they did most of the tasks to start finding their property. As for communicating with their agents, 98 percent utilized the phone calls.

The survey, participated by 1,003 recent homebuyers, was conducted from September 5 to 17, 2014 by the Versta Research, an independent survey research firm.

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