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Homebuyers prefer to house hunt online

January 30, 2015

Modern technology continues to revolutionize how industries and businesses interact with consumers, and the housing market is no different. Mobile devices allow house? hunters to search online and inspect the details of a home without even going to see it. While this saves a great deal of time for those potential buyers who would otherwise be driving from home to home, it also requires sellers to do more on their end, making sure they have an attractive and detailed digital presence for their homes.

Mobile technology is streamlining the housing market.

Purchasing online

Yet, the trend is growing beyond just looking at homes online to actually purchasing homes through Web portals. A recent study by Discover Home Loans noted homebuyers want more of the purchasing process to be streamlined to access with mobile devices. In fact, 36 percent of home purchasers who participated in the study said they would prefer a mortgage process that is entirely online without phone calls or in-person meetings of any kind. Additionally, more than 70 percent of homebuyers shared information with their mortgage lenders through email, apps or websites.

“As technology continues to become an integral part of our lives, it's only natural that buyers also use it to make the home financing process easier,” said TJ Freeborn, senior manager of customer experience at Discover Home Loans. “Not only are homebuyers using the Internet to look at homes and neighborhoods, they're also using it to submit documents and complete applications online.”

Additionally, there is a new Web-based portal called Lenda which allows homeowners to refinance their homes completely online.

New technology

People continue to find new uses for modern technology in all aspects of the housing market because there are many new avenues out there. Homebuyers and owners now have the ability to shop online and compare prices and financial plans, whether they are searching for a new home insurance quote, looking for a new app to help them refinance a home loan or promoting an open house. Mobile technology seems to have unlimited potential to help homeowners meet their exact specifications.