You Can Employ a More Digital Approach to Home Buying
Statistical data shows that consumers have taken a new approach to their purchases: one that entails careful research, checking reviews, and brand-name comparisons. And they aren’t even stepping into physical offices, businesses, or firms.
This is certainly true of prospective homebuyers. Consumers are taking a more digital approach to shopping, made possible by today’s search engines, mobile apps, tablets, and other digital devices. These tools provide real estate investors both convenience and mobility.
Statistical findings in the home buying experience
Jim Lecinski, Google’s self-proclaimed “Zero Moment of Truth” (ZMOT) evangelist and author of The Zero Moment of Truth Handbook, reviews the findings of a study conducted by Shopper Sciences, an agency that collects useful data on the “shopping path” of consumers.
In the study, the shopping paths of 3,000 consumers were observed. Each path was unique until the person turned to the Internet. But all shoppers, at some point, turned to the Internet for information.
The 2013 Profile of Home Buyers and Sellers further supports the study findings. It offered corresponding information on the home-buying process:
• For 42 percent of home buyers, the first step in the process was looking online for properties, and 14percent of home buyers looked online for information about the home buying process first.
• The use of the Internet in home searches rose slightly to 92 percent.
• Real estate agents were viewed as a useful information source by 87 percent of buyers who used an agent while searching for a home.
• The typical home buyer searched for 12 weeks and viewed 10 homes.
• For more than half of buyers, finding the right home was the most difficult step in the process.
• Approximately nine in ten recent buyers were at least somewhat satisfied with the home-buying process.
Real estate companies are listening
With access to this information, real estate companies feel pressure to provide consumers with the best online property search tools and overall purchasing experience that’s technologically possible. Real estate companies and associations such as Realtor.com and McMillan Realty.com are continuously incorpirating new capabilities into their websites to provide consumers with more insight.
What’s your home’s value?
Are you interested in a home’s current value? Whether it’s the home you currently live in or property you’re interested in purchasing, online helpers such as MSN’s home valuation tool allow you to enter a home’s address or multiple listing service number (MLS) and retrieve instant, up-to-date information about its worth.
This capability not only adds convenience but enables prospective investors to make well-informed and smarter financial decisions.
Greater mobility in real estate purchases
If highly capable real estate websites weren’t enough to make your home buying experience more pleasant, mobile apps have broadened the shopping spectrum even further by allowing you to retrieve information on the go.
This innovation makes finding the best location a cinch. With simple commands and entries, consumers can research demographical data such as:
• Distance from the city center
• Area schools
• Nearby parks and recreational facilities
• Shopping centers and more
Be confident in your real-estate company
The real estate business is evolving with technology. For this reason, you can feel confident as a home buyer, knowing that real estate agencies are doing their homework not only to locate luxurious amenities but other important data as well.