14 Nov How the Internet Provides Better Real Estate, Mortgage, and Home Buyer Assistance
The ability to find information online anywhere, anytime serves as an increasingly useful gateway to information for prospective home buyers. Though one might assume home buyers using digital mediums during the process of purchasing a home would prefer to do things on their own, data suggests otherwise. Home buyers are actually more likely to real estate agents and licensed mortgage advisors to reach out for assistance. They are more likely to do research on types of low down payment or FHA mortgage loans and see what may be best suited for them, contacting local mortgage professionals once their decision has been made. In general, home buyers doing their own research online are more serious, comprehensive, and likely to buy a home than the people who do not do research at all. Popular search keywords include ‘real estate loan’, ‘Atlanta home mortgage’, and ‘mortgage loan’.
On average, first time home buyers take three months to shift from considering buying a home to signing a contract to purchase the home. Repeat buyers usually complete the process two weeks faster. During the first few weeks of the home search, first time home buyers learn about the home loan origination process, details about neighborhoods, and search out potential homes. During this time, they are often advised to obtain mortgage pre-approvals through a licensed mortgage advisor.
Many real estate professionals create and post localized videos including virtual open houses, community and neighborhood explorations, and information on government and FHA mortgage loan options. Because videos convey information, images, and complex instructions in a friendly, engaging medium, they are increasingly favored over yard signs, community posters, mailed flyers, print advertisements, and magazine ads by home buyers.
First time home buyers now conveniently find assistance throughout the home buying process from their mobile devices and laptops. The usage of home mortgage calculators, home mortgage loan comparisons, and home grant programs have all increased and as a result home buyers are more likely to view photos, explore local neighborhoods, and research mortgage loan products.