Which Tech-Tools Will Satisfy Homebuyers?

Homebuyers are increasingly looking at their real estate agent for expertise and tech-based tools to keep them organized during their home search according to a study by real estate brokerage site Owners.com that was released on Thursday.

For the study, Owners.com surveyed a random sample of the general U.S. population and an oversample of consumers in the Atlanta region with a total of more than 1,000 buyers participating in the survey between January 31 and February 8, 2018. It found that 83 percent of the buyers surveyed worked with an agent to purchase their home and one-third of those buyers said that they wished their agent leveraged technology to streamline the process of home buying.

Most of the buyers were conducting their home search using mobile phone apps but wanted their agent to provide them with tech-based tools to increase their efficiency in the process and keep them organized when they began looking for a home.

In terms of technology, some of the things that agents could do to help buyers save time and increase efficiency included keeping track of all their appointments, viewings, or follow-ups in one place; ability to schedule showings online; and communicate through a mobile app, the study revealed.

The study indicated that homebuyers were also becoming more informed with 62 percent of the buyers stating that they did their own property search online or accessed online data at least once every day for information on their home search or purchase decisions.

“With technology and mobile applications having revolutionized other industries, homebuyers are now seeking brokers that keep them more organized and efficient with cutting-edge technology and tools and make their home search even easier,” said Dario Cardile, VP, Growth Marketing at Owners.com.

In terms of specific data sets, the survey found that 42 percent of the buyers stated community information, including crime rates, demographics, walkability scores and quality of nearby schools as data they accessed while looking for a home

One-third, or 32 percent, of buyers, said they were influenced by home appreciation/depreciation and local market home sale data, while 26 percent cited historical property data including property tax, prior sales, and foreclosure activity in their searches.