House buyers are looking for independent research, but still want a broker
In a recent study more than 1,000 recent home buyers and potential home buyers, Cotality showed that 73% of the buyers conduct their own research during the home tubing process. 88%, however, said that they want a person as part of their home show experience, where 45% say they expect their agent to give guidance from start to finish. Although 27% of the respondents said they expected that the role of technology in their transaction would be favorable, most respondents still relied on their agent to bridge the gap between steps in the housing process.
Tech is good, but relationships are better
“Digital tools have streamlined the exploration of home options and help navigating through the complexity of the store and buying experience,” said Amy Gromowksi, the head of Data Science at Cotality, in a statement. “But while you are seriously starting to consider one of the greatest financial – and emotional – transactions of your life, you need a trusted partner who will help you navigate the complexity. You are looking for someone who helps you understand, and that is not a machine – not yet.”
As more home buyers do their own online research during the buying process, Cotality is of the opinion that, in order to be successful, agents have to shift from a source of mentions to an interpreter of mentions. According to Cotality, the agents who succeed will connect their dots for customers in the future by doing things such as early risks and simplifying the complexity and logistical challenges of the buying process.
Real understanding remains elusive for buyers
“Interfaces promise ease. Algorithms expect preferences before they are made explicit. But transparency and real understanding remain elusive. Lists do not explain that flood cards are about to update in the area. Recommendation engines do not necessarily explain why a pre-goods inspection has often been gone to be a sewnish account of a seam-free of a seam-free of a seam-free of a seam-free of a seam-free of a seam-free of a seam-free of a seam-free of a seam-free of a seam-free of a seam-on-the sewnage of a seam-on legislation. shortage.”
With only 8% of the recent respondents of the buyer who reported that they had self -confident about their transaction, even after finding the right house, and 93% of the buyers reported that they had to deal with at least one moment of doubt, confusion or pressure, it is clear that despite all available technological tools, buyers still need the guidance and reassurance of human real estate. This is also reflected in almost 75% of the recent buyers who report that their agent has given them useful guidance during their journey to the Homebuying.
The expectations are that buying a house will be stressful
Moreover, only 7% of the buyers found the process simple, while almost half (46%) said they expected the process to be stressful. The report also discovered that when it came to many expectations, what buyers expected to enter a transaction would be much different than what actually came out. At the start of their home bending process, 33% of the recent buyers said they expected to make decisions to find a house; 70%, however, reported to give something on their wish list to successfully find and buy a house. Other major discrepancies surrounded to have to make multiple offers, only 34% expected them to enter and 63% reported after the classing.
The value of an agent is clear
“The value of an agent today lies in their ability to serve as a really informed adviser – someone who can distill complex ownership data into usable insights tailored to the unique goals of each customer. Agents offer the context that is needed to navigate what can often be contradictory or overwhelming information, SEED in a declaration in a declaration in a declaration in a declaration in a declaration in a declaration in a declaration in a declaration in a declaration in a declaration of greene in a declaration of greene in a declaration in a declaration in a declaration of greene, in a declaration of grene, in a declaration of greene.
Looking ahead, while some agents can be intimidated by the wave of technically skilled, digital first gene Z-house buyers who enter the market, they must take comfort in the knowledge that despite all online information and services available, 59% of the buyers of Gen Z reported that the process of finding a house feels overwhelming.
In total, 90% of the future buyers say that part of the home heading process is overwhelming, with more than half (54%) who identifies finding a house as the most discouraging prospect.
Personalized information cannot be found via a public portal
“Customers do not need another person to put together more mentions. What they want – and need – is more context about every mention: why this house? Why now? What do I not understand in terms of potential benefits or disadvantages,” said Greene. “An agent who can explain why ‘this house fits best with your budget, your timeline and your risk profile’ will be indispensable – even if the buyer has already found it online. They cannot get that personalized information on a public portal.”
When it comes to finding the right agent, choose survey respondents overwhelming comfort as their number one priority in 80% of the respondents, compared to 47% for convenience and 42% that choose loyalty. Moreover, 75% of the recent buyers said that they would probably work with the same agent again because of the trust they developed.
“The challenge with Thuisbuying is that it is not something that most people do very often,” said John Rogers, Chief Data and Analytics Officer of Cotality, in a statement. “So by wrapping technology with human guidance, we can compensate for the lack of familiarity with trust because these professionals are Familiar with the data and systems, so that they can identify potential pitfalls or possibilities to help buyers make the right decisions. “
