Homebuyers are highly likely to research their housing and mortgage options online but most still want to use a human advisor to arrange their loan
Homebuyers are highly likely to research their housing and mortgage options online but most still want to use a human advisor to arrange their loan.
Figures from an international study from HSBC show that 83% of those bought a home recently in the US used an online channel for searching for properties, researching prices and the value of their current home.
Almost 80% of American homebuyers researched financing options online with identifying what mortgage they can afford a key question.
The lender forecasts a continued upward trend for funding for disruptive tech firms in the industry. It rose from $221 million in 2012 to more than $2 billion last year.
"From online mortgage specialists to paperless mortgage renewals, technology is rapidly changing how we engage with and serve our customers," said Larry Tomei, Executive Vice President and Head of Retail Banking and Wealth Management, HSBC Bank.
Researching, financing and buying homes are all set for increased disruption, Tomei says, and there are some key trends already developing.
Drones and other tech-based viewings of homes will rise with virtual reality even allowing prospective buyers the ability to ‘live’ in the home for a few days before making their decision.
Dealing with real estate agents online will also becoming more prevalent. HSBC says that 31% of recent homebuyers globally began their conversation with an agent online.
Robo-advisors may see an increase but the lender’s report shows that dealing with a person is still important when arranging a mortgage. Although around three quarters of homebuyers use online channels for research, only 10% would be happy dealing with a robo-advisor for their mortgage compared to around 41% talking to the bank and around 36% to a mortgage broker.
Figures from an international study from HSBC show that 83% of those bought a home recently in the US used an online channel for searching for properties, researching prices and the value of their current home.
Almost 80% of American homebuyers researched financing options online with identifying what mortgage they can afford a key question.
The lender forecasts a continued upward trend for funding for disruptive tech firms in the industry. It rose from $221 million in 2012 to more than $2 billion last year.
"From online mortgage specialists to paperless mortgage renewals, technology is rapidly changing how we engage with and serve our customers," said Larry Tomei, Executive Vice President and Head of Retail Banking and Wealth Management, HSBC Bank.
Researching, financing and buying homes are all set for increased disruption, Tomei says, and there are some key trends already developing.
Drones and other tech-based viewings of homes will rise with virtual reality even allowing prospective buyers the ability to ‘live’ in the home for a few days before making their decision.
Dealing with real estate agents online will also becoming more prevalent. HSBC says that 31% of recent homebuyers globally began their conversation with an agent online.
Robo-advisors may see an increase but the lender’s report shows that dealing with a person is still important when arranging a mortgage. Although around three quarters of homebuyers use online channels for research, only 10% would be happy dealing with a robo-advisor for their mortgage compared to around 41% talking to the bank and around 36% to a mortgage broker.
