Becoming a homeowner is both exciting and stressful. While having our own place to call home is a dream for most, there are so many factors that go into this process—from finding listings and applying for a mortgage to submitting an offer and closing the deal.
Come 2023, homebuyers will no longer be alone in this bittersweet journey. There are numerous ways that real estate technology will help homebuyers make easier and smarter decisions.
Let’s take a look at the six biggest benefits of using technology-driven tools throughout the home purchasing process.
Learn the Basics of Homebuying and the Local Real Estate Market
Homebuyers do not need extensive knowledge and expertise on the real estate industry. However, having a basic understanding of how real estate works and what the local market looks like can be especially valuable. For instance, it’s important to know the general steps of the homebuying process as well as the prevailing property types and median home values in your specific area.
In the last decade, technology-enabled platforms have become the best sources of information and education—not only for real estate agents and investors, but for homebuyers as well. As long as you choose reliable platforms that provide qualified advice, there is a lot to learn from real estate blogs, video channels, and podcasts.
AI-driven real estate technology can even supply you with insights that are customized to your specific needs, rather than offering general first-time homebuyers tips that might not apply to you. Landslo, for example, can send you local market insights and targeted guidance at your request—without pushing you to move forward before you are ready.
Find the Best Lending Options
The second way that real estate technology can support homebuyers is by giving them access to enhanced financing options. Setting up a budget, searching for conventional mortgage providers and alternative lenders, and getting pre-approved for a loan are all essential steps of the homebuying process for securing optimal results.
Recent years have seen a boom in digital platforms that can help you with each of these steps—all from the comfort of your own home or office. You can use tools like Nerdwallet and Credit Karma to check your credit score and receive advice on how to improve it. Other online platforms allow you to research different loan types and the terms that different lenders provide. Moreover, most banks now allow you to get pre-qualified and sometimes even pre-approved for a mortgage online as long as you submit all required documents.
Search for Listings on Digital Real Estate Marketplaces
Experienced homebuyers know that finding properties for sale can be time-consuming. Flipping through newspapers, talking to your network, and driving around looking for “For Sale” signs can take months before you locate a home that you like.
Alternatively, in 2023, real estate marketplaces like Zillow and Redfin will continue to optimize the home searching process. Simply set up a few filters to generate listings that match your expectations.
Receive Custom Listings
Although digital marketplaces have significantly facilitated the process of looking for properties for sale, there is an even more efficient way that homebuyers can use real estate technology to get the best listings available on the market.
Landslo can continuously send you listings that match your exact preferences and expectations in a way that’s convenient for you. Unlike an agent going after their commission, our AI assistant will never bug you at a time that’s not convenient for you. You can choose when to chat with Landslo or opt for receiving text messages that notify you of up-to-date listings in your area. All you have to do is to sign up! The best part? All Landslo services for homebuyers are completely free of charge.
Visit Properties for Sale Online
Virtual reality was one of the fastest-growing real estate technology trends before the pandemic, but Covid-19 further accelerated its adoption in the homebuying process. It is no secret that listings with 3D tours get more views and sell faster than traditional ones. The reason for this is that virtual tours offer important benefits to homebuyers.
Attending a virtual open house or taking a virtual walkthrough helps you get a first-hand impression of the property and a general idea of whether it suits your needs and preferences. Furthermore, virtual staging tools allow agents to customize listings based on your individual requirements. This gives you a clear picture of whether you and your family will fit within a house.
Virtual reality enables homebuyers to conduct initial screenings, eliminating the need to visit each listing in person. This is particularly valuable for homebuyers who are relocating and cannot afford to take a trip every time they see a potentially suitable listing.
Get Matched with the Best Agent
Last but not least, real estate technology can help connect you with the most appropriate agent in your local market. As a homebuyer, you truly have nothing to lose from working with an agent. You actually have a lot to gain, as agents have years of experience in finding and closing deals in the market.
In the past, homebuyers had to rely on friends’ recommendations or real estate websites to find good agents and they could still end up not being the right fit for their needs. In 2023, Landslo's AI-powered algorithms can match you with the right agent for your particular situation at your request. Unlike many of our competitors, our digital real estate assistant will not pressure you to connect with an agent before you are prepared.
Real Estate Technology - Homebuyers’ Best Asset in 2023
The real estate market relies heavily on human emotion. Homebuyers have to truly click with their agent and fall in love with their future home. However, this doesn’t mean that real estate technology can’t assist with the homebuying journey. On the contrary, leveraging these innovative tools will automate processes and leave you with more time and energy to focus on tasks that require your personal engagement.