Nearly all first-time buyers say technology will play a role in researching (98%), getting a mortgage (94%), and negotiating and buying a home (92%), according to the 2018 Bank of America Homebuyer Insight Report. The report also shows:
- 52% of respondents would or have already applied for a mortgage via a mobile device or online
- Of those who would not apply for a mortgage digitally, 62% would rather work with a person, and 41% have privacy concerns
- First-time buyers in Austin and Dallas-Fort Worth are more likely (60% and 51%, respectively) to share their home purchase on social media than nationally (43%)
Texas homebuyers say these are “very useful” features on websites where they search for properties (respondents could select more than one choice):
- Property photos 88%
- Detailed property info 82%
- Floor plans 55%
- Virtual tours 49%
- Neighborhood info 46%
51% of Texas REALTORS® who specialize in property management manage at least 100 properties.
23% of Texas REALTORS® own at least one commercial investment property.
Sources: 2017 Profile of Texas Homebuyers and Sellers; 2017 Profile of Texas REALTORS®