68% say they relied on their agent for guidance throughout the homebuying process.
54% say they were advised by their mortgage professional.
53% say they were advised by their parents.
62% financed their mortgages with small banks or independent lenders (25% view large banks as having the highest fees and closing costs).
63% said they would only consider fixer uppers that require minor to moderate upgrades.
49% believe they need to have at least 10% for a down payment
85% plan to use personal saving for a down payment while 44% plan to use a financial gift from parents.
66% used a fixed rate mortgage to finance their first home.
90% prefer to work with agents who have a strong digital presence
a. Online scheduling
b. E-signature (80%)
c. Text messaging
84% would like virtually guided tours of homes by their agents.
83% want to access a mortgage application online.
63% expect their agent to have a presence on social media.
82% say they are most likely to see home information if it is on their social media feed.
76% are interested in having home listing ads targeted toward them on social media.
87% of buyers rate their agent’s online reviews as the most important factor in their realtor decision.
Top two sites for first time homebuyers searching for homes online: