The home buying process has changed significantly in the past five years, driven by rapid advancements in digital technology. As home buyers increasingly rely on the internet to help them make major purchasing decisions, the real estate industry has embraced innovation to offer a more streamlined, convenient, and personalized experience for potential buyers. In this article, we explore how technology has reshaped the way people shop for homes, providing new tools and resources that make the process easier than ever before.
If you’re in the market for a new home and are searching for a loan that fits your circumstances, Newrez offers plenty of online and mobile tools to help you find what you need (for instance, check out our Mortgage Calculators). If you’d like to talk with a person who can help, real mortgage experts are here to answer your questions.
The Shift to Online Real Estate Marketplaces
The days of driving through neighborhoods and relying solely on real estate agents to find available homes are long gone. Over the past five years, online real estate marketplaces have become the go-to source for prospective homebuyers. Websites such as Zillow®, Realtor.com®, and Redfin® provide comprehensive property listings with high-quality photos, detailed descriptions, and virtual tours. These platforms have made it possible for buyers to explore a wide range of options from the comfort of their own homes.
High-Resolution Photos and Virtual Tours: The quality of digital listings has improved dramatically in recent years. Homebuyers can now access high-resolution images that offer a clear view of the property’s layout, features, and even the surrounding area. Virtual tours have become a game-changer, allowing users to walk through a home as if they were there in person. This capability is especially valuable for buyers looking to purchase properties in other states or even countries.
Virtual Reality and Augmented Reality Enhance the Home Search
Virtual reality (VR) and augmented reality (AR) have evolved rapidly over the past five years and are now widely used by real estate agents and developers to offer immersive experiences to prospective buyers.
VR Home Tours: VR enables buyers to step inside a property and explore every corner without leaving their home. This technology replicates the physical experience of walking through a house, giving buyers a realistic sense of space and scale. Some real estate platforms and agencies have even developed VR apps that allow users to explore properties using VR headsets, further enhancing the shopping experience.
AR for Interior Design: Augmented reality has become an indispensable tool for visualizing potential home renovations and interior design ideas. Buyers can use AR apps to project furniture, decor, and even structural changes onto the space they are considering, helping them make more informed decisions. This capability has significantly reduced the uncertainty that often accompanies purchasing a new home, particularly when it comes to envisioning how the space will look with personal touches.
Mobile Apps Dominate the Home Buying Experience
Mobile devices have become the primary research tool for many homebuyers, and real estate apps have evolved to meet this demand. Over the past five years, mobile apps have become more sophisticated, offering buyers a fully integrated experience that includes everything from searching for homes to managing their mortgage applications.
GPS Mobile Search Tools: Real estate apps are now optimized for mobile devices, offering a seamless experience whether buyers are on the go or at home. GPS-based search tools allow users to explore properties in their immediate vicinity, and push notifications alert them when new listings become available or when prices drop. This real-time access to information helps buyers stay ahead in competitive markets where properties sell quickly.
In-App Mortgage Tools: The integration of mortgage calculators, pre-approval** tools, and loan comparison features within real estate apps has simplified the number crunching aspect of home buying. Buyers can now calculate mortgage payments, compare loan options, and even apply for pre-approval directly from their phones, making the process more efficient and transparent.
Social Media’s Growing Role in Real Estate
Social media platforms have become a powerful tool for homebuyers and real estate professionals alike. Over the past five years, platforms such as Facebook®, Instagram®, and YouTube® have played an increasingly prominent role in how homes are marketed and discovered.
Real Estate Influencers: Influencers within the real estate niche use social media to showcase homes, offer tips for buyers, and provide insights into market trends. These influencers create engaging content that resonates with younger buyers, helping them navigate the home-buying process in a more relatable way.
The Bottom Line
Digital tools have rapidly evolved, bringing the real estate industry with it. Now, shoppers can view homes and make payments from the comfort of their couch.
If you’re in need of a mortgage loan where you can pay online and check your outstanding balance via a mobile app, Newrez offers the tools you need for a simple mortgage experience.
Zillow® is a registered trademark of MFTB Holdco, Inc.
Realtor.com® is a registered trademark of the National Association of Realtors.
Redfin® is a registered trademark of Redfin Corporation.
Facebook® is a registered trademark of Meta Platforms, Inc.
Instagram® is a registered trademark of Instagram, LLC.
YouTube® is a registered trademark of Google LLC.
Any above-mentioned companies are not affiliated with Newrez LLC.
