From PSFK's Digitizing The Homebuying, Browsing & Mortgaging Experience report, here's how today's leading brands in real estate are leveraging virtual tools to make homebuying more efficient

As millennials become the primary demographic to become homebuyers, it’s expected that they bring their virtual inclinations and affixation for lean, digital upstarts, as opposed to larger legacy institutions, to their real-estate needs. Accordingly, innovative developers are streamlining the end-to-end homebuying process by using AI technologies, or simply an expert intermediary on behalf of the purchaser, to ensure buyers are able to complete a property transaction.

The following three examples showcase how today's leading companies in real-estate are using digital tools and technology to improve efficiency of the home-buying journey:

Opendoor, Offerpad, Redfin Now OR Zillow’s Instant Offers
After sellers fill out an online questionnaire, an ‘iBuyer’ uses proprietary modeling to assess the home’s value. These companies then make an all-cash offer within several days, as opposed to a months-long wait via traditional methods.

BofA Digital Mortgage Experience
Bank of America launched the Digital Mortgage Experience that allows consumers to conduct a pre qualification to estimate their borrowing requirements. They can then see suitable homes and home values in the platform’s Real Estate Center. If they decide to pursue a mortgage, clients can apply for one with an application that is partially auto-populated using previously inputted information.

Ally Financial x Better.com
The bank holding company Ally Financial partnered with home financing platform Better.com for a direct-to-consumer digital mortgage platform, called Ally Home. The platform provides customers with a mortgage pre-approval and rate within 3-10 minutes.

44% of buyers start their home search online. For an in-depth exploration into the new virtual tools and pathways consumers are adopting along the road to homeownership, download PSFK's Digitizing The Homebuying, Browsing & Mortgaging Experience report, out now.

As millennials become the primary demographic to become homebuyers, it’s expected that they bring their virtual inclinations and affixation for lean, digital upstarts, as opposed to larger legacy institutions, to their real-estate needs. Accordingly, innovative developers are streamlining the end-to-end homebuying process by using AI technologies, or simply an expert intermediary on behalf of the purchaser, to ensure buyers are able to complete a property transaction.

The following three examples showcase how today's leading companies in real-estate are using digital tools and technology to improve efficiency of the home-buying journey: