Source: Inman —
Owning a home is the American dream. So why has the mortgage process always been such a nightmare?
For agents, coaching buyers through the mortgage process requires their own special skill set. It can add stress, extra communication, and unexpected delays, all while you’re also ensuring appraisals, inspections, and title are clear to close. Needless to say, the mortgage experience can often feel like a nightmare for the buyer and their agent — and a long one at that.
Meanwhile, modern homebuyers expect a faster, more tech-forward approach. While 97% of Americans own a smartphone and 82% of households are Amazon Prime members, it still takes an average of 51 days to close a mortgage. After finding a home and locking in a rate, buyers spend weeks in limbo, not sure if the loan will fall through at the last second. These kinds of last-minute curveballs are terrible for buyers and agents alike — causing delays, extra costs, and in the worst-case scenarios, losing out on the house.
Sure, location is still important. But, we hear from agents across the country that the new top 3 rules of real estate are: Speed. Speed. Speed.
