Majority of Buyers Want and Use Digital Tools to Aid Home Search
While the majority of buyers are hesitant to purchase a home entirely online, all homebuyers want to use digital tools during their home search. The generational breakdown shows Millennials and Gen Z are significantly more comfortable with the idea of purchasing a home entirely online compared to older generations, while all use digital tools in some way. A recent survey by Zillow found 23% of respondents would be comfortable buying a home online. For Gen Z, that share increases to 36% and 39% for Millennials. Nineteen percent of Gen X respondents would feel comfortable purchasing online, when only 7% of Baby Boomers and Silent Generation would. Despite the small shares, a large majority of buyers would still utilize digital tools when home shopping.
But despite apprehension toward buying a home online, large majorities said they would like to use a host of digital tools while home shopping and touring. These tools include: Viewing a digital floor plan (79% of respondents said its a tool they’d like to use); viewing a 3D virtual tour (79%); receiving email notifications from a saved search on a real estate website or app (75%); watching a video tour with an agent (68%); and unlocking a home with their phone and touring it on their own time (68%).