Another thing to celebrate is the improving economy. But, with continued low mortgage rates, great mortgage products, and increasing home values and equity, why aren’t more people selling and buying homes?
According to some experts, it’s because people are not relocating for job opportunities.
With all the obvious benefits of technology, one drawback is that it allows people to get a new job without having to relocate. They can stay put and work from home, no need to pack up and move cross-country for the new gig.
This negatively impacts some housing markets. Coupled with prior refi’s, rising home prices, and a lack of available affordable homes on the market, home sales are stagnant. That ain’t good for mortgage financing.
So, although technology is a boon to most industries, it is also creating some problems for Realtors.
Be smart, find ways to use technology to help you reduce your lending costs, streamline your lending process, and help make your staff more productive.
It’s definitely worth the move.