Four Trends In The Real Estate And Lending Industries

Glenn is president of Ally Home with more than 35 years of experience in consumer lending, mortgage and capital markets.

Covid-19 unleashed unprecedented changes across the business landscape, and the real estate and mortgage industries were no exception. The pandemic accelerated the shift to modernize both the home shopping and home mortgage experience. This prompted lenders and realtors alike to reimagine legacy processes from the ground up and provide consumers with a more digital-focused experience.

While the real estate market adjusts to accommodate the current environment, industry leaders must also look to prepare for new and recurring trends while implementing new best practices. There are four trends in particular that affect the here and now – and will likely continue to have implications in the long-term.

 1. Digital Acceleration 

Homebuyers have quickly grown accustomed to the conveniences of a digital-first world – from home grocery delivery to online car shopping to virtual home tours and nearly contactless home purchases. While the pandemic and subsequent social distancing requirements have informed customer needs in the short-term, consumers’ preference for digital interactions is unlikely to fade. The social distancing era has reshaped how consumers want to experience the home buying and mortgage

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