According to a new survey conducted on nearly 2800 adults, home buyers are spending no more time researching mortgages than they did in before they did in 2008. The survey was carried out by Harris Interactive on behalf of Zillow and indicates that home buyers are spending an average of five hours researching mortgages and actually soliciting fewer quotes than they did in 2008; three instead of the earlier average of four.

A home is one of the largest investments most people will make in their lives and yet some people spend as little as two hours researching mortgages before buying. According to research this is about the same amount of time spent researching a new computer, or planning vacation.  Buying a car actually gets an average of ten hours of research, twice that of a mortgage.

It just doesn’t appear to be the type of thing that most people like thinking about, so they ignore the importance of the purchase.

But the study also reveals that 65% of people who have bought homes in the last 5 years will do things differently when they buy a house next time.

There is a lot of opportunity for the mortgage broker who is able to educate his clients on the best mortgage option. When using a lead management system, it’s easy to nurture leads with drip marketing emails that contain useful information in manageable pieces. And helping borrowers understand their mortgages and helping them to get the best deal increases the broker’s likelihood of getting referral business.

Tags: Lead Management