RISMedia's Real Estate Magazine

SEP 2017

Real Estate magazine is the industry's leading source for real estate news and information since 1980. Published monthly by RISMedia, Real Estate magazine offers timely and relevant real estate news to the industry's top brokers and agents.

Issue link: http://remag.rismedia.com/i/864801

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Page 27 of 118

RISMedia's REAL ESTATE September 2017 23 The affinity consumers have toward technology impacts how they want to engage with companies, and will ultimately determine where and with whom they do business. Mortgage lenders and indepen- dent agents with tech services that cater to millennials will clearly have the competitive advantage in hous- ing. At which point do you, as a real estate agent, reevaluate how you're engaging with your clients? What benefits can you offer to streamline the home-buying process? What's more, the rate of homeown- ership among Hispanics increased to 46 percent in 2016, and Latinos outmeasure all other demographics in their use of mobile technology to access the internet. With the likeli- hood of Hispanic homeownership continuing to rise, now's the time for real estate agents to utilize the technologies their clients are already using. When Quicken Loans introduced Rocket Mortgage to the country dur- ing the Super Bowl in early 2016, we anticipated millennials would flock to the service, and we were right initially. However, as the FinTech service continues to increase adop- tion, nearly 50 percent of Rocket Mortgage users are not millennials, proving that all age groups are look- ing for the simplest way to get home financing. After nearly 30 years in the mort- gage and housing industry, I can say that we're in a precarious position where those who embrace technol- ogy will thrive, and those who shun it will struggle. Rocket Mortgage is the first and only end-to-end completely online mortgage process. It enables users to customize their loan and lock their own interest rate in as few as 10 minutes. Rocket Mortgage is so easy to use that a homebuyer could get approved for a mortgage in the midst of an open house. Adding to the industry-leading technology of Rocket Mortgage is MyQL Agent Insight, which allows real estate agents to stay up-to-date on their clients' mortgages and how far along they are in the process. If a prospective homebuyer uses Rocket Mortgage for fast, accurate approvals and a streamlined mort- gage process—and their real estate agent uses MyQL Agent Insight to keep track of the mortgage—it not only allows agents to save time and money, but also gives them the op- portunity to focus on other aspects of their job, such as marketing and attracting new business. The Hispanic market is no longer a small segment of the housing indus- try. It's fully recognized for the sig- nificant value it adds to the growth of homeownership in the U.S. The American Dream is more alive than ever, and this industry is bringing communities from diverse back- grounds together. Technology has connected us to more opportunities to improve our business strategy, and though it's a rapidly changing medium, it's proving to be an impor- tant tool to connect with the future homebuyers of America. RE Shawn Krause is the executive vice president at Quicken Loans. With nearly 30 years of experience in the mortgage and housing industry, she leads the company's government advocacy program in Washing- ton, D.C. For more information, contact the Quicken Loans Agent Relations team at (866) 718- 9842, or email AgentRelations@ QuickenLoans.com. Utilizing Technology to Enhance Your Business Commentary by Shawn Krause I t's no secret that technology is transforming the way everyone works. Real estate and finance are no exception to this. In fact, Hispanic millennials are more likely to use mobile devices for complex financial transactions, such as purchasing mutual funds or online trading, according to the most recent National Association of Hispanic Real Estate Professionals (NAHREP) State of Hispanic Homeownership Report.

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