Lenders, originators and agents, let us celebrate the rise of the educated homebuyer by Jennifer Beeston for HousingWire

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When industry experts think about what could lead to a significant departure of loan officers and real estate agents, two main things come to mind:  AI and market conditions. Although AI and market conditions will have some level of impact, a much bigger game-changer is coming to the industry. It is the rise of the educated homebuyer, which is now in its infancy but will become the new norm within the next ten years.  

For far too long, there has been a lack of education on the homebuying process in America.  They do not teach you in high school or college to buy a house, so you have people making the biggest purchase of their life trusting the real estate agent and lender they met 6 seconds ago.  Unless they are lucky enough to have family members who understand real estate, homebuyers are left to fend for themselves with little to no understanding of the home buying process.  For far too long, unscrupulous actors in the industry have exploited this education gap. 

Here is the good news. The education gap is closing.  Just as the internet has brought the world to our fingertips, it has also brought prospective homebuyers libraries of videos and hours of podcasts that explain the home process in detail and what to watch out for.  Whether they are listening to the Bigger Pockets Real estate podcast, watching one of my videos on YouTube, or seeing what Javier Vindana is saying, the options for homebuyers to learn the ins and outs upfront are endless and growing every day. 

I am always delighted when I see a colleague post a video educating homebuyers or sharing the truth. More and more loan officers and real estate agents have realized they can positively impact their community by educating instead of selling.  The more people in the industry who put out helpful content to bridge the education gap, the better the entire housing industry will be.  

We should all celebrate and encourage the rise of the educated homebuyer. The educated homebuyer will push out the unscrupulous actors in our industry because they will know their tricks and choose not to work with them. The days of bait-and-switch lenders and the just-sign-here real estate agent are numbered. This is a good thing.  

If you are a mortgage lender or real estate agent, ask yourself how you can help. How can you help educate the next generation of homebuyers? How can you protect home buyers and homeowners from unscrupulous actors?  How can you be part of this movement that will transform the housing industry? The opportunities are endless, whether it is social media or teaching a local seminar.  

Jennifer Beeston has been a top 1% loan originator for over 7 years and is currently ranked as the #1 VA Loan Officer in America. This column does not necessarily reflect the opinion of HousingWire’s editorial department and its owners.

To contact the editor responsible for this piece: zeb@hwmedia.com.

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