Project Overview
Problem
This initiative aims to enhance underutilized educational tools and create a centralized hub for additional resources such as articles and videos for first-time homebuyers.
Solution
Gaining insight into users' preferences, needs, and expectations will shape a real estate educational platform that genuinely supports first-time homebuyers, providing thorough answers to their questions at every stage of the homebuying process.
Impact
This effort will improve the experience for first-time homebuyers by providing a user-friendly, one-stop resource center. It will offer clear answers to their questions at every stage, reducing confusion and building confidence. By addressing individual needs, the platform will help buyers make informed decisions, leading to a smoother and more satisfying homebuying journey.
DEFINE
Getting to Know First-Time Homebuyers
The purpose of this study is to understand beginner homebuyer's / seller's learning preferences, needs and expectations of an educational platform within the
context of real estate.
This study consisted of 2 types of tests:
Survey (20 users) — gather quantitative data
Moderated interviews (6 users) — gather qualitative insights
Overall goals are to understand:
users current strategy and preparation of the homebuying / selling process
users preferred learning format (content type and real estate topics)
what functionality and features users prefer
users experience and pain points with existing platforms
This research report includes the details of how we conducted our research, the results we found, and actual quotes from participants.
Survey
The survey consisted of 20 participants in the United States, 22-59 years of age, all making between $19K-$149k annually.
Current level of expertise in real estate industry:
(12 users) Beginner— first time homebuyer, never purchased a home
(8 users) Intermediate— singular transaction
Property search websites or apps you've used before:
Zillow (20/20 users)
Compass (5/20 users)
Redfin (13/20 users)
Apartments.com (15/20 users)
Realtor.com (16/20 users)
Currently located:
TN / WI / CA / NJ / GA / WY / MD / FL / SD / VA / CO / PA / DE / NC / MA
Are you currently in the market for a new home or planning to buy or sell one in the near future?
On a scale of 1-5, how would you rate finding information tailored for first time home buyers?
(1 being "I’ve found lots of resources” and 5 being "I have found very little resources”)
What stage of the homebuying journey are you currently in?
Please explain your prior knowledge about navigating the stage(s) selected in the last question. (NOTE: this was a multiple selection question.)
6/20 have started the home buying process by getting pre-approved for a mortgage, working with real estate agents, and visiting houses.
10/20 had limited prior knowledge about home buying process and relied on external sources like Google, friends, or family for information.
6/20 expressed uncertainty and confusion about the home buying process, such as researching, finding real estate agents, understanding mortgage financing, and the role of a real estate agent.
2/20 mentioned the difficulty of starting from scratch in a new country and navigating the home buying process.
What is the overall experience you had if you bought/sold a home OR if you are a first time homebuyer / seller, describe the research you have done so far.
Several contributors are first-time homebuyers and are in the early stages of their research.
Most contributors used websites like Zillow, Redfin, and realtor.com for their research.
A few contributors relied on real estate agents, family, or friends for guidance and information.
Some contributors found the home buying process overwhelming, challenging, or stressful.
Some contributors expressed positive experiences in their home buying or selling journey.
A few contributors faced challenges such as getting approval for homes, dealing with loans, and background checks.
