Revolutionizing real estate: Mortgage transformation, new business models and home ownership ecosystems

Digital Reinvention
Q+
15/11/2023Study

In the not-so-distant past, the quest for your dream home involved leafing through newspapers, attending open houses, and relying on word-of-mouth recommendations. The journey was time-consuming, and there was often room for disappointment. But the real estate industry has undergone a revolution, powered by technology, making the search for that perfect home more efficient and dynamic than ever.

In a global market where the total value of real estate soared to $3.69 trillion in 2021, the industry has truly reinvented itself. In the age of smartphones and instant information, a staggering 97% of homebuyers turn to the internet during their home search. Furthermore, it's no longer just about static property listings; it's about immersive experiences and data-driven insights.

Yet, this digital shift comes with its set of challenges, from information overload to the threat of digital fraud and misleading listings, making it essential for buyers to exercise caution. The digital landscape has also intensified competition, often leading to bidding wars, creating a sense of urgency among prospective buyers.

Home financing and management have likewise undergone radical transformation, with a raft of innovative solutions simplifying life for homeowners. Online mortgage and home insurance processes have become more customer-centric with the integration of virtual assistants, streamlined document verification, and automated underwriting. Rent-to-own models are gaining popularity, providing flexibility for those who may not be ready for immediate ownership. Furthermore, homeowner ecosystems are addressing multifaceted needs, including financial challenges, energy efficiency, and environmental responsibility, ensuring that homes are not just spaces but holistic, sustainable living environments.

This all points to a real estate industry that has truly embraced the digital age, offering more satisfying and cost-efficient experiences for all involved, while simultaneously adapting to the demands and challenges of the modern market landscape.

Want to keep reading?

You are trying to access premium content, currently reserved for Qorus members only. See all the benefits of joining the world’s leading peer-to-peer intelligence organization in financial services.

Digital Reinvention community

With Qorus memberships, you gain access to exclusive innovation best practices and tailored matchmaking opportunities with executives who share your challenges.

Related news & insights

Innovation Awards Hub
04/08/2025Interview

From challenges to 85% faster responses: The story behind Santalucía Seguros’ AI win

Spanish insurer Santalucía Seguros won bronze in the Operational Efficiency category of the Qorus-NTT DATA Innovation in Insurance Awards 2025...

Innovation Awards Hub
28/07/2025Interview

ERGO wins gold for ERGO GPT: A workforce transformation success story

At the Qorus-NTT DATA Innovation in Insurance Awards 2025, German insurer ERGO won gold in the Workforce Transformation category for...

Insurance
24/07/2025Article

Embracing AI disruption in the insurance industry: Insights from Qorus Reinvent Forum Warsaw

This event provided a platform for thought leaders to share their insights on how AI is reshaping our workforce, technology,...

Digital Reinvention
23/07/2025Article

Financial Innovation Spotlight – July 2025

Each month, Patrice Bernard unpacks and analyzes the latest emerging trends shaping the financial services landscape, offering his unfiltered commentary...

22/07/2025Interview

At work with Edward Rebane

Edward Rebane is Chief Retail Officer and Member of the Management Board at Citadele Bank. He’s always on the move,...

Innovation Awards Hub
21/07/2025Interview

Transforming retention with GenAI: Sabadell Seguros’ award-winning approach

Esther Pichardo, Chief Customer Officer at Sabadell Seguros, tells us more about VoiceIQ and the impact of their win.

Mobility
17/07/2025Article

Capital One’s big bet on the future of mobility

Mobility isn’t just about getting from point A to point B—it’s a gateway to opportunity. In the US, where access...

Insurance
15/07/2025Interview

At work with Ahmet Yaşar

Ahmet Yaşar, Insurance Group Head at Maher Holdings and Vice President of Insurance Association of Türkiye, talks to Qorus’ Boris...