SAN FRANCISCO--(BUSINESS WIRE)--Real estate referral leader ReferralExchange announces today that it now powers agent-matching functionality for DownPaymentResource.com, the leader in providing homebuyers with information on down payment assistance programs. The partnership has already resulted in over 600 referrals being made, and the first successful transactions are complete.
Saving for a down payment can be one of the most challenging parts of planning to buy a home. According to the 2016 National Association of Realtors® Profile of Home Buyers and Sellers, home buyers reported the most difficult task in the home buying process was saving for a down payment. Down Payment Resource has discovered that 87% of U.S. homes are eligible for one or more homeownership programs and makes it easy for buyers and owners to access this information through one location. A study by Down Payment Resource released in July 2016, showed that buyers who use down payment assistance programs are saving an average of $17,766 over the life of the loan.
Today’s homebuyers are also doing more research online. That includes searching for information on homeownership programs. As traffic to DownPaymentResource.com grew organically, the company noticed more homebuyers were asking to get connected to an agent.
“In our survey of 750 future homebuyers, we found that more than anything else, homebuyers wanted information about down payment and closing cost help,” said Rob Chrane, CEO of Down Payment Resource. “As a former Realtor myself, I wanted to make sure buyers seeking information had the best possible home buying experience and that the agents we referred them to were well-vetted. We needed a partner who we trusted to oversee the process from beginning to end. We found that in ReferralExchange.”
When homebuyers on the site ask to be matched to an agent, DownPaymentResource.com provides them with a selection of agents, matched to their needs and qualifications, using ReferralExchange’s advanced data science and predictive analytics.
“We are passionate about making the home buying experience easier for people,” added Scott Olsen, ReferralExchange CEO. “People who want to buy a home and have difficulty pulling together a down payment are often unaware of programs that can help. DownPaymentResource.com closes that gap, making it possible for buyers to achieve their dream of home ownership. By partnering with the DownPaymentResource.com team, we are able to connect buyers with a trusted agent who can expertly guide them through the process of purchasing real estate.”
To learn more, please visit DownPaymentResource.com.
About Down Payment Resource
Down Payment Resource (DPR) creates opportunity for homebuyers, REALTORS® and lenders by uncovering programs that get people into homes. The company tracks more than 2,400 homebuyer programs through its housing finance agency partners. DPR has been recognized by Inman News as “Most Innovative New Technology” and the HousingWire Tech100™. DPR is licensed to Multiple Listing Services, Realtor Associations, lenders and housing counselors across the country. For more information, please visit DownPaymentResource.com and on Twitter at @DwnPmtResource.
ReferralExchange, the nation’s top real estate referral company, is dedicated to creating great real estate experiences between real estate professionals and customers. Founded in 2005, ReferralExchange has built an invite-only network of over 20,000 top-performing Realtors. In 2016, the network created over 120,000 agent-to-consumer matches.