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When looking online for a home loan borrowers go through three phases before they make up their minds, according to moneyQuest joint MD Julian Mattatia.
"Online analytics have enabled our business to understand the research cycle of new home loan customers," Mattatia told the MortgageMix.
Analysing 12 months of data analysis reveals consumers spend between six and eight weeks doing online research, he said.
"In the early stages we found borrowers visit our sites several times before completing an online form," he added.
"They start with general one or two word keywords then add more words to their query. Toward the end of the research cycle borrowers feel more confident and knowledgeable and are ready to act," Mattatia said.
Online shift will dent broker opportunities: moneyQuest - With the online shift in consumer buying behaviour many brokers are missing opportunities to write more business, according to moneyQuest joint CEO Gill McLean.
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