Case Study: Home Ownership Survey with loanDepot

Our market research firm recently worked with loanDepot to conduct a national study with home owners. Several objectives were laid out for the study including stress levels when buying or selling a home, drivers of stress, and emotions or feelings surrounding the home experience. An online survey was administered to a national audience and the overview of the market research study is recapped here.

Drive Research continued it's partnership with loanDepot to produce nationally representative surveys of home owners to drive content, PR, and sales collateral.


Objectives

In October 2017, Drive Research conducted a 12 question online survey with those who own their home. The objectives of the survey were to understand stress levels in the home buying and selling process, drivers of stress, data to support the inability to sell a home, as well as internet usage and demographics. This was part of a new partnership for loanDepot with OfferPad – an online platform serving buyers and sellers of homes.

Respondents were screened to ensure they owned their home. A total of 1001 respondents completed the survey from October 27 to October 31. This represents a margin or error of approximately +/- 3% at the 95% confidence interval which represents very strong data reliability.

Drive Research is an independent market research company in New York State. The survey was branded with its logo and no mention of the sponsor of the research was made at any point during the process (in this case, loanDepot). This ensures results are statistically reliable, unbiased, and factual using the general population of home owners across the country.


Approach

An online survey was used to collect feedback for the client. The survey was administered through a nationally representative sample of respondents in the United States. The survey was drafted in Word before being programmed and tested through the Drive Research online software. The survey was tested before full launch. The only survey took approximately 2 to 3 minutes to complete.


Results

The big takeaway was more than 95% (nearly all) homeowners experienced some level of stress when buying or selling their home. This nugget was featured throughout the loanDepot PR and marketing. Here were some of the other objectives covered in the survey:

  • Word or phrases associated with buying or selling homes
  • Stress level in the process of buying or selling a home
  • Drivers or causes of home buying or selling stress
  • Number of homeowners where a purchase has fallen through because they could not sell
  • Feelings and emotions around not being able to sell home to move to a new home
  • Internet behavior around buying and selling homes
  • Region of residence
  • Age
  • Gender
  • Household income

A full report was provided to loanDepot highlighting all of the findings including cross-tabs on several of these demographic and categorization questions.


Contact Us

Drive Research is a national market research firm located in Syracuse, NY. Our market research firm specializes in both qualitative and quantitative methodologies including focus groups and online surveys. Interested in learning more or receiving a proposal?

Contact us at info@driveresearch.com or call us at 315-303-2040.

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