Meritage Homes Launches New Enhancements to Its Digital Homebuying Experience

Rhea-AI Summary

Meritage Homes Corporation (NYSE:MTH), the sixth-largest homebuilder in the U.S., announced new digital solutions aimed at enhancing the homebuying experience. Customers can now explore home options virtually, qualifying for mortgages and completing transactions online where permitted. The company also introduced guaranteed homeowners' insurance quotes and 24/7 support through a virtual assistant. These innovations reflect the growing trend of virtual homebuying amidst changing consumer preferences, enabling buyers to choose a seamless process tailored to their needs.

Positive

• Enhanced digital solutions: New virtual homebuying options allow for a complete online experience, improving customer convenience.
• 24/7 customer support: The introduction of a virtual assistant enhances service availability.
• On-demand insurance quotes: Customers can receive guaranteed homeowners' insurance quotes, streamlining the process.

Negative

• None.

New solutions enable buyers to find, tour, finance and insure their homes virtually or via a contactless in-person solution

SCOTTSDALE, Ariz., Aug. 24, 2021 (GLOBE NEWSWIRE) -- With a focus on flexibility regarding customers’ changing preferences, Meritage Homes Corporation (NYSE:MTH), the sixth-largest homebuilder in the U.S., today announced new innovative enhancements that allow customers to choose a homebuying path that aligns with their personal shopping style.

Over the last several years, technology has transformed the homebuying process. What was once only accomplished through a live, in-person process, can now be completed virtually, in whole or in part. With 97% of homebuyers starting their search online, Meritage’s website provides extensive resources to homebuyers starting their home purchase journey. Whether they are buying their first home or a homebuying veteran, Meritage’s Buyers Resources provide customers with helpful videos and articles on home ownership and financing as well as highlights of its specific energy-efficient and healthy home offerings. The digital solutions then guide customers through a curated search of available inventory and offer virtual tours of our models. Customers that find their dream home can then qualify for a mortgage, electronically remit their earnest deposit, sign their sales agreement and even close on a home online in states that allow it.

To expand on the suite of offered digital financial services, Meritage customers can now also receive guaranteed on-demand homeowners’ insurance quotes on their selected home. In addition, prospective customers and owners can get around-the-clock information and support through Meritage’s Virtual Assistant Liaison (VAL), or interactive chatbot feature now available on the company’s website.

“Even before the impact of the pandemic, virtual homebuying technologies had grown exponentially in popularity, catapulting the housing industry forward and shaping the future of real estate for homebuilders and customers alike,” said Phillippe Lord, CEO of Meritage Homes. “We embrace innovation to improve and optimize the overall customer experience whether buyers choose to interact with us in-person, online or a mix of both, while ensuring 24/7 customer support.”

Before ever stepping foot in the door, prospective homebuyers can get a sense of how it would feel to live in a Meritage home by viewing photos, floorplans, online video tours, interactive maps and digital community brochures with a few clicks. To accommodate consumers’ lifestyles, Meritage also recently launched self-guided tours in partnership with UTour in select locations. Prospective buyers can easily sign-up for a no-contact tour of a model home on the website, and then tour the home after hours at their convenience.

Lord adds, “Our goal as a builder is to provide the solutions that ensure a seamless process for our buyers from start to finish. New features like self-guided tours and 24-hour virtual website assistance allow our customers to purchase their home on their terms.”

For more information about Meritage Homes’ virtual homebuying solutions please visit: https://www.meritagehomes.com/buyer-resources/homebuying/virtual-homebuying.

About Meritage Homes Corporation
Meritage Homes is the sixth-largest public homebuilder in the United States, based on homes closed in 2020. The Company offers a variety of homes that are designed with a focus on first-time and first move-up buyers in Arizona, California, Colorado, Texas, Florida, Georgia, North Carolina, South Carolina and Tennessee.

Meritage Homes has delivered over 145,000 homes in its 36-year history, and has a reputation for its distinctive style, quality construction, and award-winning customer experience. The Company is the industry leader in energy-efficient homebuilding and an eight-time recipient of the U.S. Environmental Protection Agency's ENERGY STAR^® Partner of the Year for Sustained Excellence Award since 2013 for innovation and industry leadership in energy efficient homebuilding.

For more information, visit www.meritagehomes.com. 

Contact
Emily Tadano, VP Investor Relations
(480) 515-8979
media@meritagehomes.com 

FAQ

What new solutions has Meritage Homes (MTH) introduced for homebuying?

Meritage Homes has introduced digital solutions allowing customers to find, tour, finance, and insure homes virtually or through contactless in-person options.

How does Meritage Homes enhance the customer experience?

The company offers 24/7 support via a virtual assistant and self-guided home tours, allowing for a flexible and convenient homebuying process.

What percentage of homebuyers start their search online according to Meritage Homes?

According to Meritage Homes, 97% of homebuyers begin their search online.

What is the significance of Meritage's technological innovations in homebuying?

Meritage's technology-driven approach aligns with shifting consumer preferences for online shopping, improving the efficiency and accessibility of the homebuying process.