Despite all the technology, artificial intelligence, and the feeling that we know everything, managing a financial process as significant as a mortgage highlights the need for a professional mortgage bank and bankers who truly understand their clients’ needs. In many ways it reflects the difference between knowledge that can be easily found on an internet search, and wisdom, which is in far shorter supply.
To choose the right mortgage path toward owning a property, a person must go through several crucial stages. It’s not advisable to navigate these alone but rather with a banker, or indeed adviser, who understands who they are sitting across from – what their needs are, and just as importantly, what their goals are. A banker ensures that the buyer begins the process with a full understanding of both the real estate and financial landscape in Israel. Buying a home is one of life’s biggest purchases – and that process requires honest conversations with a banker. The human element simply can’t, and shouldn’t, be removed. A skilled professional is essential, someone who can bridge cultural and language gaps and help design the most suitable mortgage plan for each client. This is all the more important when buying as a foreign resident, as there are some fundamental terms and processes, which may differ to what you may be used to in your country of origin, regarding property finance. We have been through some of these in previous articles.
In an age where artificial intelligence may seem to be ready to replace many jobs, the truth remains: for deeply personal and sensitive matters, people still need other people to guide them through their challenges. The value a banker adds lies in their ability to understand the person in front of them, to hold meaningful, personal conversations that explore the full range of the client's needs. Financial products can be tailored for different individuals in many ways. In many ways, the added value of a bank is its people and their ability to empathize with clients. This is especially true when the product and technology between banks can be very similar. A professional banker who understands your culture and decision-making mindset, is true added value.
Who knows where AI and modern technology will one day take us. No one knows what the future holds. But for now, human professionals are still very much needed, especially when it comes to maintaining personal contact, addressing clients’ worries and uncertainties, and understanding their journey toward buying the home they love.
Written in collaboration with Bank Mizrahi-Tefahot. The above is for informational purposes only and does not constitute a loan offer.