Are Virtual Tours Still Popular? The Future of Real Estate
During the COVID-19 pandemic, real estate companies had to adapt to reach home buyers without physical contact. This is where virtual tours came into play. Nowadays, adding virtual tours to listings has become a common practice with the rising demand for this technology, especially during social distancing. However, as we move towards the end of the pandemic, it begs the question: will virtual tours continue to be the industry standard? To provide an overview of current trends surrounding virtual homebuying, let’s take a closer look at how virtual tours are shaping the future of real estate. Read on to find out are virtual tours still popular today?
Are Virtual Tours Here to Stay?
Although the reasons may differ from those during the peak of the pandemic, virtual tours will remain necessary in the future. People are likely to remain cautious about visiting properties and opening their homes to strangers due to health concerns. However, with the ongoing improvement in public health trends and lower case rates, this level of caution is expected to decrease. Thus, virtual tours will play a significant role in showcasing properties and providing a safe alternative for potential buyers and renters.
In truth, what was once a necessity has now proven its value to many buyers. Virtual tours will stick around because buyers have gotten used to having them. The new types of media are helpful to many home buyers who would not otherwise be able to have an in-person tour due to time constraints or physical distance.
Who Benefits From Virtual Tours?
The availability of virtual tours can be highly advantageous for buyers of all kinds. This is particularly true for home buyers who typically only have the opportunity to walk through a property once or twice. However, with the option of online virtual tours, they can relive the experience multiple times before making their final decision. Not only does this give them more opportunities to scrutinize the property in detail, but it also makes it easier for them to get opinions from family and friends.
In addition, virtual tours are especially important for buyers who are relocating from out of state or even overseas. It’s often not feasible to view a property in person when you’re living far away. Detailed online virtual tours can make the buying process smoother and provide peace of mind for those purchasing sight unseen.
Virtual tours have become increasingly popular due to the recent shifts in the real estate market. With it currently being a seller’s market, homes are selling quicker than ever before. As a result, buyers often find themselves in bidding wars and missing out on homes that were just listed. However, using virtual tours allows buyers to instantly view a property and make an offer without having to wait for an appointment or open house. This technology is proving to be a game-changer for those looking to buy in this fast-paced market.
Millennials are also jumping on the virtual home-buying experience. As a generation that has grown up with access to increasingly advanced technology, they are used to being able to make informed purchases online. Within the last several years, the automotive industry has moved online with pictures, reports, and virtual tours to assist decisions. The real estate industry seems a logical next move for millennials who crave the ease of online shopping.
How Can Agents Make the Most of Virtual Tours?
1. Use the Best Tools
A phone camera will probably not take photos or videos at a high enough quality. Instead, choose professional camera equipment with 360-degree capabilities. High-quality video cameras are also a good investment for agents committed to making virtual tours a part of their process.
Not sure you’re able to learn new photography and video skills? Alternatively, hire a professional to help you get and publish the footage you need.
2. Prep the Home
When it’s time to capture the home for its virtual tour, have homeowners put away extra decorations and clutter. You want the house to look its best since this will be a lasting online impression.
Extra furniture and personal clutter will detract buyers from picturing their own belongings in the space. On the other hand, make sure the house is somewhat furnished, which will help buyers get a sense of room proportions.
3. Highlight the Home’s Best Features
Don’t let the camera skim over the accents that are most likely to wow visitors on a tour. Show off the granite countertops, hardwood floors, deep closets, and any other winning features.
Each buyer will have a different set of qualities they’re looking for in a home. Use your expertise to imagine what home buyers would love about that particular property.
4. Be Transparent
Showing the best features should not exclude you from disclosing aspects of the home that buyers should know about. Disclose ceiling heights, building materials, and any other information you would normally share to help buyers make an informed decision before they enter the offer and closing process.
Virtual tours will work best if buyers trust that they are a good substitute for in-person experiences. Practicing transparency will help both agents and buyers make the flexibility and ease of digital experiences a win-win improvement.
5. Create a Good Flow
Buyers will want a virtual experience that’s as close to them physically being there as possible. Start at the home’s entry and establish how the house flows from room to room. Build them a virtual blueprint with your tour so they feel they have a good grasp of the space’s dimensions and layout.
6. Be Available for Personal Tours
Some clients may want another home tour other than the one they can view online. Offer to take them on a trip through the home with you via video chat. They can ask questions and get real-time answers, and they can request to see certain features of the house they were curious about that the virtual tour didn’t show.
Especially for buyers who cannot come to the home personally, a private virtual tour can go a long way towards establishing peace of mind.
Virtual and In-Person Tours Both Have a Place
Despite the growing trend of real estate going digital, there are still instances where in-person sales are necessary. While some buyers may feel at ease with purchasing homes without seeing them first, many others will want to take the time to explore properties personally. This is where virtual tours come into play.
Although virtual tours cannot completely replace physical walkthroughs, they offer a great supplement to the experience. Prospective buyers can view every aspect of the property online, from opening cabinets and drawers to testing water pressure and experiencing how the house smells. However, if time and distance permit, it’s recommended to support buyers through in-person visits as well as encourage them to utilize online tools like virtual tours as a supplemental resource.
