The real estate market – buy and sell remotely
The real estate market today is quite saturated and forecasts indicate that this trend will remain unchanged. In the current world situation, when circumstances remain so fluid, the real estate industry has become more resilient and innovative. Pandemic Covid-19 accelerated the onset of change and provoked market fluctuations, as restrictions and the new economic reality introduced a number of changes to the real estate market. Is it possible to buy and sell real estate without seeing it firsthand?
A virtual tour promotes the sale of real estate
It would seem strange if people acquired property in their own property without examining it in life. However, we would recommend taking into account the current situation, since the real estate industry will change not only for a certain period of time, but forever, widely using technological solutions and other innovative tools. Today it is already possible to draw conclusions about a person based on his shopping habits, including when choosing real estate. Some observations of the situation in the real estate market are suggested below:
- Digital transformation is taking place in the processes of buying, selling and renting.
- Focus on electronic transactions, leaving mountains of paper in the past.
- Remote notarial approvals are becoming commonplace.
- Online real estate auctions that allow you to participate remotely.
- 3D virtual tours are a convenient solution to distance themselves in the event of the consequences of the virus, however, looking into the near future, this solution is likely to become part of the standard service offered to buyers and sellers also after the pandemic.
Our “tips and tricks”
And yet, how to sell in accordance with the current situation and where to start in this era of technological progress?
- Make telecommuting a daily routine. Adapt enterprise strategy and technology solutions to enable telecommuting.
- Invest in virtual solutions. This is a mutually beneficial step. Potential buyers prefer to take a closer look at the property before deciding on a personal visit, in turn, the seller does not need to plan too much time to display the property, which will not lead to a sale. Thus, you can save financial and time resources of both the client and the seller. According to a study by Matterport, 80% of respondents say they will switch agents in favor of those who offer 3D virtual tours before inspecting property in reality.
- Optimize your working hours. Taking into account the limitations regarding the need for spacing, it is possible to increase your accessibility precisely with the help of technological solutions. Give real estate agents the opportunity to use virtual tours to serve clients conveniently and efficiently and to arrange personal visits only when the buyer is genuinely interested in buying.
How to sell with a virtual tour?
You just need to send the client a link with the note “This is a real estate object, you can inspect it just like in life, you can go wherever you want, just touch and you will find yourself in the desired room.”
Real estate professionals keep abreast of new developments by transporting or teleporting clients to the walls of the house and providing them with a reliable, transparent view of how real estate looks in real life. For example, on smart 2D photographs, rooms may look larger than they actually are, 3D virtual tours are designed to show people the property as it really is – the size of the premises, from any angle and the interior. The experience a 360-degree virtual tour provides is not meant to make your home a better place. Its task is to provide the best and most accurate representation of the premises, as if the buyer sees everything with his own eyes. This gives the client a sense of comfort by providing ample information, including accurate measurements and a floor plan of the property.
The main thing that I would like to emphasize is that the saved time and financial resources will make it possible to focus attention and redirect development to other important processes. It is not expensive to become modern! A virtual tour costs about the same as a professional photo session. If you want to see examples of our clients who successfully work in the real estate market using virtual tours, go to our section – Projects. Also, if you have any questions, take a look at our section FAQ and, perhaps, this is where you will find the answer.