The thought of a virtual open house for an investment property might seem strange or daunting to some. Why would a potential buyer watch a virtual open house when they can just visit the house in person? In fact, many modern buyers prefer watching a virtual open house through Facebook or YouTube. It allows them to view the property without ever leaving the house–and if it’s a live video, they can ask the realtor questions along the way. And for realtors, they have the advantage of showing a property to dozens or even hundreds of clients at once without dealing with a large crowd.
Which is Better: A Live Feed or a Recorded Video?
Outfront points out that there are two types of virtual open houses: the live feed where viewers can watch the open house as it’s happening, and the recorded video where the realtor uploads a pre-taped video. Both options have their own set of advantages. With a live feed, potential buyers can ask the realtor questions as they walk through the house. A live video also creates a sense of excitement about the property. When people watch a live video, they feel like they’re actually tuning into an event, like a concert or a sports program.
A pre-taped video loses the excitement factor, but it gives the seller the chance to put together a professionally edited video that makes the property look as appealing as possible. It’s also a good option for sellers who aren’t comfortable talking to people in front of a live camera feed.
How Does a Seller Generate Leads Through Virtual Tours?
With traditional in-home tours, it’s easy to collect contact information and follow up with potential buyers. A virtual open house has no sign-up sheet, so it can be difficult for sellers to get potential leads. Reminder Media recommends ending the tour with a call to action, asking potential clients to submit their contact information. A seller could also set up an online form on their website, making it easy for buyers to get in touch with them. Once they get that information, the seller can send an email with all the details about the property and answer any questions they received.
Traditional real estate has been turned upside down by the introduction of virtual technology that assists home and commercial buyers and sellers.
Real estate, once considered a transaction resulting from a personal relationship between agent and seller, was already changing before the COVID-19 pandemic, but it is evolving now more than ever.
The benefits of virtual reality (VR) in real estate include the following:
(1) Distance is irrelevant.
Are you thinking of becoming a snowbird and looking for a home in Florida while living in Pennsylvania? Instead of booking multiple trips, you can narrow down the neighborhoods and homes you are interested in online from the comfort of your home.
(2) Properties under development come to life.
Design of commercial properties has always been guided by architectural drawings and two-dimensional mock-ups. Now, VR allows three dimensional views and makes it easier for buyers to request and implement timely changes because they are able to see the building in a more realistic view.
(3) VR is cost effective.
Yes, the technology costs money, but it quickly pays for itself. Consider the popular app called RoOomy. It allows for virtual staging.
According to Thinkmobiles.com, since 1985, real estate agents have been actively staging homes. Staged houses sell in 80% less time and often for higher prices.
RoOomy opens the staging process to the homeowner and allows the person to visualize how the house could be furnished to best meet his or her needs and preferences.
Because it is technology-based, the components can be reused. Gone are the days of the realtor dragging pictures, plants, and decor from a sold home to the next house for sale.
V-commerce goes one step further and allows the homeowner to purchase the actual piece that he or she has virtually staged in the home.
With so many benefits, it is hard to believe there are people who are not sold on the VR real estate experience.
Sam DiBianchi, founder of DiBianchi Real Estate in Fort Lauderdale, Florida tells Fortunebuilders.com,“Real estate is personal. Technology cannot get personal with a potential buyer or seller–it’s impossible.”
DiBianchi adds that VR is an excellent tool, but he believes it should be used as a tool and not be the all-encompassing real estate experience.