COVID-19: A NEW THREAT. 3D VIRTUAL TOURS: A NEW CONCEPT
WHEN WE SAY ‘VIRTUAL’ WHAT DO WE MEAN?
WHY SHOULD ESTATE AGENTS USE 3D VIRTUAL TOURS AS THE NORM, AND NOT JUST FOR A PANDEMIC?
Here are our top 10 reasons!
1) Win more listings
Winning listings is crucial for estate agents. When trying to win a listing, showing a 3D virtual tour of another property is a powerful tool to help get the deal in the bag. 74% of estate agents that use 3D virtual tours win more listings.
2) Increasing transparency for the agent
We’ve all been there… We find a property online, arrange a viewing, arrive at the location, only to go in and find we are disappointed with ‘oh, it’s smaller than I thought’, or ‘it doesn’t flow like I thought it would’. With a 3D virtual tour it is very much the case of ‘what you see is what you get’.
There is no stretching the images, no hiding damp patches, and no avoiding holes in plaster etc. Some may see this as a negative but for us, honesty is the best policy.
A 3D Virtual tour is about the viewer seeing what they want to see, and not about a photographer showing what they want to viewer to see (or not see).
3) Properties can be viewed 24/7 from any location (even during a pandemic)
A property listing with a 360 virtual tour means that viewings have already begun. With 24 hour accessibility potential viewers can explore the property whenever and however many times they want. This also increases accessibility for potential buyers who live hours away from the location; they can have their first, second and third viewings online. Then if they are interested they can make the journey knowing that they already love the house.
Depending on the technology used, the number of visits to the tour can be tracked; including the number of unique visitors to the tour (not just one super-fan viewing it thirty times!).
4) Better quality leads and viewings
3D Virtual tours generate up to 45% more leads for a property in comparison to those without one. And, because the potential buyer has already seen the house’s size, flow, and character, the estate agent can be sure they are interested… because if they weren’t, they wouldn’t be calling! A recent survey in the US found that 90% of buyers reported they would be more interested in viewing a property physically following a virtual viewing.
5) They are great for customer engagement
Depending on the technology used to create the 3D virtual tour, they can be incredibly interactive. From our experience and having an active eye on the market for the best technology available, we use Matterport Cameras. These enable us to embed text, images, videos, and links to property brochures, directly into the tour. These keep the viewer engaged!
They say a buyer decides in the first eight seconds of seeing a home if they’re interested in buying it … so make the first impression as powerful as you can!
6) Cut out the nosy viewers who have no intention of buying
According to a Poll of 2,234 UK residents, 64% of us check property listings at least once a month, but only 13% of us are looking to move.
Why? Because we’re a nosy bunch! Even more surprising is that 6% of Britons have booked to view a property with no intention of buying. A 3D virtual tour can satisfy the demands of the nosy from the comfort of their own homes, while saving estate agents time!
7) Time Saved
By improving the quality of leads and cutting out those with no intention of buying, a virtual tour saves estate agents time.
Additionally, those who have had a physical viewing and love it can continue to view virtually, again saving time… especially when they want to show their relatives …“Why, yes … that’d be fantastic if your parents, grandmother, and second cousin came along while I showed you house today.”
8) Sell properties quicker
3D Virtual tours have been proven to sell properties quicker. Properties listed with a virtual tour on average spend 31% less time on the market.
9) Achieve a higher selling price
3D Virtual tours have been proven to achieve higher asking prices of between 4-9%.
10) It’s what the people want
“To be successful in real estate, you must always and consistently put your clients’ best interests first” (Anthony Hitt).
A recent US survey (including 1000 property sellers and 1000 buyers) concluded that 80% of all respondents said they would switch to an estate agent offering immersive 3D tours. Millennials (83%) and Generation Z (94%) were overwhelmingly in favour of virtual tours for properties. Even more convincing was that 99% of sellers felt that a virtual tour would give their listing the edge over competing properties.
SO… ‘WHAT WILL FOLLOW COVID-19?’
Estate agents are currently relying on creative means to reduce the economic impact of Covid-19 on the property market. They are breaking free from the traditional practices and marketing strategies. They are beginning to see the potential benefits of using virtual platforms.
But when the lockdown ends, when social distancing reduces, and when we try to pick up and rebuild, what will happen with the property market? Will it revert to doing what it has always done because ‘that’s the way we do things here’ or will it continue to engage with the new virtual age?
The benefits are clear. The technology is available. The future is here… Embrace it.