1 in 20 Home Sales are Now Sight Unseen!
Would you buy a house sight unseen? According to a new study done by NAR, 1 in 20 purchases during COVID has been a done by a buyer who did not physically view the home they purchased.
When buyers are looking at homes through the lens of their devices according to the same study the most important digital search preferences are photos, the description, property floor plans, virtual tours, interactive maps, videos, virtual open houses, and virtual listing appointments.
Buyers also looked on average at nine homes over eight weeks. But surprisingly, out of the nine homes they looked at, five were viewed virtually. Yes, today buyers look at a virtual showings as being almost equal to live showings. This shift could fundamentally change how we practice real estate going into the future.
Questions for You:
Can someone virtually tour your listings and would somebody pull the trigger and buy that home based on how good you've done in terms of marketing?
Do you have a virtual home tour? Do you have floorplans? How good is your description? Are you talking about the neighborhood? Are you a visual storyteller?
Are you creating a storyboard about the property and the neighborhoods that someone could invest in? Are your visuals the best in the marketplace?
One danger that all Realtors have right now is assuming that just because you're going to sell the property almost instantaneously is thinking you don't have to invest in the videography, the drone, or the high HD photography. You may think you don't have to do as good a job with the descriptions or collecting a floorplan or showing off all the improvements that a seller has done. Why bother? The property will sell with multiple offers anyway?
Here is why - even though the property sells, if we don't do a great job with marketing what we're missing is a massive opportunity. We should look at every listing we take not as a sale of that listing, but as a job application for the next listing we could take. Every listing is a resume, they are our online portfolios, that you show the neighborhood and your sphere of influence just how good a listing agent you are.
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