Emerging technology is always going to be attractive to younger buyers. And given the power millennials now wield in the housing market, it should come as no surprise that real estate professionals are investing in the latest high-tech tools. With this in mind, it’s time for agents to start thinking about whether using advanced video options in their sales efforts will help them find a foothold with younger shoppers, especially with the new buying season now underway.
Recent data suggests that as many as 2 in 5 buyers today will use at least some kind of video tour to make a decision about a home purchase, and homes with video as part of their listings tend to be far more popular than those that leave video out, according to Real Estate Tech News. Consequently, it’s time for agents to decide whether their clientele would prefer this kind of technology be included, or whether they want to take an additional step to really stand out from the crowd.
Going with VR
While it’s unlikely that clients are going to want to skip real-world open houses altogether – at least not any time soon – using virtual reality video that guides would-be buyers through a property before they ever visit it in person can be a good way for agents to help people get a real feel for a property. And surprisingly, the equipment and software needed to properly engineer those virtual tours isn’t that expensive, especially when considering the potential return on investment.
Here, too, recent polls suggest that virtual tours tend to be a little more popular with would-be buyers than standard video, at least when it’s presented as an option. Moreover, there’s an added benefit in that agents can record multiple homes they’ve listed and potential buyers can take multiple virtual tours in just one office visit. That, in turn, helps them get a feel for which listed properties they might like to visit for a real-world tour, saving time for all involved.
To the earlier point about equipment investments, all agents will likely have to do is buy a camera capable of recording in 360 degrees, which typically cost a few hundred dollars, and have a smartphone and headset handy, according to The Los Angeles Times. And despite that small investment, this kind of capability can really stand out for buyers who may be wowed by an option relatively few agents make available at this time.
“It is so helpful to buyers,” San Diego-based real estate agent Jason Cassity told the newspaper. “You could have someone sitting in Boise walk through your house, and it just does so much more than the photos can. It gives them a sense of how the layout feels.”
In general, using the latest technology can be a definitive way to stand out from crowd during the busy buying season. Embracing the latest technology as it emerges is often a good way to meet that goal.
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