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Buying Real Estate During a Pandemic

How technology and emerging real estate tools are driving change during COVID-19

 

We live in exciting times as it pertains to digital technology and real estate. Particularly, with the influx of emerging technologies in the real estate industry, we are experiencing unprecedented changes in every aspect of the field. Emerging technologies and shifting homebuyer demographics, over the last couple of years, have stirred up listings on the MLS and real estate in general. While some real estate professionals have been reluctant to these changes, a majority of real estate professionals have embraced these technological changes, because they understand how emerging technologies can increase their bottom line. Notably, emerging trends and technologies are not without controversy. Some real estate agents have become extremely frustrated with emerging technologies because technology has inevitably empowered For Sale By Owner sellers to attempt to sell their homes without the use of an agent.

COVID-19 has forced the entire real estate market to re-think how they approach showing homes. Talk to any real estate agent and they will tell you that their job is all about relationships, and providing a personal touch.

So how do you provide a service to your clients when you can’t leave your own home?

Realtors are embracing many of the following tools to ensure their clients can feel and see the properties as if they were there, in person.

  • Video walkthrough

The use of a video tour conducted by a real estate agent is an excellent way for potential buyers to experience a space without physically visiting the property. Drone photography and pictures may be used to make models by getting close up shots while walking in the home for sale and still flying just about the road the whole way up to the front door or garage. These types of captures will help to make full property tours. It will also help the customer visualize precisely what it’s like to stay in the house or community. In brief, an energizing and productive video walkthrough will arouse prospective buyers’ curiosity and make them compelled to connect with you or your organization.

Tour homes virtually

  • Virtual Tours

The primary goals behind the virtual property tour are to raise interest in the property and provide prospective buyers with the idea of the space in and around the property. Previously, realtors primarily relied upon in-person tours and open houses to arrange for potential buyers to view a property. However, with growing technology and creativity, realtors now have access to buyers around the world by offering comprehensive and exciting virtual tours.

Hence, the clients receive the full feeling of the home and its surrounding environment. Generally, the virtual tour is conducted in the mode of interactive floor programs. More intelligent alternatives, e.g., full-service virtual tours, the interactive floor program presents pictures of the floors with the help of the floor plan and arrows to indicate where each photo was taken.

  • Architectural 3D Animation Videos.

In 2020, 3D animations have entirely taken over the real estate industry. 3D animations commonly referred to as “flythroughs” or “walk-throughs” allow prospective buyers to walk a viewer through a building before it is developed. The animation features bring the building and video to life. Virtual property tours look better in motion. While static architectural designs can create beautiful, realistic looking photos, nothing compares to the seductiveness of a 3D animation video. 3D animation videos can create breathtaking walk-throughs, videos, and tours from a spectacular point of view.

Architectural 3D animation videos have been nothing short of revolutionary for presenting, introducing, and selling undeveloped properties. In the past, Architects and real estate professionals participated in presentations by featuring massive drawings, sketches, and mini-physical models. Even with all of this, it was still challenging to get prospective buyers to imagine the finished product (i.e., the developed building). However, today with architectural 3D animation, video project presentations have greatly improved, and professionals do not have to use aggressive selling tactics because, with fantastic animation videos, projects practically sell themselves. 3D animation videos visually tell a story to potential buyers, which ultimately converts into sales.

  • Social media – The primary tool for real estate agents

Everybody is on social media; even our grandparents have begun to create Facebook pages. So it only makes sense that over 50% of all home buyers start their search online. The best real estate agents pretend to be socially offline. But in reality, these same real estate professionals utilize the internet and digital marketing strategies to generate more customers and clients. The concept of geotagging, and engaging with potential leads online, has made social media and digital marketing a must in 2020.

Additionally, more and more agents are using the “live” features available on Instagram and Facebook, to take their followers on impromptu virtual tours of new properties, all from their smartphones (for free). This same “live” feature is used to engage with followers and keep them updated on a new listing. Additionally, some agents use the live features to take their followers on a “behind the scene” look at renovation work to property or take their followers insides real estate events, all with the aspirations of generating leads.

Overall, a robust online presence, particularly a strong social media presence, gives agents more opportunity to get properties in front of friends, family, and followers. Overall, internet-based life progressed nicely; it builds trust and expands your sphere of influence to individuals whom you may not have met in person before.

  • Featuring live real estate podcast

The most successful real estate agents know how to tell stories and share their experiences in a way that attracts buyers. An intelligent mix of informative and entertaining stories has a way of attracting potential leads. Real estate agents who sponsor or are guests on live podcasts have found some success with attracting new clients and talking about new properties and developments. Educating prospective clients on a podcast is yet another innovative way that agents are using technology to not only educate their clients but also help buyers find professionals to connect with, that work in their local community.

With this being said, it’s no secret that technology has changed the way that buyers find and tour homes. Arguably, these emerging technologies benefit buyers tremendously, making it much more comfortable and less time consuming to find properties and connect with a professional agent. Whether you like it or not, technology will continue to transform the real estate industry in the upcoming years.

Realty.com A leading nationwide real estate portal has introduced a new feature that allows Home Buyers the power to request a virtual tour from one of their exclusive agents. 

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