Virtual Tours are Changing the Bidding Game

Virtual Tours are Changing the Bidding Game

Could you buy a home you’ve never been inside before? Just up and move without seeing it in person? Believe it or not, that is exactly what some buyers are doing these days. Digital home tours have some buyers making offers on homes before having ever stepped foot in them.
Seeing a Home Without Really Seeing It
In a recent study commissioned by Redfin, it was revealed that 19 percent of homebuyers last year had placed initial bids 0n real estate before ever visiting the property. The real estate company noted an even higher number the year before, with 21 percent of buyers making an offer before actually touring the space. What is potentially even more surprising is that this year’s survey showed that 39 percent of respondents purchased homes valued over $750,000 without seeing the property in person.
So why are buyers bidding on homes they’ve never truly seen? The reasoning behind opting against taking a physical tour before sending an offer differs from buyer to buyer, yet the most popular answer is the simple fact that they feel as though they have seen it. Technology has completely changed the way buyers evaluate homes. Nearly every listing is readily available online these days, typically with high-quality photos that show off the home’s various features. That said, even the most beautiful pictures can’t replicate the experience of actually being inside a home, which is why most people tour a home before making a decision. Due to the latest advances in technology, that tour does not necessarily have to take place in the physical world.
Thanks to 3D photography, buyers can now take digital tours that provide the viewpoint they would have if they were actually walking through the home. In the event that such technology is not available, videos of properties are often utilized to provide a tour of the home. To take this a step further, agents might even provide a tour via FaceTime or Snapchat. The opportunities are endless when it comes to ways to explore a home in the digital realm. Yet the question needs to be posed: how authentic is that experience?
Our Take
At Stein Posner, we are firm believers in moving with the times. Technology allows us to provide our buyers and sellers with some amazing services. However, that does not discount the feelings one has when actually touring a home in person. In cases where doing so is not an option, a virtual tour can be an excellent tool for getting that experience from afar.
If you are interested in making your move to South Florida, or are simply looking for a new South Florida home, our tech-savvy professionals are here to make the process a smooth one. Call our leading real estate agency today to get started.

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