Please enjoy this selection of our 360 Virtual Tours
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Buyers Want a True-to-Life Virtual Experience. The first impression of a home often comes from its online listing, and this initial online curb appeal can mean the difference between capturing or losing a prospective buyer’s attention. While home listings almost always include photos, *78% of buyers worry they are Photoshopped or misrepresent the space.
*Sixty-nine percent of home sellers who did not think that 3D tours were a necessity before the COVID-19 pandemic, now feel that they are. The sentiment was especially pronounced for people living in the suburbs and small towns – *76% of people living in non-urban communities now say that 3D tours are a necessity, whereas only 45% felt that way pre-pandemic.
Nearly *8 in 10 Home Buyers are Taking More 3D Home Tours During the Pandemic, Citing Safety Concerns
*69% of Sellers Say 3D Home Tours Are Now a Necessity
For residential real estate, touring homes virtually has become increasingly important since the coronavirus outbreak. Over the last seven months, home sellers, buyers and real estate professionals have had to work around restrictions preventing in-person property showings and grapple with safety concerns over potential exposure to COVID-19.
*78% of home buyers say they are choosing to view more properties virtually with 3D tours because of safety concerns. Home sellers shared these concerns, although to a somewhat lesser extent. Older homeowners were most likely to have safety concerns, with *59% of Baby Boomers reporting that reducing the number of people visiting their homes was an advantage to having a 3D tour, compared to *40% of Gen X and *38% of Millennial home sellers.
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Sellers Express More Confidence in Offers With a 3D tour, *83% of sellers now think their home may be more likely to be purchased sight-unseen, which is an 11% increase in the share of sellers who said this in January.
Among sellers who would not have accepted an offer pre-pandemic based on a buyer’s 3D tour alone, *64% would now do so. Similar to home buyers, *87% of home sellers felt that when it comes to accuracy, 3D virtual tours better represent their home than photos alone.
What Are the Advantages? We asked sellers to rank the top benefits of 3D tours. Sellers identified attracting more serious buyers (*67%) and selling their home faster (67%) as the top two advantages, followed by decreasing the number of in-person visitors (41%), and closing at a higher price (39%).
When we asked buyers to rank the top benefits of 3D tours, they identified the ability to view the home’s floor plan (*75%), visualize the entire home layout in Dollhouse view (*61%), and measure rooms, walls, doors, windows, etc. (*60%) as the most important features.
When we analysed the responses to this question by generation, *73% of Baby Boomers said they would use 3D tours to narrow down which homes fit their needs, compared to *53% of Gen X and *54% of Millennials. 3D Tours Give Listings an Advantage, Now More than Ever
*Statistics and comments are taken from Matterport who are the software provider for our virtual tours. For more information please click here.