You know that old saying— home is where the heart is? With so many of us spending so much more time in our houses and with our families, this has never been more true.
This renewed focus on our living space has prompted more and more people to rethink their surroundings. The rise of telecommuting and virtual school has opened up new choices and made alternative locales more enticing.
What does that mean for you as a real estate investor?
It means that, despite the global pandemic, interest in home buying is still on the rise. In fact, the National Association of Realtors reported that existing homes sales rose a record 20.7% in June to 4.72 million. But how do you market your listing in a socially distant world? In an industry that once relied on client relationships through in-person showings, we are now seeing a rise in virtual house showings.
You may be wondering —how exactly does a virtual showing work? Turns out there are lots of options.
Video Walk-throughs
A video-walk through allows for a guided tour of the property, narrated by the listing agent. Although this may be the least virtual of virtual tour possibilities, it does allow for specific features of the house to be highlighted through the agent’s dialogue. Agents can also host live virtual house tours on their devices with the use of video conferencing apps such as Facetime or Zoom, where buyers can ask questions as they go.
Virtual 3D Tours
There are also self-guided virtual 3D tours which essentially stitch together a series of still photos into a video experience. They are designed to put the online customer in full control. Visitors are able to choose which part of the house they want to look at and from what angle – similar to Google Maps. These 3D virtual tours allow users to look at pictures and envision what it would be like to live there as they move through the property. Check out platforms available for the creation of online house tours including Zillow 3D Home and Homelister.
360-Degree Tour
The most advanced of virtual showings are interactive 360-degree virtual tours which provide the viewer with a fully immersive experience. It is similar to wearing a virtual reality headset and creates a more life-like feel than 3D tours. To create a 360-degree tour, set up a professional 360 camera in the center of a room to take high-resolution pictures of the area. Then add texts, links, and other interactive media to the images accessible to viewers. Need help getting it all set up? Partner with a specialized company like Matterport or Cupix that offers cameras, apps, and proprietary software to create the perfect 360 degree tour for your property. It’s a great way to get more eyes on your listing. In fact, Redfin reported a 303% interest in engagement with virtual walkthroughs since partnering with Matterport.
Embracing new technologies makes adapting to pandemic living easier. Whether you need advice in selling your finished flip or are in need of short-term financing for your next project, Navigator Private Capital is in your corner. Reach out to us by phone at 443.603.0193 or email at info@gonavcap.com to hammer out the specifics of your deal.
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