Real Estate on Computer

Rise In Virtual House Tours During Coronavirus Outbreak

Lockdown and fears over Coronavirus have put a stop to many house sales and open house viewings, but there are many things homeowners can do to generate interest during the pandemic, including offering virtual house tours.

The spread of Coronavirus has undoubtedly led to many people staying in their homes and away from public spaces, and the real estate market is clearly feeling the impact. Reports in the U.K. by the Telegraph revealed that house viewings had gone down by 75% since the Coronavirus outbreak began. For those who were looking for buy-to-let properties, the uncertainty of the months ahead means that future income from tenants has been put into jeopardy. Others who were perhaps about to proceed with a sale may have suddenly found their financial situation has been turned on its head with the loss of work, and so may no longer feel it is affordable to proceed through to completion. Others are simply not in a rush so are prepared to ride the storm and wait until the market improves.

On the other hand, there are likely to be those with significant savings or access to cash who are primed and ready to snap up properties which may end up selling for a much lower price given the steep drop in demand caused by the Coronavirus pandemic. If you are looking to try and sell your property during the outbreak, it could well be worth considering offering virtual tours of your property.

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Static images can only tell part of the story and many people prefer to get a real feel for the property by visiting it in person. Unfortunately because Coronavirus is so infectious, it is simply not possible to facilitate face to face viewings, even if the current property is empty. This is because it would be necessary to disinfect the entire property after each viewing and also ensure that you remained 2 metres away from visitors at all times, which can sometimes be difficult when you are going through narrow hallways or up the stairs etc. Virtual tours are now easily achievable thanks to modern technology and can be conducted with ease using your smartphone device.

One of the simplest options is panoramic pictures, which help you to show the full length, shape of features of a particular room. This can be great if you have rooms that have distinct features or perhaps are knocked through into another room. A panoramic picture can help potential buyers to see how each room fits in which the other and the general structure of the property.

In addition, you can easily record videos where you walk around the house as if you were conducting a face to face tour. You could also provide an explanation over the top so that prospective buyers can find out a little bit more about the property. If there is the option to leave comments on your house listing, you can invite interested parties to publicly post their questions so that the responses can also be left for others to see afterwards.

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If you fancy adding a bit of mystery and excitement to the process, you could host a virtual open house on YouTube as a live stream event. Interested parties could all visit your channel at the same time and all take part in a live tour of the property. The benefit of a live stream is that people can leave comments in real time, so that you can answer these questions as you are going round the property and it is more likely that interested parties will gain the exact information they need to make a decision to purchase.

If you are not keen on trying to sell the property yourself, there are many forward thinking and creative realtors out there who are also adopting this kind of approach to selling during the outbreak. If you can find one which is open to selling properties via virtual tours, you could simply provide them the images and video footage and let them do the rest! Why not take a look at other houses which are being marketed this way and who is behind the activity. It is likely that there will be special rates and fees available at this time, given that the property market has experienced a decline and so realtors will be keen to engage in work wherever they can.

It is worth remembering that the property market will recover after the Coronavirus pandemic has passed. Property has long been a sound and stable investment and although many fear a recession is looming, over the long term prices will stabilize and the market will bounce back. For those who don’t have the benefitting of waiting for the crisis to blow over, the ideas suggested above could help to make your property stand out at a time when there is a captive audience who may just be looking for their ideal home.