There’s no denying that the ongoing pandemic has changed the way homes are bought and sold. One of the biggest adjustments has had to do with the showing process. Fortunately, most agents, buyers, and sellers have adapted well—and it’s all thanks to virtual technology.
In this post, we’ll look at the pros and cons of virtual showings for both buyers and sellers…
How it works
Virtual showings involve the use of specialized software and cameras to build immersive remote tours. They may be in real-time or pre-recorded—and of varying quality, depending on the technology used. For maximum impact, they can also be paired with virtual staging (whereby stylish furnishings and decor are added digitally to showcase a home’s potential).
Matterport is a prime tool for virtual showings. This innovative platform allows sellers to create and customize digital, 3D representations of their homes. The result is a stunning panoramic walkthrough—one that makes buyers feel almost as though they’re viewing the property in person.
The pros & cons for sellers
For sellers, there are some major benefits associated with virtual showings. One of the biggest is reach. With the right technology, your agent can market your home to many (potentially hundreds of) buyers at once. Often, that means increased interest in your property—and more offers.
Virtual showings can also be incredibly convenient. They allow you to cut down on the number of tours you hold, so your home doesn’t always have to be in show-ready shape. With virtual showings, you can also avoid having to vacate on a regular basis—and you won’t have to worry about buyers coming and going.
There’s one significant downside to showing a property virtually. The truth is, some purchasers won’t feel comfortable buying a home without seeing it in person—no matter how good their virtual tour is. Of course, that attitude is starting to change for some buyers due to the pandemic.
The pros & cons for buyers
If you’re a home buyer, there are advantages associated with attending virtual viewings. First off, you can view properties from the comfort of your current home. It’s convenient and low-stress, especially during this period of social distancing. Remote tours also make it easier to see many homes in a short time.
Another major benefit of virtual viewings is the ability to refresh your memory about properties you’ve already seen. Having a video to revisit enables you to answer questions that may have already been addressed.
Of course, there are a few drawbacks associated with relying solely on a virtual tour. Without proper due diligence, doing so can be risky. It may be challenging to assess a home’s structure remotely, and the quality of the screen you’re using can impact your view of the property.
What it means for you
Virtual tours are becoming increasingly common, which is a good thing for both buyers and sellers. When they’re done well, they can lead to a more efficient (and less stressful) process.
If you’re on the buying side, your agent can help you reduce any risk associated with making a purchase decision based on a remote viewing. If you’re compelled to see a property firsthand, a true professional can also help you take that step safely. The important thing is to feel comfortable with the process if you’ll be taking part in it—so ask your agent if you have any questions!
Preparing to buy a home? For over 36 years, our clients have trusted us to minimize risk, offer unbiased opinions, and ensure their best interests are served. Contact us today to talk about your needs, by emailing us at info@christensengroup.ca or calling us at 416-441-2888 ext. 772.
