The Marketing and Selling Trend Taking the World by Storm
Now more than ever, real estate agents, sellers, and buyers are employing and interacting with virtual open house options. So, what exactly is this trend, and how does it work?
What Does It Entail, and When Did It Start?
Open houses have been a tried and true method of selling real estate for decades. After all, what better way to interest a buyer in a property than by giving them a real-time look into the place they’ll be purchasing, living in, and using? With the advent of new technology, open houses have started to shift towards video options, which primarily include two choices:
- Static—videos recorded ahead of time and embedded into your website, uploaded onto social media, or included in the listing. These videos can include 3D tours with virtual staging or a guided walk-through of the property.
- Live—scheduled in advance, live virtual open houses are streamed on social media sites like Facebook Live or other various platforms and allow potential buyers to interact with the agent or seller in real-time. Like regular open houses, these virtual events can cater to a broad audience or be a one-on-one session with specific interested buyers.
Who Is It for?
Everyone can benefit from the use of virtual open houses. For sellers, virtual open houses are a way to entice long-distance buyers and relocators with more information and content. Buyers in all locations can view more about the house without committing, and static videos offer the chance to tour the home on your own time.
In the age of social distancing
, virtual open houses are also a safe alternative to the traditional event, and sellers can host large gatherings online to generate leads that then narrow down into potential buyers who might want an in-person tour. This is particularly useful for those with health concerns who might otherwise be limited in their searches. Interested parties can ask questions and learn about the neighborhood, all from the comfort of their own home.
Are They Effective?
More than merely a clever, convenient way to maintain the social component of real estate transactions, virtual open houses are also a handy marketing tactic. According to a 2019 NAR study
, nearly 50% of home buyers who used the internet in their search found virtual tours very useful, and almost a quarter of the same group found videos to be very useful. Additionally, videos generally draw in more traffic
to your website, which means you’ll generate more leads.
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