The real estate market has always been booming. But it has somehow taken a backseat during this COVID-19 crisis. It’s expected due to the pandemic restrictions as a way to curb the spread of the novel coronavirus. Also, many individuals and families have been financially struggling, so investing in properties is the least of their concerns.
Still, there’s no sign of stopping for the real estate market. Despite the restricted movements and financial constraints, some people are still considering a home purchase. And realtors of home sellers are looking for ways to cater to the needs of potential clients. One viable solution is the use of virtual tours in real estate.
Virtual tours for property viewing have become increasingly popular during the pandemic. Let’s take a look at how they work and how beneficial they are.
What virtual tours for real estate are
Virtual tours are exactly what they are. They allow people to have an immersive experience of a place or property via digital platforms. This means that they don’t need to be in the place physically. These digital experiences use extended reality (ER) technology, whether augmented reality (AR) or virtual reality (VR).
In real estate, virtual tours allow potential homebuyers to have a preview of a property using digital platforms. These homebuyers can examine the property’s exterior and interior, including the living space, kitchen, bathrooms, and bedrooms. Virtual tours are indeed an ideal solution in property viewing, as they eliminate the time, money, and effort to visit the actual property.
How virtual property tours work
People looking for a house and lot for sale go through a real estate journey. In the home-buying journey, open houses are considered a vital part of the early stage of the process.
Typically, people check a property listing and examine photos of prospective houses. At times, these individuals get a virtual tour of these properties. From there, they’ll consider attending an open house.
During the open house, homebuyers will examine the house or dwelling itself. This will determine their next steps in the home-buying process. Either they’ll take the plunge or consider other property options.
Virtual tours have become robust during the pandemic, as they serve as an alternative to open houses. Due to the pandemic restrictions such as social distancing, homebuyers heavily rely on virtual tours in making purchase decisions. In fact, there’s now what we call a virtual open house, which is exactly what it is.
How beneficial virtual tours are in a pandemic
Virtual tours come with a handful of benefits for homebuyers, especially during this pandemic. As such, be sure to take advantage of the following:
- Safety:Safety is a top priority during this pandemic. Instead of visiting the actual property and risk getting infected with the COVID-19, resort to a virtual tour instead. Through this, you won’t compromise your health at all.
- Stress and Hassle Elimination:Visiting a house for property viewing can come with a lot of stress and hassle during the pandemic. You and your real estate agent need to strictly follow the health and safety measures like wearing masks, sanitizing your hands, and maintaining social distancing. Virtual tours eliminate this stress and hassle.
- Convenience:It can somehow be impractical to visit a house for viewing. Why? If you end up uninterested, you’ll waste your money, time, and effort in doing so. But having a virtual tour is straightforward. You check the property virtually and decide whether you like to take the next step or not. This option saves you time, money, and effort.
- Greater Reach:No matter where you are in the world, you can check a particular property of your interest. The 3-D virtual tour doesn’t only give you a glimpse of the house; it enables you to have a thorough look at the property in a remote location. Yes, you can continue with your real estate transaction online without being physically present.
- Virtual Open houses:As mentioned above, virtual tours are open houses. However, the difference between the two is the availability of time for property viewing. For an open house, you must set an appointment and be there for property viewing during the scheduled time. For a virtual open house, you can take a look at the property anytime. If undecided, you can always go back to reexamine the property.
There’s no sign of stopping for the real estate industry. Key players in the real estate market will always find ways to keep the industry afloat. Visual tours are indeed a viable solution for property viewing, and they come with a handful of benefits. In the wake of the COVID-19 pandemic, virtual tours will make or break homebuyers’ home purchase decisions.