Sunday, August 1, 2021

Do Virtual Tours Boost Property Value?

In the last year and a half, people all over the world have had to adjust, in one way or another, to the effects of the pandemic. This adjustment applies to the property market too. It was hit by lockdowns disallowing physical viewing and surveys of the property. 

Then, when the lockdowns eased, many restrictions still had to be faced with the government’s guidance during the pandemic to minimize the number of physical onsite viewings. Also, some estate agents did not have a full quota of staff due to furloughs, etc., to be able to arrange and conduct such physical property viewings. 

Virtual tours, defined as “not physically existing as such but made by software to appear to do so”, saved the day for those involved in the property market, as the estate agents in Buckingham and all over the UK will acknowledge.

With the boom in the real estate market, it has been easier for agents to meet the demand by offering virtual tours instead of onsite inspections. Research has found that not only have virtual tours increased in popularity but have also boosted the value of properties.

Increased Technology:  The specifics available for virtual tours are increasing with advancing technology and AI (artificial intelligence). Virtual tours can now become 3D walkthroughs! These offer a high-definition replica of every aspect of the property, including proper floor plans. 

Any particular nook or corner of the house, from the map, can be chosen for such a viewing. The home can be presented from different angles, giving a wider sphere of inspection. While virtual tours include the outdoor space of a property as well, walkthroughs usually concentrate more on the interiors. Virtual staging has become more popular now. 

This technology allows people to visualize what the home would look like by placing virtual furniture, fittings, fixtures, changing wall colors and flooring, to make it easier for the people concerned to come to a decision. Virtual staging is also used for unfurnished properties where it is difficult to visualize empty spaces. 

Time-saving:   Virtual tours have proved to be quicker and more efficient. It saves the time, energy and cost of physically going to a site for viewing. It is quicker for a prospective buyer to make a decision by virtual viewing of many properties rather than by making multiple physical onsite inspections. 

It is also time-saving by pre-qualifying buyers and eliminating having to answer calls from some people who are more “window shopping” and not seriously interested in buying a specific property. By having virtual tours online, there is more time to focus on various other important matters. 

Convenience:  Virtual tours are available 24/7, making it easy for people to choose a convenient time for viewing. This is feasible for overseas buyers as well. Also, for elderly or physically disabled people who may find it difficult to be present for an onsite physical viewing, a virtual tour option is a boon. 

For physical viewings, usually, a cleaning agency is called, or the homeowner has to make sure the house is in “showcase” condition each time viewing is scheduled. With virtual tours, the property can be projected in its best condition, with key features highlighted to attract prospective buyers. 

The convenience of people being able to vet properties on virtual tours from the comfort of their own homes without having to physically attend multiple viewings is making virtual tours a vital part of the property market.

Increase in potential:  Access to virtual viewing of properties is available to people all over the world. This increases the scope of probable buyers, including foreign investors. Marketing assets are improved with virtual tours, leading to increased interest, a drive to achieve the goal, and a faster sale. Not only do virtual tours increase the number of potential buyers.

They are an asset for agents as well, as they can attract more clients and increase sales. There will be a boost for the agents’ websites as search results rank higher. Bounce rates (the number of people who exit a website after an initial look) can be reduced by high-quality virtual tours, which will keep the visitors engrossed for more extended periods of time.

Conclusion:  Before the pandemic, virtual tours of property were considered expensive and attractive commodities and non-essential ones. However, with the advancement of digital technology and high-quality virtual reality, such property tours are now easily accessible and affordable. 

They became essential during the lockdowns. While some people are still convinced that physical viewings of property are the best and most dependable, virtual viewing has increased so much during the pandemic, offering better and wider aspects. This, in turn, has increased the number of property sales and the prices, too. It looks as if virtual tours do boost property value and are here to stay!

Read also: Begin Your Ecommerce Journey Now!

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