According to a recent MReport, over half of 2020 homebuyers purchased a home without seeing it in person. Redfin reported that these buyers opted for seeing the home via virtual tours. Experts found that one in ten homebuyers requested a remote tour, due to the COVID-19 pandemic. In addition, there was another study conducted that revealed similar results. The study surveyed roughly 1,900 homebuyers across 32 major markets. The survey showed that “about two-thirds of 63% of those who purchased a home in 2020 made an offer on property they had not viewed in person. That makes the highest share of site-unseen purchases since at least 2015, the researchers said. The numbers are up 32% from the previous year”. According to Daryl Fairweather, the Redfin chief economist, virtual tours will continue to trend in 2021. Fairweather commented that shoppers who are looking at homes out of town and do not have the time and/or ability to see the home in person will use the virtual tours to see the home. She predicts that with the increased use of technology and amount of people relocating to a different area, a majority of homebuyers will continue to make offers on homes they haven’t seen in person. According to the article, monthly views of 3D walkthroughs on Redfin.com have increased 563% since February.
WHAT IS A VIRTUAL HOME TOUR LIKE?
Mary Ellen Wisneski, a Connecticut-based Redfin agent, further explains what a virtual home tour is like. She states that when doing a video tour she is able to show her shoppers closeups of anything in the home and describe any details about the home that they can’t experience in the walkthroughs. She comments that “it’s like they are actually there with me”. Redfin real estate analyst Tim Ellis describes his personal experience of purchasing a home that he viewed virtually. Ellis says, “We spent two or three hours over the span of a week pouring over the 3D walkthrough on the Redfin.com listing and video toured the home via Google Duo with Wisneski, who was our agent. Through the video tour, Wisneski pointed out cracks in the plaster, loose doors and other minor issues that weren’t visible to us on the screen.”
Click here to read the full MReport and learn more!
Click here to read the full Redfin report and learn more!
ARE YOU READY TO FIND YOUR DREAM HOME?
Contact us today to get started!