The real estate industry has always been known for utilising the latest technologies available to bring buyers and sellers together. From announcements at Town Hall gatherings to the printing presses, the introduction of radios and television sets in households, and finally the World Wide Web, property practitioners have always been on the lookout for the best means to publicise property.In the COVID-19 world, though, this has become a bit more difficult. But once again, the latest technology is helping us do just that.
With the assistance of Matterport and ZOOM, agents are able to take prospective buyers through what may be their new home, from the comfort of their own home thanks to virtual viewings.
The virtually viewed property is built off of actual panoramic footage that is synthesised into a dimensionally accurate 3D model on Matterport’s unique platform. Going from room to room, viewers will be led through the property and are able to ask questions along the way. Where a virtual tour may, in fact, even trump a physical viewing, is in the ability to view the property as a scale model, almost like a doll’s house, allowing the prospective buyer the opportunity to see the property in a way they may never have thought of before.
Where Matterport tours are not available yet, basic ZOOM meetings can be arranged where the seller of the property will take the agent and prospective buyer on the grand tour. While buyers may not be able to see the doll’s house version of the property, they will still have the opportunity to be guided through the property and gain valuable information as the tour proceeds, being able to ask questions immediately if something catches their eye.
Offers made during this time, based on virtual viewings alone, will be subject to physical viewings post lockdown. But with the help of virtual viewings, buyers and sellers can ensure they are ready to hit the ground running as soon as the lockdown alert level allows.
The world may never be quite the same again, but when it comes to the real estate market, that may just prove to be a good thing. Through the technological avenues that estate agents have been using to keep the market as active as possible, a more efficient way of approaching property viewings may be here to stay, even when the world gets a clean bill of health again.
This article is a general information sheet and should not be used or relied on as professional advice. No liability can be accepted for any errors or omissions nor for any loss or damage arising from reliance upon any information herein. Always contact your legal adviser for specific and detailed advice. Errors and omissions excepted (E&OE)