Virtual Viewings: The Future Of House Sales?

1st April 2020 posted in Property News Sellers Buyers

Even though video content and virtual viewings have been growing in popularity in recent years, it is reasonable to assume this style of content will become integral to the future of house sales. The current Government guidance for the housing industry referred to virtual viewings as an acceptable way for agents to progress house transactions.
At Hunters Forest Hill, we are pleased to say we are following Government guidance, but we are also assisting our clients. The housing market hasn’t been shut down, and if agents can provide a service while complying with Government guidance, they have been advised to carry on. Which is why we remain active, and we are pleased to say we are helping local clients during a challenging period.

We are delighted to offer virtual viewing services. We can arrange a time to contact our client, and with the use of video communication technology, we can provide a reliable valuation without having to attend a client’s house. Through the use of apps like WhatsApp, FaceTime or Skype, we can review your home, and use this information to create a virtual valuation.

By looking at your home, and using our knowledge of the local property market, we can provide a fast valuation which provides clients with a benchmark for their property. With additional time at home, we know many people are planning their next move in the future, and our valuation service offers an excellent starting point in developing plans.

Why virtual viewings work

However, while virtual valuations are an excellent resource in the short-term, it is virtual viewings which are likely to have the most significant impact going forward. Clients who have already had a virtual viewing created for their property are ideally placed to attract potential buyers right now. Vendors who don’t have a virtual viewing set up as of yet will need to wait until restrictions are limited, but it will become an integral component of selling property in the future.

While there is a variance in opinions as to how many viewings it takes to sell a home, a leading UK agent has provided information indicating it takes 25 viewings to sell a property. It should, therefore, be easy to see why creating an online viewing process which is available around the clock, and it will enhance the viewing process.

Over time, it is hoped virtual viewings will lower the number of actual viewings, but each viewing which takes place will have a higher level of buyer intent. Potential buyers who take the virtual tour and decide against the property will take the process no further. Therefore, the people who are most likely to arrange a real-time viewing will have viewed the property online a few times and will have a genuine interest before they visit the house.

This will minimise the work and frustration felt by property vendors, and hopefully speed up the task without compromising on the sales process.

Benefits of virtual viewings

While the need for improved video connectivity is apparent in the current climate, it is always a good idea to reiterate the benefits of virtual viewings.

Virtual viewings save time – vital in the promotional process
In the housing market, time is of the essence when selling a home. While a virtual viewing doesn’t replace a potential buyer attending a home (most buyers will want to see the property at some point), it can allow for a “first glance” viewing much sooner in the sales process.

Moving potential buyers to this stage more quickly speed up the process, which is helpful for all parties. Buyers will be more motivated when the process moves quickly, vendors will see the process moving at a faster rate, helping them to feel more confident, and agents will waste less time and effort on uninterested parties.

While there is a need for the property to be recorded, once this has been completed, there is no need to do it again. For the vendor, rather than having to be present for every viewing or prepare the home on many occasions, they can take more of a backseat at this stage. Having one less person to arrange matters with will speed up the process.

A virtual viewing can save money
While there is a time-saving with minimising property viewings, there is also a financial saving for agents and buyers. There is a cost associated with travelling for viewings, so anything which makes the process more affordable is a positive aspect.

Properties will become more accessible
There is often an accessibility issue with property viewings. With video viewings, people with limited movement, who are limited with their free time or who live remotely from the property, there is greater access. This should increase the number of potential buyers, which will hopefully lead to a higher level of interest in the property.

Video content assists with promoting the property
No matter what aspect you consider, video content is useful when it comes to promoting a property. Video content can be displayed on many sites, increasing the number of chances of connecting with potential buyers. For SEO purposes, video content is useful, driving more people towards an estate agents’ site, helpful for the agent and vendor.
Also, video content engages potential buyers, so there is a higher likelihood of a potential buyer seeing the property, and developing an interest in the house.

Whether the medium is video content, 3D-models or virtual reality walkthroughs, the nature of how vendors present homes and how buyers view property is evolving. This has always been the case, but the current situation has exacerbated the need for the property market to develop. No matter the changes which occur in the market, you can rest assured Hunters Forest Hill is here to assist you.

At Hunters Forest Hill, we know selling property is challenging, but we are here to assist you in the process. If you aim to buy, sell, let your home or rent property, we are active in New Cross, Peckham, Dulwich and Brockley, in addition to Forest Hill, so get in touch with one of the top three agents in London, and we will be happy to assist you.