The real estate market is currently a seller’s market which means the demand for homes is higher than the number of homes available for sale. Lower housing availability is causing buyers to expand their search both in the home’s location search and the bidding or buying process. According to real estate agents, buying a house sight unseen is increasingly common. The method of selling real estate remotely is being deemed virtual selling.

According to Zillow and Trulia, real estate listings with a 360° virtual tour sold 10% faster than listings without one. Additionally, the listings with a 360° virtual tour received 50% more saves from potential buyers.

A high dynamic range (HDR) virtual tour provides an accurate understanding of a property’s layout and an immersive experience, therefore, helping potential buyers or renters in their purchasing decision. A virtual tour allows buyers and sellers to feel more confident and could lead to a higher final sales price.

Traditionally, for buyers or renters to view a property, they would have to physically walk through the home by making an appointment or attending an open house. This is a time-consuming process for both the potential customer and the real estate agent. As a buyer, how many times have you thought a place would be “the one” to only walk through the home and learn that the layout doesn’t work for you? Additionally, as a real estate agent, many times, buyers contacted you and needed to see a home immediately but ended up not being interested. In both scenarios, a virtual tour would have saved both time and energy for everyone involved.

Yet, with the real estate inventory being at historic lows and the market being extremely competitive, any time wasted could be the difference of a buyer or renter losing the perfect home or a real estate agent losing potential commission. Virtual tours help streamline the buying process by allowing potential customers to understand a property’s layout better. Simply put, virtual tours are the modern-day open house. Virtual tours should not replace an open house; virtual tours should be seen as another tool that helps extend a property’s reach and moves even closer to a sale.

As buyers continue to look for real estate options outside of their typical search criteria and increasingly often purchase homes without ever stepping foot in the property, a virtual tour is a needed and necessary tool.

At Boomerang Virtual Tours, we are proud to share that we have taken the virtual tour a step further by allowing real estate agents to meet with potential customers virtually and provide a guided tour. Agents can now video conference, much like that of Zoom, but now directly within the virtual tour. Our virtual tours support up to four individuals attending the tour, and attendees aren’t limited by their devices. Boomerang Virtual Tours works with any device from a mobile phone, tablet, or computer.

Virtual Selling Real Estate in a Seller’s Market