The real estate industry is digital. Realtors and brokers take their businesses online and they take advantage of modern technology to advance their sales. Virtual home tours are one of the tools they use. It is tried, understand if you don’t just take our word for it. But, we encourage you to check the statistics we compiled below. These numbers will prove to you that virtual home tours are key to selling homes faster and it will help your business grow.
Let’s begin with the obvious:
84% of first time and 79% of repeat home buyers search for properties online.
Huge numbers, right? But, this probably won’t surprise you. You already know that most home buyers look for properties for sale on the internet. That’s why you created a website, set-up a Facebook page, and put up property listings online.
FUN FACT: The others find their dream property in a very traditional way. Some read property listings on a newspaper. Others got tips from a friend. The lucky ones stumbled upon a For Sale sign on a lovely property while driving through the neighbourhood.
You might be asking… what does this have to do with virtual tours?
Earlier, we mentioned that realtors and brokers have online platforms like websites and Facebook pages. You can embed virtual tours here. When you do, your pages become more attractive, professional, engaging, and persuasive.
83% of home buyers rely on visuals
The real estate industry is highly visual. Before virtual tours, you use photos, videos, slideshows, collages, graphs, floor plan drawings, sketches, and renders.
Sure, these visuals still work. But, there’s nothing wrong in modernising your client presentations, right?
Virtual display tours are the visuals that your clients secretly want to see when buying a home. Why? Because they get to see the property as a whole even before the open house! What’s more, it’s a unique and in-depth viewing experience, perfect for huge purchases like this.
Here’s one example of our virtual home tour:
The real estate agent who used this met with a lot of interested buyers. Not all of them ended up buying a unit, but they all gave nice feedback to the agent.
More than six million people view virtual home tours of properties every day
And, believe us when we say that this number grows every day.
Many people are aware of the technology. They’ve seen it. They’ve probably talked to a realtor or broker who uses virtual home displays already. It helps them decide; whether to buy or not.
Six million people. Six million clients shared by a few realtors and brokers. Imagine how many potential buyers an agent has to take care of!
After knowing this, are you going to allow people to exit your website or to scroll pass your property listing because it’s not a virtual home tour?
This number shows that people want to see something better than photos, videos, and renders. They demand VR. Your business must supply it for them (before your competitor does).
54% of home buyers will not look at a listing with no virtual tour.
Ouch. Do you see what’s at stake here?
Virtual tours aren’t a luxury anymore. It’s a necessity. A majority of home buyers won’t spend their time on a property listing with no virtual tours.
You could lose half of your customers. You could go out of business.
Real estate properties with virtual home tours get 87% more views
This is not surprising now that you know how important virtual home tours are for buyers and investors. If your listing offers virtual tours, it gets more clicks and views than those without. The reason? More home buyers out there want virtual tours — or else they are not going to buy.
People stay 5-10x longer in real estate websites with virtual tours
Virtual tours don’t just steal the attention of the viewer, it also hooks them for a few minutes (usually from the beginning until the end of the tour). Because of that, the viewer stays longer on a website. The more engaged they are, the higher chances of converting them into paying clients.
But, the benefits of virtual tours don’t stop with sales. It also boosts your:
- Search engine rankings – Because your website viewers stay longer on your website, the bounce rates decrease which is good for your SEO.
- Brand awareness – The more engaged your customers are, the more they can remember you.
- Customer retention – Seeing the efficient upgrades in your business, your current clients won’t think about negotiating with your competitors.
- Converted leads – The more people come to your website, the more customers you can get.
These four other benefits lead to a dramatic increase in sales.
See ROI in less than four weeks
Most realtors and brokers worry if virtual tours are a financially viable option for their business.
If you can afford it, then yes, it is.
The thing is, VR is an investment. When done right and used in the right way, you will see the return of investment in a month or two.
Also, VR services and hardware are getting cheaper as technology improves. The cost of getting VR upgrades today is more affordable than last year or in 2016. The graphics are better today too. If you ask us, now is the best time to embrace VR. Not next year because your competitor might start before you do.
The ball’s on your court
We compiled these statistics so you know how huge is the impact of virtual tours on your business. Now you know what can happen in your real estate business if you embraced virtual tours. The numbers tell you to go for this investment, but, at the end of the day, it’s your decision to make.
Remember, home buyers prefer to see virtual tours when looking for real estate investments online. This won’t change anytime soon. This investment is in for the long run.
If you want to help your customers by modernising your business, contact us. We can help you get started on your virtual tours.