The real estate industry is one of the top industries that have been impacted by the pandemic. To make home buying and selling more accessible while adhering to CDC guidelines, realtors have sought new effective methods to show properties virtually.
However, even post-pandemic, these trends are so convenient for modern buyers they might just be here to stay. Here are some of the top post-pandemic real estate trends that realtors can expect to see more frequently.
As COVID-19 hit and lockdowns began, providing safe home tours became nearly impossible. However, the housing market was still hot and buyers were still competing against others for homes that came on the market. To provide buyers and sellers with the opportunity to tour homes safely, virtual tours became a popular option. So popular, in fact, that virtual tours may just be here to stay.
There are approximately 1.8 billion websites operating globally at the same time, and realtors can use websites like Trulia and Zillow to provide potential buyers with virtual tours options. This comes in handy not only for home buyers looking to purchase a home without physically going to tour the property but it also comes in handy post-pandemic for buyers who may want to see the home before coming to see it in person. These tours can help reduce the number of in-person tours during both pandemic and post-pandemic times, making in-person tours more efficient. This is beneficial because even the fastest closure on a home can take up to 65 days.
Video walkthroughs are similar to virtual tours, but while virtual tours are piloted by the home seller and can provide the best view of the property, video walkthroughs enable potential buyers to see the space as if they're actually walking through it. During the pandemic, this made it safer for potential buyers to view the house, and now, post-pandemic, buyers who may not be able to be present for every home tour can still view the property as if they're there.
Virtual tours and video walkthroughs only show potential buyers the interior and the exterior of the home up-close. Drone shots and videos made popular during the pandemic are now a staple in the real estate industry because they show potential buyers the entirety of the home including the roof. Drone shots also convey the property's landscaping and curb appeal, which can increase a home's value by up to 14%. For sellers, drone shots and videos provide an opportunity to take the best possible shots of their property with aerial photography. What's more, according to Forbes, up to 83% of real estate sellers trust real estate agents that use drones to promote listings compared to those who don't.
The COVID-19 pandemic has had a big impact on the real estate industry. However, the advancements in technology used to make buying and selling homes safer are most likely here to stay. With virtual tours, video walkthroughs, and drone shots and videos making home buying and selling more accessible and efficient, the current heat of the housing market could get even hotter.