Last week, I met a friend for a drink and the topic of buying a place came up. She was planning to move out of her current rented place and buy a house with her boyfriend. Having scheduled 4 of her viewings with Agent A on 14 Feb 2017, curiously, I asked her, “of all dates, why 14 Feb? It is Valentine’s Day.” Immediately, she cancelled all the viewings.
This scenario may sound familiar, and I am sure the thought of preventing these waste of time ever occurred.When you use Virtual Tours to market the properties you represent, the cost and time savings are significant. Viewers who have been through the virtual tour will be able to decide if it’s the property they seek. When they eventually call you, the interest is genuine and your chances of closing the deal are higher.
In this article, let us explore how Virtual Tours can help you market properties in your portfolio, be they beautiful or unattractive ones.
Why Beautiful Properties need Virtual Tour?
Have you ever wondered who the first property agent to use photos to market properties was?
When did every real estate agent started following suit?
Most importantly, why do you use photos to market your property?
The answer is obvious; photos produce results. This technique, “Improved Marketing through Visualisation,” takes advantage of the simple fact that, we humans are Visual Animals.
We make decisions by what our sight provides. We are impressed by what we see. We turn our heads to look at beautiful things. If you have a beautiful property in your portfolio, why limit its potential? A beautiful property should be shown off, catching as many pairs of eyeballs as possible. Show it to potential buyers who can afford it, or even those who may not at the moment.
Why, you ask. Because it gives them a dream, allowing them to walk through the property as though they are there and visualizing how it’s like to be actually there. People who are impressed will share it with their friends, they will tell their friends and colleagues, or even share it on social media. Hence, it makes a highly effective but yet cost-free marketing tool. As a result, you will get more calls from potential buyers, which is what you wanted in the first place.
Why Unattractive Properties need Virtual Tour?
Several years ago, I was looking for a home as a newlywed. My wife and I were looking for a 3 room HDB (Housing & Development Board) resale flat near the city. We browsed through various property portals, going through numerous listings. The first thing we did was to filter out those that had no images or insufficient details, even though it might have been in our desired locations. In the end, the ones we shortlisted had something in common - they had many photos and detailed descriptions.
Why did my wife and I filtered out those listings initially? For the simple reason that we do not have the luxury of time to go for so many viewings. Also, I felt that the agent might be hiding something, hence the lack of confidence to provide sufficient photos and information. Yes, I may have possibly missed out on better units, though I believe that the agent who put in the effort, deserved the deal.
Make a Difference
There are more than 100,000 listings in property portals. Even after filtering by area and other basic requirements, there are at least 50 to 100 listings to sift through to our dream home. So how do you make your listing stand out from the rest? Should you hide as much information as possible, because the property you are marketing is not attractive, and still hope for calls from potential prospects? Or do you put as much information as possible and be totally transparent, to attract potential buyers who are genuinely interested?
The answer should be rather obvious by now. Virtual Tour is definitely one of the ways to attract these potential buyers to look into your listing. It is all about law of large numbers, when there are more people looking at your listings, the chances of conversion into a successful sale will be higher.
With the advancement of technology and education, demand from buyers will be higher. Buyers will want more information, details and transparency before they commit to buy a product. Virtual Tour will be the future on how buyers view properties. It is your decision to set the trend first, or to follow the trend after.