virtual tour
(Photo : Image by Lukas Bieri from Pixabay )
Home Prices In March Hit Largest Gain In 7 Years
(Photo : Photo by: Justin Sullivan/Getty Images) SAN FRANCISCO, CA - MAY 28: Real estate agent Katie Hayes (R) answers questions about a home for sale during an open house on May 28, 2013 in San Francisco, California. According to the Standard & Poor's Case-Shiller index, U.S. home prices surged 10.9 percent in March compared to one year ago, the largest gain since 2007. Phoenix, Arizona recorded the largest gains with prices spiking 22.5 percent and San Francisco, California was a close second with gains of 22.2 percent.

The coronavirus global pandemic has forced industries to perform their businesses differently.

The real estate industry is not exempted from this shift, and just like other companies, realtors have found themselves utilizing advanced technologies to keep the business moving forward. 

Due to the health crisis, open house and unit viewings have been suspended to prevent further spreading of the coronavirus. In a NAR survey in March 2020, 40% of real estate companies have suspended holding open houses in areas with the COVID-19 outbreak.

Instead of keeping the income floating, real estate professionals relied on technology and social media. Thanks to 3D home tours, realtors can continue entertaining potential homebuyers who want to see a property they might like. 

Virtual tours have been an ultimate game-changer in the real estate industry. Through the help of camera and drone videos, sellers can show off a property to clients instead of risking getting coronavirus through an open house setting. 

What is a 3D home tour?

A 3D home tour or virtual tour gives buyers a chance to see and feel inside their property of choice. They can see room dimensions, any angle of the house, and a 360-degree view of each room.

It allows buyers to get an accurate representation of the space as if you physically visited the house.  

As a result, realtors can conduct a 24 hours virtual open house, and potential buyers can view the property at the comforts of their home.

Virtual tours give customers an immersive experience; all they have to do is scroll and touch the screen and be teleported from the property. 

virtual tour
(Photo : Image by StockSnap from Pixabay )

According to realtor.com, the COVID-19 pandemic has increased the demand for 3D home tours as buyers opt to view properties online.

In response, realtor.com's chief product officer Rache; Morley, said they had improved their home tour options by adding other technology providers, aside from the popularly used Matterport tours.

"Concerns around the pandemic certainly heightened the demand for 3D tours, as many home shoppers wanted to explore the home but didn't feel comfortable visiting in person," Morley explained.

Pending Home Sales Rise In March
(Photo : Justin Sullivan/Getty Images))
SAN FRANCISCO - MAY 04: Real estate agent Paul Barbagelata (L) talks with a client during an open house May 4, 2010 in San Francisco, California. The National Association of Realtors reported today that the pending home sales index increased 5.3% in March and a 21% increase compared to the same month one year ago.

Advantage of 3D home tours during a global pandemic

Interactive

Virtual tours are viewer-friendly and give buyers an opportunity to explore the property on their own. It allows them to visit every room and review every angle they like so they can envision themselves living in their future home. 

Holds Buyers' Attention

In a typical open house or viewing setting, agents could get a hold of buyers as long as they want and present details to persuade them even more.

The same goes for virtual tours, as viewers have the chance to go back and forth the area. Unlike listing with photos and plain text, 3D house tours can captivate a buyer's imagination via a virtual walkthrough.

More Potential Buyers

Compared to a typical open house, virtual tours can reach potential buyers who live miles away from the property. They can view the house without the hassle of traveling.  

Saves Time

3D open houses are convenient for both buyers and agents. Rather than making their schedules meet, buyers can view the property whenever they like and contact the seller should they have further questions. 

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