The Rise of Virtual Tours in Raleigh Real Estate
The Rise of Virtual Tours in Raleigh Real Estate
Are you interested in learning about the rise of virtual tours in Raleigh real estate? Virtual tours are extremely beneficial in real estate; here is everything you need to know about virtual tours in Raleigh.
Home selling and buying can be a difficult and overwhelming process. On the other hand, it is also the start of a new and exciting journey. Every industry has evolved in recent years due to the rise of technology and the end of the COVID-19 pandemic, including the real estate industry.
Virtual tours in real estate include in-depth video tours and 3D photo tours of properties. These are an amazing resource for buyers, sellers, and real estate agents. Virtual tours are great when buyers can't physically be there to tour a home or commercial building, which is extremely beneficial if you are moving cross country.
By providing convenient access, immersive experiences, increased engagement, enhanced safety, and time and cost savings, virtual tours are transforming the real estate business. A great perk of virtual tours is that they can be created with little to no money; you don't even need to work with a real estate agent to create one.
We know buying a home can be a difficult process, and the rise of technology can make it even more confusing. However, virtual tours are known to be everything but confusing. If you are interested or looking into moving to Raleigh, you should be aware of how virtual tours are impacting real estate in the area.
Keep reading to learn all about the rise of virtual tours in Raleigh real estate.
Chapters
1. What Are Virtual Tours in Real Estate?
A virtual tour of real estate is an in-depth walkthrough of the interior of a home. This showcases what it would look like in person. Virtual tours also include 3D photo tours of the home, which are used by several real estate companies and apps.
Interactive tools are great to use as real estate agents and will increase the experience for buyers who want to see the home again or are unable to see it in person. During the height of COVID-19, virtual tour rates skyrocketed, as they were the only real way buyers could view a home in a safe way. Even with life back to normal, many home sellers are still using virtual tours to market their homes.
This type of digital marketing attracts many first-time homebuyers, millennial homebuyers, and experienced real estate investors. Not only is this good to attract buyers, but to establish brand power and stronger relationships with clients.
According to Harvard Business School, approximately 22% of houses used virtual tours. This percentage has grown higher in the last year as technology use has skyrocketed with apps like Instagram, TikTok, and X (Twitter).
If you are considering creating a virtual tour for your home, it is important to highlight the best parts of the home, similar to what you would do during an open house. Many real estate agents provide information about the location, neighborhood, local businesses, and community.
2. What Are The Benefits of Virtual Tours in Real Estate?
Virtual tours in real estate are extremely beneficial for all parties involved. For sellers and buyers, there is increased access because buyers can view the property 24/7 without feeling pressured in person.
Here is a more in-depth look at the main benefits of virtual tours in real estate:
Better Viewings: Buyers have more time to pause the video or rewind to review the property, landscape, and features. This will help them make a more informed decision before putting down an offer.
Saving Time and Money: This goes for agents and buyers; agents won't have to spend days in the house showing it during an open house. This applies to buyers, too, who won't have to spend their limited time during the house hunt going around to all the possible homes. This coincides with the money each would be spending on traveling to the home. In addition, agents won't have to spend as much money advertising or setting up an open house.
Increased Safety: One of the main drawbacks of an open house is the safety threat that comes with allowing strangers into your home. A virtual tour would allow you to feel much safer in your home throughout the home-selling process.
Convenience: The final pro of creating a virtual tour for home buyers is that it increases convenience, which can allow you to reach more buyers and sell the home faster.
3. What Are The Drawbacks of Virtual Tours in Real Estate?
Everything will have some cons, and virtual tours will do as well. A virtual tour is obviously not the same as viewing a home in real life. However, it is the next best thing, especially after the COVID-19 pandemic.
Here are the main drawbacks of using virtual tours in real estate:
Not Suitable For All Properties: All properties are different, and a virtual tour can make it difficult to showcase all the unique features of a home or property. An agent can't go into as much detail through a virtual tour as they would be able to show you in person.
Less Relationships with Potential Buyers: One of the main reasons real estate agents hold open houses is to create relationships with buyers. A virtual tour doesn't allow an agent the time or means to create these relationships with buyers or grow their business as well as an open house would.
Lack of Detail: For many buyers, an open house gives them the time to look for common issues with a property. If you are only viewing the home through video, an agent could leave out these problems, and you might not see them till you are moved into the home. It is important to look closely at these videos or in person to watch out for potential problems that would come up during the inspection.
Lack of Sensory Experience: A virtual tour would only give you one or two angles of a room, whereas, in an open house, you can see a room from many different angles. If you are in person, you will be able to feel creaks in the floorboards, look into closets, determine how much natural light a home gets, and more.
4. Virtual Tours for Real Estate Agents
Virtual tours are becoming an increasingly popular and effective tool in the real estate industry, especially in Raleigh. For real estate agents, this allows them to create a memorable experience for buyers through the use of many social media websites.
According to the National Association of Realtors (NAR), 97% of home buyers use the internet during their home search. Approximately 47% of buyers start their search online, and over half of buyers find their dream home and buy online. Many are starting to search for homes through social media platforms as well.
Not only does the use of virtual tours increase awareness for homes in a certain area, but they allow real estate agents to reach more clientele. If an agent creates a good quality and memorable video of a home, a potential buyer is more likely to reach out and become a client.
As a real estate agent, if you are the one creating the virtual tour, there are a couple of things to keep in mind:
Prepare The Property: Similar to holding an open house, you will still need to stage a home for a virtual tour. The property should be clean and tidy, trash should be removed, and there should be no distractions, such as people or pets, in the video.
Use Natural Light: Since buyers will not be physically present, you are responsible for showcasing the home in the best light. This means opening window coverings and shooting on a sunny day to brighten the home.
Include The Exterior: Include the exterior of the home in the video as well. Ensure the outside looks as good as the inside with proper curb appeal. You can even show the neighborhood as well.
One of the best parts of virtual tours is that they don't have to cost any money at all. Selling a home can be overwhelming and expensive; any money you can save the seller will go a long way.
5. Virtual Tours for Home Buyers
Almost all real estate companies post pictures of homes on their websites for home buyers. However, a virtual tour is a much better alternative to allow home buyers to feel like they're in the property.
According to PhotoUp, 67% of home buyers want to view a virtual tour when looking at a listing. This will dramatically increase the amount of buyers who will see the home.
Similarly to the benefits for real estate agents, this will save buyers a lot of money that would be spent on traveling to the home. This is a free and convenient way to view a home, even if you are still planning on seeing it in person.
It is recommended to view the home in person as well in order to find any potential problems that were left out or not visible during the virtual tour.
Methodology
We used information and data from several different sources, as well as our own data, to determine everything you need to know about the rise of virtual tours in Raleigh real estate. Most of the data was sourced from the following sources:
FAQ: Virtual Tours in Raleigh Real Estate
Here are some commonly asked questions about the rise of virtual tours in Raleigh real estate.
Is there a demand for virtual tours?
Since the COVID-19 pandemic, many industries have turned to remote solutions, including the real estate industry. Virtual tours have been a great alternative since then for real estate agents and buyers alike.
Do virtual tours increase sales?
Virtual tours are an emerging but beneficial tool that has proven to increase sales and enhance customer experience. Virtual tour marketing can significantly impact the home selling and buying process.
What does virtual tour mean in real estate?
In real estate, a virtual tour is an in-depth walk-through of a home on the market. This typically starts with the outside of the home and then goes through each room on the interior. These can either be done as a video tour or a 3D photo tour.
What is the future of virtual reality in real estate?
Virtual tours in real estate not only boost visualization but also allow buyers the opportunity to engage in tours without being physically present. A Goldman Sachs report predicts that by 2025, the AR and VR market in real estate will hit $85 billion.
How much does it cost to create a virtual tour?
Creating a virtual tour can cost as little as free. Agents or sellers can create the tour on their own with a personal cell phone or hire a professional company; this would range in cost from a few hundred to a few thousand dollars.
Virtual Tours in Raleigh Real Estate - The Bottom Line
Many real estate agents have begun to use virtual tours in addition to open houses. These allow agents to reach more home buyers and sell your house quickly. Virtual tours also make it easier for home buyers to find their dream home because they won't have to travel from home to home.
A lot of agents in the Raleigh area still hold open houses where buyers can enter the home and view it in person. However, if you are moving from another state, a virtual tour will give you the best view of the home without having to travel all the way there.
If you are still worried about moving to a new place, many home buyers prefer to rent a home before buying one. This will give you the time to check out the area and search for homes with much less stress.
Before you buy in Raleigh, North Carolina, feel free to contact one of our helpful real estate specialists, as they are eager to help you find the perfect home. We know that buying a home can be overwhelming, but a real estate agent can walk you through the entire process.
Ryan Fitzgerald
Hi there! Nice to 'meet' you and thanks for visiting our Raleigh Real Estate Blog! My name is Ryan Fitzgerald, and I'm a REALTOR® in Raleigh-Durham, NC, the owner of Raleigh Realty. I work alongside some of the best Realtors in Raleigh. You can find more of my real estate content on Forbes, Wall Street Journal, U.S. News and more. Realtor Magazine named me a top 30 under 30 Realtor in the country (it was a long time ago haha). Any way, that's enough about me. I'd love to learn more about you if you'd like to connect with me on Facebook and Instagram or connect with our team at Raleigh Realty. Looking forward to connecting!
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