Virtual Reality Tours Can Help You Sell Your Listings

Virtual Reality Tours Can Help You Sell Your Listings

Looking for that competitive edge?  Check out VR.

What is VR?  It is an artificial, computer-generated environment that you experience as if you were inside the image, or in this case the home. Put on a virtual reality headset and you can go on a tour of a home without ever setting foot inside the door, not only making house hunting more efficient, but also helping to reduce stress in a relocation situation.  As far as the selling process with VR, distance doesn’t matter. You can offer the same experience to a client in the United States and a client in Hong Kong, 24 hours a day.

One problem that has plagued real estate agents for decades is that an empty home is a difficult sell. Without furniture and all of the other little touches that turn a house into a home it can be very difficult for a potential buyer to imagine themselves living in a particular property. With technology, the virtual solution solves this dilemma and ‘staging’ a home, just got less expensive and easier than lugging in actual pieces of furniture to fill a home when it’s open for inspection. FloorPlanOnline’s 3D floor plan solution allows anyone to drag and drop furniture onto a “clean slate” floor plan model and virtually stage it with furniture.  Better yet, they can virtually change wall colors, flooring, or even experiment with removing a wall to see what an open concept might look like.  Click a button and see it in 3D from the top, or go all in with immersive First Person view. Our 3D plan enhances some of the other cool 3D tours like Matterport, which show all of the sellers’s stuff in the property, as well by converting any Matterport tour into a 3D model that allows you or the owner to do anything, all virtually and in real time.

But is this really what consumers want?  According to Coldwell Banker’s 2018 Smart Home Marketplace survey (download PDF here), the answer is YES!  Th CB study reveals insights on how smart home tech and VR (Virtual Reality) are set to benefit consumers in a myriad of ways.  Their survey included responses from 3,000 adults revealing that:

  • 77% of homebuyers would like virtual reality tours before seeing the listing in person.
  • 84% agree they would love to see video footage of homes before visiting
  • Another 68% would like to use technology to see how their current furniture would actually look in a new home.
  • Further, 62% of Americans said they would be more apt to go with a real estate agent, that offered VR Tours over an agent who did not.

An example 3D Space Planner, standard with all FloorPlanOnline Tours and HomeDiary users.

When it comes to Smart Home products that could make or break a sale, the table below shows a percentage of Americans who already own, or plan to purchase, Smart Home products.

The following Smart Home Products were picked by respondents to be the most important pre-install in a listing:

  • Smart Thermostat  – 77%
  • Smart Fire Detector – 75%
  • Smart Cardon Monodie Detector – 70%
  • Smart Camera – 66%
  • Smart Lock – 63%
  • Smart Lighting System – 63%

While some of the changes expected to hit real estate technology may be a decade out to be fully felt, the movement is taking steps forward every day. Virtual Reality has proven its worth and it won’t be long before it transforms the property-buying experience for home buyers all over the world.

FloorPlanOnline’s HomeDiary PRO service is the perfect online tool to help showcase your listings, and well as provide a unique homeowner management tool to all of your clients for one low annual fee. With HomeDiary PRO, you can provide an HGTV-like 3D floor plan tool to all of your clients to they can Dream, Manage and Do more with their home.   To learn more visit HomeDiary PRO.  Existing FloorPlanOnline customers, please contact sales for special options.

First Time Ever: Average New Home Prices Soar Past $400k

First Time Ever: Average New Home Prices Soar Past $400k

 

 

First Time Ever: Average New Home Prices Soar Past $400k

Over the past 7 years, a renewed faith in the American economy (starting back in 2010) and now continuing through 2017, has resulted in significant increases to the selling price of homes.

According to just released Census figures in its October 2017 New Residential Sales report,  new single-family home sales are up 6.2 percent month-over-month.  The Census Bureau’s numbers declared an average home sales price of $400,200 – the highest since March 2007’s average of $329,400.

 

There were approximately 235,000 new single family homes for sale in the US in December 2016. This is slightly lower than the 2015 value of 237,000, and 53% lower than the 2007 inventory of 496,000.

Also during the calendar year of  December 2016, there were approximately 563,000 new homes sold.  That’s an increase of 12.2% from the 501,000 homes sold in 2015. With this information, concerning yearend inventory of new homes, together with the December annualized rate of new home sales it is possible to determine the supply of new homes on the market. This value is calculated by taking the homes for sale in December (235,000) and dividing it by the December annualized rate of sales (536,000). This data shows us there was less than a six-month supply of new homes.

For 2017, the sales of new single-family homes in October were at a seasonally adjusted annual rate of 685,000.  The estimate of new homes for sale at the end of October was 282,000 which represents a 4.9-month supply at the current sales rate.

In an emailed statement, Realtor.com Chief Economist Danielle Hale said, “The pick-up in new homes sales should improve builder confidence and lead to more home construction, offering home buyers additional options and creating opportunities for current owners to trade into new homes, potentially unleashing existing home inventory.”

Additional data from the Census Bureau and HUD included (number of homes sold):

–The Northeast led the way in new residential home sales – 30.2% month-over-month increase

–The Midwest experienced the second highest rate of month-over-month growth at 17.9%

–The West and South came in with a 6.4% and 1.4% growth month-over-month, respectively

*Article Graph credit: Daniel Barnes/Unsplash.  Additional data: MONEY-ZINE, US Census Bureau; HUD