Page 31 - The Negotiator Mag 52pp

From humble 2D floorplans to fully Add a virtual tour to add value
immersive VR presentations viewed using Oculus headsets, there are many ways to present a property. This year has been a real litmus test
for virtual tours, with the pandemic having fizzled out and in-person viewings back on the agenda. And what about floorplans? Have they been edged out by dollhouse views or do they remain a marketing must-have?
Supplier research suggests there’s a huge imbalance between the number of virtual tours being commissioned by agents and the level of demand for them among home movers. Even despite the heavy reliance during lockdown,
it’s widely reported that only three to four per cent of UK property listings have a virtual tour. It’s a figure Mark Enright at Giraffe360 says is completely out of kilter with the amount of prospective home movers who expect to be offered some sort of virtual viewing.
“As with any industry, supply follows demand – the more prospective buyers are exposed
to virtual tours, the more they request them from agents,” says Mark. “Our research shows demand for virtual tours in the UK ranges from 49 per cent to 85 per cent – and it’s growing even after coming out of lockdown.”
Mark feels the slow uptake of virtual tours among agents is because they’re still focused on traditional tactics and face-to-face sales, while the financial investment needed to purchase a 360° camera and host tours can be off putting. It’s here, however, where the ‘speculate to accumulate’ old adage rings true.
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Statistics provided by Giraffe360* show that listings with a virtual tour receive 87 per cent more views on average, while users spend 5 to 10 times longer looking at a property with a virtual tour. This heightened interest translates to financial gain. Properties in the sales market with virtual tours carry an estimated premium of 5.6 per cent, compared to homes marketed without one, while a property for rent listed with a virtual tour has an estimated 8.5 per cent premium – equivalent to an extra
£94 per month in rental income. Mark’s point about face-to-face sales
and traditional methods also resonates with Nigel O’Connell at Revvis. One of the loudest
Revvis provides a virtual experience inside and out.
Remote viewings clearly contribute to a lower carbon footprint and improved air quality but they can also save an agent and viewers money at a time of rising fuel costs. Richard Abbots Inventory Hive
counter arguments concerning virtual tours is agents losing leads before they’ve booked a physical viewing and missing opportunities to get in front of people to potentially win a new instruction.
“Instead of putting people off, I believe virtual tours are instrumental in helping book physical viewings,” comments Nigel, moving the narrative into the area of pre-qualification. He feels the significant detail contained
within a virtual tour is more compelling when drawing up a shortlist to view. And when prospects do arrive, they’re the most genuine and informed. “Virtual viewings ensure buyers conducting physical viewings have a higher chance of converting - they have already discovered that a property is a good match through the detail of a virtual visit.”
AUGUST2022 31 29/07/2022
12:44
The lockdown legacy
Inventory Hive remote viewing – a low-carbon alternative.
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Lisa Isaacs asks if virtual tours are the great legacy of the ‘workarounds’ of lockdown and discovers the role floorplans are playing post pandemic.