70% of Sellers Say 360 Virtual Tours of Home Are Now a Necessity Let's know why

For residential & commercial property, 360 Virtual Tours has become increasingly important since the coronavirus outbreak. Over the last eleven months, home sellers, buyers and land professionals have had to figure around restrictions preventing in-person property showings and grapple with safety concerns over potential exposure to COVID-19. Last January, A survey was conducted to find out about buyer and seller preferences for home listings. They found that static photos are not any longer enough which both sellers and buyers overwhelmingly preferred, A more immersive experience with 360 tours.

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What’s changed?

Eleven months into the pandemic, 78% of home buyers say they’re choosing to look at more properties virtually with 3D tours due to safety concerns. Home sellers shared these concerns, although to a somewhat lesser extent. Older homeowners were presumably to possess safety concerns, with 59% of Baby Boomers reporting that reducing the amount of individuals visiting their homes was a plus to having a 3D tour, compared to 40% of generation X and 38% of Millennial home sellers. Sixty-nine percent of home sellers who didn’t think that 3D tours were a necessity before the COVID-19 pandemic, now feel that they’re. The sentiment was especially pronounced for people living within the suburbs and little towns – 76% of individuals living in non-urban communities now say that 3D tours are a necessity, whereas only 45% felt that way pre-pandemic.

Buyers need a True-to-Life Virtual Experience

The first impression of a home often comes from its online listing, and this first online curb appeal can mean the difference between capturing or losing a prospective buyer’s attention. While home listings nearly always include photos, 78% of buyers worry they’re Photoshopped or misrepresent the space. In fact, the buyers polled in September were so confident in 360 tours that 71% said they might purchase a property sight-unseen, a 16% increase since they last asked this question in January. Furthermore, 82% of buyers agreed that 3D tours provide a more accurate representation of a home than photos alone. Baby Boomers showed the best confidence, with 91% of them indicating they feel in this manner.

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Sellers Express More Confidence in 360 Immersive Virtual Tours

With a 3D tour, 83% of sellers now think their home could also be more likely to be purchased sight-unseen, which is an 11% increase within the share of sellers who said this in January. Among sellers who wouldn’t have accepted a suggestion pre-pandemic supported a buyer’s 3D tour alone, 64% would now do so. Almost like home buyers, 87% of home sellers felt that when it involves accuracy, 3D virtual tours better represent their home than photos alone.

What Are the Advantages?

We asked sellers to rank the highest benefits of 3D tours. Sellers identified attracting more serious buyers (67%) and selling their home faster (67%) because the top two advantages, followed by decreasing the amount of in-person visitors (41%), and quoting at a better price (39%). When we asked buyers to rank the highest benefits of 3D tours, they identified the power to look at the home’s plan (75%), visualize the whole home layout in 360, walls, doors, windows, etc. (60%) because the most vital features. once we analyzed the responses to the present question by generation, 73% of Baby Boomers said they might use 3D tours to narrow down which homes fit their needs, compared to 53% of generation X and 54% of Millennial.

360 Tours Give Listings a plus

In May, TIME Magazine reported that”in some cases, buyers aren’t even visiting their new house until after the contract is signed” and “the pandemic has pushed more to think about [purchasing remotely].” And in September, the NY Times declared “the party is dead” and said that 3D tours are “essential to narrow the sector …at a time when pent-up supply is flooding the market and in-person tours remain exclusive.”


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