Buyers are increasingly relying on video usage in real estate marketing, making 1 in 3 purchases sight-unseen according to the latest Redfin statistics – up from 1 in 5 just a year ago. Are you missing out on speedier sales by failing to take advantage of this increasingly popular marketing medium?
Tight Market & Technological Advances Are Fueling the Trend
A lack of affordable homes has buyers willing to jump in, sight unseen, to snag a home. With today’s technology, they are relying on video usage in real estate marketing and online information on neighborhoods to avoid surprises.
As expected, millennial home buyers are leading this trend, accounting for 41% of recent sight-unseen offers – three times more than baby boomers. To make offers competitive but get some protection, typically the only contingency is an inspection clause in the purchase agreement.
Video Tours & Drone Advancements Make Sight-Unseen Purchases Easier
For those simply unable to view a home in person, such as long distance buyers, as well as those looking to get a leg up on the competition, video tours with the right imagery and information give can give buyers enough confidence to forge ahead without kicking tires in-person.
For long-distance buyers, some are even engaging in live walkthroughs with agents via FaceTime or Skype, engaging in an interactive, Q&A experience to put their minds at-ease.
Video Marketing Tips to Gain Buyer Confidence:
• Enlist a Drone
Tour the neighborhood and offer bird’s eye home views via drone videography.
• Cover all the Bases
Including closets, outside, and mundane things like electrical panels and water pressure.
• Add a Public Service Announcement
“Out-of-state and considering buying sight-unseen? Contact me to arrange a live video walkthrough, or enlist the help of a licensed home inspector today.”