Real estate is changing and no one is looking back. I see this as an opportunity because my business model is already utilizing technologies that the real estate industry is demanding. VIDEO, 3D MATTERPORT, SOCIAL MEDIA EXPOSURE, etc. This has been regular routine for years now. I also own all the gear and shoot everything myself so there’s no delay in creating this media.
Here’s a 3D matterport example
Real estate is a service industry and those agents offering more services will be the ones that thrive in these challenging times. As well, those agents will be looking for creative partners who not only offer professional photos and videos, but who offer more services that allow potential buyers to view a home utilizing technology.
Being a real estate agent for 17 years, I’ve seen first-hand how technologies have transformed the industry and my business. For those of you who don’t know, I’m also a creator and I use video extensively to boost my business. I see firsthand, the growth of my business directly correlates with the use of these technologies. It’s my philosophy that to be successful in an over-saturated market, one needs to elevate their game and offer more relevant services than the competition. In real estate, this is no different but when the market tightens, or the industry changes like it is TODAY, the cream rises to the top.
The real estate business is OPEN. But some states are not allowing “showings” or “open houses.” So, without showings, how can the real estate business continue? Well, this is where opportunity occurs.
With Covid-19, real estate is pivoting rapidly. The buzz is “virtual tours” or “virtual open houses.” It’s all about bringing the home to the buyers. This is not a huge shift for some progressives within the industry. As many of us know, many agents have been utilizing these tools for years now. But with the current health crisis, these technologies have become mandatory to sell a home. It’s highlighting technologies like video, 3D Matterport tours, or even Facetime or Zoom “open houses.” More importantly, it’s educating the general public to expect more from the real estate community – to be able to accurately see, understand and transact real estate remotely. This is important in our current situation, but also into the future, when buyers will appreciate the ability to do a lot of the pre-work of viewing properties remotely prior to, or even all the way through closing.
So, in today’s real estate market, agents are scrambling to get videos made, to get Matterport 3D tours of their listings, many are even pulling out their smartphone and shooting videos for social media. Whatever it takes to get noticed in the market today, many agents are playing catch-up. That said, I can’t overstress the importance of quality. A professional real estate video that not only tells a story, but is visual appealing and draws buyers in with emotions will go much further than a walk-through shot on an iPhone.
I also believe there will be a new wave of technologies directly resulting of these real estate industry changes.
When we emerge from this pandemic, the real estate industry will have progressed forward. The “new normal” for real estate will be a lot less driving around viewing homes and a lot more of the preliminary efforts being done online. What if every home for sale had a 3D tour and a personalized video? Utilizing these tools will not only save time, but will help streamline the efforts for buyers and sellers and improve the overall experience.
The effect Covid-19 is having on the real estate industry is profound. But more importantly, it’s educating the public of these marketing tools and going forward, sellers will demand these technologies be used to market and sell their home. And buyer will begin to expect to see these technologies being used when they browse for homes online. We are not looking back. Real estate is undergoing changes daily and it’s time to adapt.