Residential property in a post-lockdown world
Estate agents are fighting back, using technology such as 3D tours to strengthen their traditional appeal and giving a navigable ‘doll’s house’ view of homes, which shows the property with external walls removed.
Buyers view the home from various vantage points, marked by circles on the floor, from which they can pivot through 360-degree angles and click on points of interest for more information.
One of the advantages of 3D tours is that they allow prospective viewers to look through properties virtually with the agent and then decide which ones to see in person, increasing transparency and efficiency for agents. For sellers, the need for viewings in person is considerably reduced, so they don’t have to allow 20 people into their home!
Technology goes mainstream
At the same time, the technology behind virtual tours is becoming more sophisticated and accessible. Up until now the technology has been regarded as useful for super-prime properties likely to attract overseas and foreign buyers, but now many in the property industry are investing in it.
Knight Frank are using a highly advanced system called Matterport that gives you a 3D virtual walk-through from room to room, including a 3D plan of your property. This proved to be perfect for lockdown and resulted in a number of sales across the firm both locally and from the international market as well.
However, not all virtual viewings require 3D technology. During lockdown Knight Frank clients conducted live viewings through platforms like WhatsApp and FaceTime. These worked particularly well and buyers benefitted from having a live commentary by the owners themselves.
Research from Foxtons shows that when viewing a property online, buyers decide within just eight minutes if they wish arrange a viewing:
- Over 75% of house hunters also said they were irritated with properties that did not match up to their online listing.
- Virtual tours can help properties to sell five times faster than traditional imagery.
- Properties listed with 3D walk-throughs can also achieve as many as four times the number of enquiries and generate 49% more leads.
- Prospective buyers are more likely to trust a 3D tour that they can navigate themselves, which has true-to-life representation, rather than a series of traditional images or a video created by the agent.
Read more from this edition of Ahead of the Curve
Table of contents
Practical Futurist Andrew Gril looks at the new normal and how technology can be used to effect lasting change as we return to work.
The challenge for restaurants has rarely been greater; with the rise of app based delivery services and now coronavirus, how can the leisure and hospitality sector adapt to survive?
How is the new normal going to impact on how and where we work. Our real estate team looks at how the new role of the new office is having to change at a rapid pace.
Our regular feature looks at the workforce of the future. How has the coronavirus lockdown impacted on how we all work? And what will this look like going forward?
Graphcore are a company to keep an eye on. We spoke to Nigel Toon, CEO of Graphcore – a Bristol business which brings Brunel spirit to a modern problem.
The health and social care sector has been at the epicentre of the coronavurus pandemic. Will this solution keep residents safe, whilst managing their need for social interaction?
Video conferencing has been one of the heroes of lockdown. From social quizzes to board meetings – but people who have experienced a brain injury may find VC challenging…
The book review – The new long life. Our regular book review feature, this time we look at The New Long Life, a book that looks at the challenges and opportunities of longevity.
Coronavirus has moved the concept of climate away from the front and centre of many peoples minds, but should we be taking this opportunity build back a greener future?
In our regular feature Leading Edge, a selected charity is offered exclusive access to the back page of our magazine, this month it is CESA, the cauda equina syndrome charity.