Posted on Monday, July 5, 2021
In the changes we have endured of late, there have been significant changes in the housing market. Virtual viewings are now an integral part of the property market, with buyers scouring videos before arranging physical viewings of a property.
As you’ll see in the figures below, it appears as though the nature of property viewings have changed. Previously, the physical viewing stage was essential, a time when buyers would scour a home for any small detail that might influence their final decision.
Now, it might be argued that prospective buyers do the majority of their search work online, only visiting a property for final confirmation before making an offer. A study by U-See Homes highlighted many issues in the housing market when it comes to buyers looking for a home.
With more than 80% of respondents requiring no more than two viewings to commit to making an offer, the physical viewing is a smaller part of the process.
For vendors, this should be a warning of how important it is to ensure your home looks fantastic in photographs and images. If buyers are now virtually convinced of a property’s merits before they step foot inside a property, you need to present your home in the best manner.
Presenting properties to connect with buyers is an area we specialise in, and we will ensure your home is ready to connect with buyers.
Not only are prospective buyers visiting property on fewer occasions, the length of visit is also shorter. The study indicates:
Likely, the impact of the pandemic, with people being less willing to spend time in other people’s homes, has influenced this. Still, again, the impact of video viewings makes physical viewing a smaller component of the overall search.
A physical viewing provides the buyer with confidence that everything is in place and fits with the perception created by images and videos online. Physical viewing remains important, but the initial connection is growing in importance, and this is where we can make a difference for you.
Of course, you shouldn’t connect fewer viewings and shorter viewing times with buyers caring less about a property. With online content, prospective buyers can consider more homes. The study also found that many buyers review a lot of property before narrowing down their options, arranging a physical viewing:
Simon Dempsey, U-See Homes, says: “We know that homes are going under offer incredibly quickly in current market conditions and we’re now starting to see a shortage of stock entering the market to satisfy the overwhelming buyer demand spurred by the stamp duty holiday. Homebuyers themselves are also acting at pace, with the vast majority taking just one or two viewings before making an offer and rarely spending more than an hour or two in the process. However, the majority are also viewing a number of properties before they discover their perfect home and while viewing times are brief, they can certainly start to add up when travelling from one house to the next.”
Simon Dempsey concluded by saying; “It’s clear that the wider availability of guided virtual tours could certainly help in this respect, reducing the need to view homes unnecessarily and saving a considerable amount of time for both homebuyer and agent alike.”
When you are looking for specialist support in selling or letting, choose a local agent who listens to their clients carefully and takes pride in providing the utmost in customer care. We appreciate these are challenging times, but if you have any property market questions, please feel free to contact Aspire Sales, Lettings & Property Management, and we will do our best to assist you.