Estate agent media provider, Giraffe360, is claiming that homes marketed for sale or rental with the use of virtual tours command a price premium of up to 8.5%.
In the sales market, virtual tour properties carry an estimated premium of 5.6% compared to homes marketed without one. At today’s average house price, Giraffe360 says this is a cash premium of £15,648.
In the rental market, the virtual tour premium is an estimated 8.5%, which equates to an extra £94/month in rental income.
Giraffe360 CEO, Mikus Opelts, commented:
“Virtual viewings use complex technology to create a very simple and intuitive user experience and one that brings enormous benefit to everybody involved in the buying and rental markets. They are a genuine moment of evolution for the industry, not just a passing fancy. Before too long, every home in Britain will be marketed with the use of virtual tours.
“Not only are they hugely convenient and impressive, they also bring astonishing premiums. They have an ability to make viewers fall in love with a home to such an extent that they’re willing to pay a little extra to secure it.
Giraffe360’s claims are based on data sourced from The Negotiator, the UK House Price Index, and Homelet.
Comments (10)
Lol, ‘IT’ does not increase a property value! What nonsense. This is another advert!
To play devils advocate.. there will always be a place for sales/lettings negotiators in agency. Technology like as virtual viewings should be embraced – mainly as it is a huge time saver for agents. What landlord/seller wouldn’t want their agent to market their property to the best extent and present it in its best light? Technology is advancing and so should we.
Or perhaps it Is the other way round. ‘Premium’ homes – those that are well looked after and presented – are more likely to have a virtual tour?
where is the evidence
@Paul836
Hit the mail on the head!
He’s avin a giraffe if you ask me…
Prop tech! It’s all you ever hear these days. What gets the best price and most viewings is a strong phone out culture. Get the sales staff to see it first and then phone in out, wet buyers appetite and get lots of viewings over a small space of time to create urgency. That is what gets the most viewings and that is what gets best price. By the time you have done your tour and uploaded it my offices have booked 10 viewings on it!
God forbid our industry picks up the phone these days for 8 hours a day and be proactive. Vocal communication is what a customer wants, listen to clients and stop thinking like estate agents.
Have a great day everyone!!
If it can be said- phone instead!
Agree 100%
Most agents employ admin staff not rel sales people it is no longer a real sales job
Most agents employ people that could be great sales people but have no trust in them. Prop tech is seen as the ‘do it for them’. Plus two many middle management that add no value on a office visit….. on their phones/laptop and then leave. Companies don’t spend time with staff these days doing 121 phone out sessions or creating a phone out culture. Some do, but most not. Behaviour breads behaviour and most running operations could not phone out or convert a val at a good fee for toffee.