Looking for a new home is a marathon. Potential tenants/ buyers can easily spend hours scrolling through property search websites. However, they’ll quickly click off a property if they aren’t able to get a good idea of how the inside of the home looks.
Photos are great, but in an age of higher demand and snap decisions, you should be doing whatever you can to make your property appeal to people at first glance. Potential tenants and buyers love to get an accurate picture of what the property is like, so virtual tours can be an excellent way to stand out from the crowd and pique interest straight away.
Increase Engagement With Virtual Tours
Research shows that people are 300% more engaged with a virtual tour than they are with 2D imagery. In such a competitive market, it pays to create a connection with buyers/tenants. If they feel like they’ve had an unlimited amount of time to look around every room, they’re more likely to form a connection and choose to offer.
Tours Add Value
On top of being more engaged, a study by TwentyCI found that properties that have virtual tours in the listing sell for around 5.6% more than the same property without. When looking at the rental market, landlords can expect to see an average of an 8.5% increase in monthly rental income when a virtual tour is included in the listing.
Bigger Houses = Bigger Impact
Studies have shown that virtual tours become even more important for higher-value properties. With so much to see in larger or more luxurious properties, it’s easy for potential buyers or tenants to miss something when they take a tour of the property.
Having a virtual tour to look at not only has the potential to increase the number of people interested in viewing a property, but also gives them the ability to look back and double check things that they’ve seen. This could encourage them to make an offer.
Tap Into Buyer Emotions
Virtual tours make it easy for a potential buyer or tenant to view your home again and again, meaning they’re able to connect with it more and feel more of an emotional impulse towards the property. Virtual tours also make it difficult to hide anything – yes, this can represent a challenge for the vendor, but it gives the viewer a sense of transparency and trust that reassures them when they decide to put in an offer.
What Difference Can Virtual Tours Make To Property Listings?
As of January 2022, the average UK home costs £274,000. With the increase in value that a virtual tour adds to the final selling price, a home worth £274,000 could fetch an additional £15,000 for a final value of £290,000!
The average UK rent, as of April 2022, was £1091 per calendar month. Studies have shown virtual tours can increase the perceived value and rent price by as much as 8.5%. This means that the average UK rental property could expect to see an extra £100 PCM added to their income.
Virtual tours present their own challenges. Vendors need to ensure that their property is looking its best because 360 tours leave nowhere to hide. However, for landlords or sellers that are willing to bare all, virtual tours represent an excellent way to improve your property’s value.
If you want to increase the views and value of your property, Assessment Hive can help with professional, high-quality virtual tours. We’ll work with you to help craft an attention-grabbing video that gets noticed and attract more prospects to your property. To find out more about our property marketing services, get in touch with our team today.