No one could have predicted the way 2020 was going to change the way we do things. The COVID-19 pandemic brought with it a level of uncertainty and a few bizarre risk adverse habits – looking at you, toilet-paper hoarders – that will stay with us for years to come.
However, the global pandemic also introduced exciting new challenges and opportunities, pushing people to adapt swiftly to the new reality or get left behind. This was no different in the Real Estate industry.
The global shift from in-person to isolated engagement meant Homeseekers and Real Estate Professionals alike had to reconsider the way they do business. In this industry, it’s no secret that building personal connections and levels of trust with both vendors and potential buyers is imperative to a successful sale. Luckily, the shift into the online space was already happening, with many in the industry already using livestreaming technology to engage an audience at scale.
Real-time virtual property inspections were already recognised and used by the Real Estate industry prior to the COVID-19 pandemic – consider, the international buyers market or rural interest. However during this time, the adoption and use of livestreaming technologies has been greatly accelerated. The public is recognising the importance of livestreaming when looking to buy a property, whilst Real Estate Professionals are becoming increasingly aware of their online presence and ability to access a much larger audience, regardless of their physical location.
As restrictions begin to ease around Australia this doesn’t necessarily mean everything will revert back to normal, in fact, here are 3 reasons why we believe virtual inspections are here to stay:
1. Livestreaming offers personal and considerate engagement
In the wake of recent lockdowns and social restrictions, new levels of anxiety have been introduced to the public. People have become increasingly paranoid about their personal space and general levels of cleanliness. Although community transmissions continue to decrease and restrictions around Australia are slowly being lifted, the feeling of uneasiness when someone stands slightly too close behind you at the Woolworths check-out remains.
In the spirit of encouraging engagement and the building of trust between Real Estate Agent and client, their preferences in regards to in-person viewing should also be considered. Vendors, in particular, have a preference for only ‘pre-qualified buyers’ to be invited to physical inspections – understandably, it is their own home. Offering the option of livestreaming to clients demonstrates the Agent is considering their preference directly and will build trust. This also gives the power back to the Agent, ensuring they remain an integral part of the property transaction process in the face of countless new technological advances.
2. Conveniently accessible for those leading busy, millennial lives
Livestreaming opens a property up to anyone with an internet connection, increasing market reach for the Agent and maximising the convenience for Homeseekers. For many people, lockdown introduced new ways of working, socialising and getting the most out of your day. Multitasking around the home, in front of a laptop or even out and about is now the norm, meaning people are looking to do more and offering an alternative way to view a property from any device at any location enables this.
From an Agents perspective, being able to reach new clients and invite and privately engage with existing clients in the same interaction is incredibly powerful, convenient and time efficient. Further to this, with Home Live, viewers equal leads as all the information on the viewers is captured as they tune in – no more running around after inspection walk-ins with a pen and a clipboard, thank God!
3. Efficiency is at the heart of the product
Efficiency and usefulness sit at the core of every Real Estate tech development as those in the industry are well aware of how time-poor these professionals can be, livestreaming with Home Live is no different. Livestreaming acts as an engagement point for any Homeseekers looking for a property but are not entirely committed to attending a physical inspection. By ensuring the leads are qualified before proceeding to an in-person inspection, both the Agent and Homeseeker are saved many hours of potential home viewing, thus reducing the time a property is spent on market and increasing the overall efficiency of the transaction.
Here at Home Live we understand the Real Estate tech-revolution will continue to change the way Agents do things. But we are working for a solution that will be powered by the Agents themselves, not one that will replace the human aspect of home buying. We believe the value of livestreaming will continue to be seen throughout the industry and will be an imperative inclusion in every Agent’s sale toolkit moving forward.
Have any questions, ideas or feedback? Let us know at firstname.lastname@example.org