What's your strategy for sight-unseen offers?
October 25 2018
Increased demand in growing, fast-paced markets has caused homebuyers to take action. With many homes going under contract within the first day of hitting the market, the number of sight-unseen offers is growing as inventory continues to tighten.
While buying sight unseen isn’t unusual for real estate investors and foreign buyers, evolving technology has made “buying blind” even more accessible for traditional buyers seeking a primary residence.
Have you incorporated this tech into your real estate business?
Enhance Your Listings With Remote Technology
While professional photography is a staple for real estate listings, buyers expect more when viewing remote properties. Interactive virtual tours can give buyers a sense of control over the viewing process by allowing them to move at their own pace and come back to specific points of interest. In addition to using tools like Google Street View to help buyers get a feel for the location, be prepared to offer Skype and FaceTime tours for buyers interested in seeing specific details of the home.
For maximum effectiveness, virtual tours should be intuitive, use actual footage of the home and be compatible with the latest mobile technology. Remember to highlight the unique features of the property, including outdoor areas and the neighborhood, if possible.
Put Contingencies in Place for Buyers
While buying sight unseen is becoming more commonplace, buyers are still taking a huge leap of faith. Adding contract contingencies can provide a much-needed safety net. That said, it’s important to remind buyers that too many contingencies can be off-putting to sellers, especially if there are multiple offers.
Today’s homebuyers have adopted an online buying attitude. By optimizing your listings for the sight-unseen buyer, you can make the process easier for buyers and sellers alike.
Have more questions about sight-unseen offers? Get in touch today.