SA property sales see a rise in virtual walk-throughs
Virtual walk-throughs are the next big thing in real estate because they make it easy for potential buyers to view a home when they can’t see it in person.
With technological advancements and changing consumer preferences, traditional property viewing and sales methods have given way to innovative approaches, chief among them virtual video tours.
The rise of virtual video tours is attributed to several factors, each contributing to its growing popularity among sellers and buyers.
When the tech was first introduced in the SA real estate space, Adrian Goslett, the regional director and CEO of RE/MAX of Southern Africa, said there was not as high an adoption rate as today.
“It took something like the pandemic before the virtual tour really took off,” he notes.
These days, most property listings will have either a walk-through video or a 3D tour available. To understand why virtual tours have become more widely used, RE/MAX of Southern Africa shares some reasons behind their popularity.
Cross-country buyers
Ever since the pandemic, the semigration trend has continued to drive sales across the country, but not all cross-country buyers can travel to a new province to view a property in person. A virtual tour helps buyers get a feel for the layout and size of the home without having to walk through it physically.
More tech-savvy buyers
More and more millennials and even older Gen Zs have entered the property market. These buyers are much more familiar with video technologies and far more likely to interact with these options than the generations before them. High-speed internet and mobile data have also become more widespread and accessible, making it easier to view virtual tours.
Convenience
In our fast-paced world, buyers have less time to waste on viewing homes they might not like. A virtual tour gives the buyer more insight into the house’s offerings before they invest the time to visit the property in person.
According to Goslett, using virtual video tours in SA’s real estate industry represents a significant paradigm shift with long-lasting implications for how properties are marketed, viewed, and sold.
“While traditional methods of property viewing will always have their place, virtual tours offer additional value more suitable to the evolving preferences and lifestyles of modern consumers,” he states.
“As technology advances, we can expect virtual video tours to become even more popular. In this dynamic landscape, embracing innovation and leveraging digital tools will be essential for staying ahead in the competitive real estate market,” Goslett concludes.
