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How Real Estate Agents are Using Virtual Open Houses and Tours During COVID-19

How Real Estate Agents are Using Virtual Open Houses and Tours During COVID-19


How Real Estate Agents are Using Virtual Open Houses and Tours During COVID-19

Over the last two months, we’ve seen an incredible effort by businesses across every sector to pivot to accommodate customers in a way that’s respectful of the coronavirus pandemic. From restaurants offering delivery and curbside pickup, to professionals offering online courses and classes to keep students engaged; the real estate industry is no different.

Throughout the COVID-19 pandemic, Realtors have looked to find new ways to connect with buyers and sellers while not being able to physically connect with them. In an industry that relies heavily on the personal relationships Realtors develop with their clients, everyone’s having to adjust on the fly. A recent National Association of Realtors flash survey found that 45% of member agents who work in residential real estate reported that COVID-19 has not changed buyer interest in the market, and 69% said that it has not affected the number of homes on the market. One of the ways Realtors are keeping the market active is through the use of virtual open houses and tours.

How to Host a Virtual Open House

Thanks to platforms like Zoom, Facetime, and Facebook Live, Realtors have plenty of options to host open houses digitally. Zoom, the popular conference call service, offers a mobile app that can allow an agent to walk through a home while broadcasting video and speaking to attendees. Unlike Facetime, which works best for individual tours, or Facebook Live, which works best for larger public tours, Zoom can host almost any group size, by invitation only if desired, and allows for two-way communication, or simply a one-way broadcast mechanism.

All three platforms can be used on a mobile device, making it easy to broadcast on the go and interact with those on the other end.

Promoting a Virtual Open House

Virtual open houses provide an opportunity that traditional open houses don’t; for anyone to attend. Using Facebook Live, anyone can view the video and comment or share the video, expanding your visibility and reaching those that may not be able to attend a traditional open house. While not everyone who attends will be in the market, the ability to reach more viewers should not be missed.

Accessing Additional Marketing Opportunities After the Open House

Another added bonus to hosting a virtual open house on a platform like Zoom is that Realtors can collect lead contact information that can be used to send follow-up emails and correspondence after the open house is over. This email list can be used for your eNewsletter or for advertising targeting on Facebook.

Matterport

Matterport not only gives agents a way to differentiate as being tech-forward, but also build a brand as a real estate professional. From building a brokerage based around a 3D tour proposition to recruiting and retaining the best agents, the Matterport platform is a powerful tool for Real Estate business.

As with any change in the market, Realtors that are willing to adapt and embrace new ideas and tactics will ultimately find greater success and opportunity. Hosting virtual open houses is a great way to continue to connect with buyers and sellers, while keeping everyone safe during the pandemic.

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Mortgage Investors Group, based in Tennessee, offers residential financing in a number of states in the southeast, See MIG Service Areas. Terms and conditions to apply to home financing. We want to share with you the loan terms vary based on several characteristics and your financial profile. These include but are not limited to loan program, loan purpose, occupancy, credit history, credit score, assets, and other criteria per loan type. The repayment terms and interest rate may vary from time to time. The terms represented here are based on certain assumptions outlined below and/or noted on the loan outline page. Additional details concerning privacy, program disclosures, licensing specifics may be found at migonline.com Legal Information.

MIG Loan Officers will help gather the information needed for an individual assessment to provide home financing which matches the loan characteristics with your home financing needs based on your financial profile, when you are ready to begin a full loan application. For estimates and general information before that step, the basis for which the mortgage financing information are as follows:

  • Rates are subject to change at any time.
  • Rate locks are available at current terms for 30 to 180 days based on program type, credit profile, property location, etc. which will affect the available rate and term.
  • Rate locks are available at current terms for 30 to 180 days based on program type, credit profile, property location, etc. which will affect the available rate and term.
  • Payments will vary based on program selection, current rates, property location, etc.
  • Not all programs are available in all states.
  • Some loan programs may not be available to first time home buyers.
  • Terms and conditions apply, which may include restrictions or limits per loan program.
  • Information is generally based on primary residence occupancy with no cash out when refinancing.
  • Unless otherwise stated, terms shown are estimates based in part on credit score of 700 or higher; owner occupancy, escrow account is established for taxes and insurance(s); debt-to-income ratio no higher than 43.0%; PMI applies to conventional loan programs over 80.0% LTV; VA,FHA & RD require insuring fees included in loan and/or payment; fixed rate, 30 year term.

An MIG Loan Officer is available to help with your financial details to determine which characteristics apply to your situation for a personalized look into which loan program best fits your home financing needs. Please use the Find a Loan Officer link or reach out to Mortgage Investors Group at 800-489-8910. Equal Housing Lender 1.2020