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The Sunday Times: Essential Viewing: is it Necessary Before Buying a Home?10714

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DanSmigrod private msg quote post Address this user
The Sunday Times (22 December 2019) Essential Viewing: is it Necessary Before Buying a Home?

"In America, up to 20% of offers on homes are made without an in-person viewing, according to a survey by the property broker Redfin, which attributes the rise of “blind” buyers to its use of virtual tours on listings. Not those cheap fisheye-lens shots, but state-of-the-art, immersive, “spatially accurate inventories”, according to Matterport CEO RJ Pittman.

The article attributes the following to RJ. Matterport 3D Tours:

✓ generate 95 percent more calls to agents
✓ 40 percent more site views
✓ 10 percent increase in sales price

Are your real estate agent clients/brokers reporting property sales to individuals that only tour the property via a Matterport 3D tour?

Happy holidays,

Dan
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Shakoure private msg quote post Address this user
@DanSmigrod ... The article requires a subscription. Thanks though.
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WGAN Forum
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WGAN-TV Podcast
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DanSmigrod private msg quote post Address this user
@Shakoure

(You can get the first 30 days free to read the entire article.)

Happy holidays,

Dan
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bryanhscott private msg quote post Address this user
@DanSmigrod In short, yes, required - especially for buyers under 40, who need more of a reason to take their time to schedule a physical visit and spend their money on gas to do it. And, for out of state, or out of country buyers, it's a must have for sure.

The specifications cited make sense, except for the one about folks willing to pay 10% more. The only way that happens is because of some competitive situation, or that the listing agent priced it low to attract more interest, which then drives the price back up to where it should have been to start with.

The buying public is way too smart for starters and if they are represented by a buyer's agent, he or she will never allow that to happen for any other reason than conditions mentioned above. So, the assertion about a 10% premium on properties with a Matterport Tour is not just questionable, it is downright ridiculous. One would have to dissect the empirical data that created that spec in order to take it seriously.

Merry Christmas to all!
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