When selling your home, marketing and technology are the keys to selling fast and for top dollar. If you think this simply means posting a few photos on a Zillow listing, it's time we get you up to speed.
New technology - and the large slice of home buyers using it - has changed the game. And it's not just millennials.
If you're not embracing these four cutting-edge innovations to help you sell your home, you could be missing out on a huge opportunity.
Having strangers traipse through your home may sound like a normal Saturday night party if you're in your early 20s. But, as we get older - and start to own nice things like houses - the thought isn't exactly thrilling.
Enter: Virtual reality.
While 360-degree video walkthroughs of listed homes have become quite common in real estate, many companies are now able to offer 3D virtual tours that offer immersive visualizations in high resolution. With virtual reality, potential buyers can get a feel for your home, “sit” in your living room, and explore your expansive kitchen from their phone, tablet, or computer - all without ever having to actually set foot in it.
You'll increase your buyer pool - including those in the global markets - since those interested can tour the home whenever and wherever they want.
Plus, you won't have to deal with the headache of keeping every square inch spotless while your home sits on the market. Not to mention, your real estate agent will appreciate not being stuck at an open house every Sunday. It's a win-win.
Especially with larger properties, drone footage can help buyers gain a better understanding of the lay of the land they're thinking about buying. Plus, it can help emphasize stand-out amenities like pools, landscaping, nearby golf courses, or water features.
For less than $400, you can hire a company to film an aerial drone video so prospective buyers can get a feel for your home and the surrounding area. Pair this with a 360-degree video walkthrough and you'll have a stunning, professional listing that will draw in plenty of buyers.
While virtual reality allows you to see what's actually there, augmented reality adds to it. Potential buyers can point their phone's camera at the living room and swap out images of furniture and wall colors until they find their style.
Augmented reality also easily communicates home information to a prospective buyer by overlaying details about listing price, square footage, or the number of bedrooms and bathrooms on the real-time image of the home. Agents can also add notes or highlight the key features of a property.
Staging a home has proven to sell it more quickly and for a higher price. 83% of buyer's agents say that staging makes it easier for buyers to “visualize” the property as their future home, according to the National Association of Realtors' 2019 Profile of Home Staging. Additionally, 44% say that staging a home increases the dollar value offered, and 53% say it decreases the amount of time the home is on the market.
But there's always a catch. Professional staging can come at a high price tag, especially if the home sits on the market for a long period of time. Stagers generally charge $300 to $600 for the initial consultation, plus $500 to $600 per month per room. Virtual staging, on the other hand, digitally stages your home at a fraction of the cost - on average, a one-time fee of $200 to $400.
Virtual staging allows you to create the illusion of a lived-in space by digitally altering a photo of an empty room. While results are usually barely distinguishable from a physically staged home, best practice is to note that the images were virtually staged and provide the real photo in the listing as well. Buyers may be turned off or feel misled if you don't make this clear and they walk into your open house and see an empty home.
Not only does virtual staging save you cash, but it also provides lots of flexibility to change decor and furniture based on the prospective buyer. You may change the staging simply if the listing isn't performing well or you're seeing a large influx of a certain buyer type you weren't expecting - for example, young professionals when you were expecting families.