The Corona effect: virtual viewings, digital leases — advantages of digital real estate marketing
For a long time, the German real estate industry was considered to be lagging behind digitization. The Coronavirus pandemic has changed society in many ways, and new trends have emerged in the real estate industry. More specifically, digital marketing has become much more popular.
The current situation requires that adjustments be made in almost all areas of life. Everyone is feeling the effects, both in their private lives and in their day-to-day work. The pandemic has also shaken up the real estate industry. While the bursting of the real estate bubble has so far been absent, the impact of COVID-19 has largely been felt in marketing. Official contact restrictions, strict travel requirements and, perhaps personal concerns of buyers and sellers, have in many cases put a complete stop to traditional viewing. However, this also presents an opportunity to rethink the process of real estate marketing, to become future-proof and future-oriented, and to work more digitally. The industry has seen an unprecedented boom in virtual viewings. With this comes positive side effects for all parties: brokers, sellers, and buyers.
Advantages of digital real estate marketing at a glance
Digital real estate marketing offers many advantages. Among the possibilities are virtual tours of existing properties or photo-realistic renderings of properties still under construction. In the latter case, a true-to-life 3D visualization can greatly facilitate and expedite the buying process. It offers potential buyers the ability to imagine—and get excited by—the project. To arouse genuine interest in buying and increase the chance of purchases, photo-realistic, emotion-triggering images should be favoured over basic sketches and floor plans. Digital real estate marketing is also an efficient tool for existing properties. By offering virtual viewings, real estate agents can serve a much higher demand than if they had to appear in person for every viewing. It is also easier for the real estate agent to handle viewing fluctuations, such as increased requests for appointments on Mondays or at certain times of the day. Ultimately, the seller also benefits from the efficient handling of viewing appointments, as the sale of their property is made much easier. The buyer is able to make many visits in a short amount of time, e without the time-consuming chain of appointments that is often difficult to reconcile with everyday life and their employer. For the real estate agent, web analytics tools then provide a reliable means of evaluating virtual viewings and differentiating tourism from genuine prospects.
In conclusion, virtual viewings are beneficial for all parties involved.. With all these advantages, some people wonder why the German real estate industry did not focus more on digital real estate marketing much earlier. This could be due, for example, to the broker's concern that personal customer contact is an essential part of marketing. While this argument cannot be dismissed out of hand, there are solutions for this as well. For example, it is possible to accompany potential buyers on virtual tours together.
In terms of Internet presence, too, many real estate agencies may be feeling pressure to change as a result of the current situation. Where customer contact and face-to-face meetings are becoming less frequent, some potential buyers will be more proactive in their research. Webinars and support chats are just two examples of how you can score points with digital customer service.. Digital marketing offers countless opportunities here. Professional whitepapers that cover current industry topics, and video marketing, are also great ways to make a good impression online. Bureaucracy can also be improved with digital workflows: Some real estate agencies are already using digital leases here, for example.
Digital real estate marketing in the age of Coronavirus
- Digital marketing and new opportunities for real estate marketing
- Virtual tours of existing properties
- Photorealistic 3D visualizations of properties that are still under construction
- Analysis tools for customer evaluation of virtual tours
- Webinars with several interested parties
- Joint virtual tours with the customer
- Info webinars on real estate purchase or sale
- Support chat for customers
- Offer whitepapers for download