How luxurious actual property firms evolve to fulfill altering demand and shopping for conduct
If we look back on the past twelve months, it is clear that the global Covid-19 pandemic has changed life as we know it in ways we could not have imagined. But it wasn’t all doom and gloom, as many of the adjustments we had to make paved the way for a simpler and more comfortable way of life that is likely to stay here.
While brands and companies have been online for some time, the pandemic has firmly catapulted us into the digital age. Restaurants, cocktail bars, fitness trainers, and healers are turning their offerings to meet the requirements of virtual services. From workshops and webinars to virtual events, we can now access almost any desired product or service at the touch of a button – whether at home, while traveling or in the office.
The luxury real estate market has certainly had to adapt quickly, and as people around the world have continued to transform both their personal and business communications online, it has been important that these high net worth clients are met right where they are at.
The luxury real estate market has certainly had to adapt quickly, and as people around the world have continued to transform both their personal and business communications online, it has been important that these high net worth clients be met right where they are at. Photo credit: Paul Wish
The endless months of working from home and lengthy lockdowns have not only changed the way we consume, but also the way we communicate with the latest on what’s going on. In May 2020 – shortly after the pandemic hit the UK – it was reported that both the delivery and reception of online workshops, webinars and virtual events had increased by a whopping 1000 percent – and that has increased over the following twelve months Number increased continued to grow.
This change in our behavior – which many believe will continue in some form over the long term – has resulted in almost every sector having to adapt accordingly – and the luxury real estate market has undergone some transformation as a result in order to survive this challenging times. In fact, the dramatic shift towards a more digital way of life has opened up a host of new marketing opportunities and the ability to offer an even higher level of service – something that high profile and wealthy customers will undoubtedly appreciate.
As luxury real estate companies continue to look for the latest and most innovative ways to communicate with customers, video production has stood the test of time. This allows brokers to showcase properties from afar in all their glory, and to make distance sales and purchases of homes and estates easier than ever.
Some of the biggest names in luxury real estate have been offering virtual real estate for a while, but the pandemic has resulted in a further increase in the number of agencies using this practice
Some of the biggest names in luxury real estate have been offering virtual real estate for a while, but the pandemic has resulted in a further increase in the number of agencies using this practice. So that potential buyers can enjoy a virtual 360-degree tour of a property and get a realistic feel for the layout, they have quickly become indispensable as a marketing tool.
International luxury real estate giant Sothebys quickly implemented this innovative strategy, strategically placing specialty cameras in all homes to create a transformative method for viewing homes online.
Foreign buyers have long been into virtual reality demonstrations – in a sense, this is nothing new – but the practice is now commonplace with wealthy real estate buyers and may well stay here thanks to the convenience it offers.
Virtual open day
Open houses, where a property is usually open to viewings for several hours to accommodate all prospective buyers, are widespread in the luxury market and offer realtors the opportunity to perfectly design homes to showcase them in all their glory a quick sale and securing the right price.
With conventional events like this one, which largely fails to adhere to social distancing guidelines and the rule of six, real estate companies have had to think quickly to ensure that business can continue smoothly.
The answer? Virtual Reality Open House that allows 360 degree live pass-through online and allows a large number of potential buyers to tune in at the same time. Not only do they save time, but they also give agents the ability to showcase a property as they would in real life – an experience that often cannot be recreated on individual viewings.
Companies like Million Plus, Christies and Strutt & Parker have all used this valuable marketing tool and as a result reported increases in national and international sales.
For customers looking to buy larger properties, drone video provides a bird’s eye view and has many benefits for both busy agents and buyers
For customers looking to buy larger properties, drone video provides a bird’s eye view and has many benefits for both busy agents and buyers. For those who can’t get to see in person, drone footage can be shared virtually so they can do it remotely – be it the comfort of their sofa during lockdown, while traveling or in the office.
Spending several hours walking on a large property is often inconvenient for prospective buyers short of time, and when you add bad weather to the mix, even more so. It’s easy to see why drone material has become an indispensable tool for the luxury real estate market and will almost certainly stay here.
When looking for new customers, most companies use social evidence to demonstrate their skills and expertise. Video testimonials from past or current customers have become an efficient and effective way to showcase their excellent customer service and proven results, and to instill a level of confidence that written testimonials simply cannot.
The final result
There’s no denying that the luxury real estate market has firmly entered the digital age, and the shift has made communicating with customers easier and more effective than ever. Technological innovations in video have transformed the experience for potential buyers, and this rapidly adapting sector has managed to successfully weather the storm that has accompanied the global pandemic.