How Virtual Services Are Helping Estate Agents Prosper During Lockdown
Last week we launched our (free to download here) Guide to Implementing Virtual Tours for Estate Agents and already we’re seeing Agents from across the country use it to boost their presence and delight their customers during this difficult time. It’s a comprehensive guide including a checklist for Vendors to walk them through the whole process from planning & preparing for a virtual tour, right through the tour itself and how to follow up with viewer & vendor.
As part of our follow up & research we spoke to Matthew Wood, Sales Manager for Alexander & Co in Aylesbury about life & business during this time and how he’s not just keeping things ticking over but adjusting his processes & introducing new virtual services to keep business flowing and preparing for the time when restrictions will be lifted;
There’s some positivity in the market at the moment although customers are being influenced by negative stories in the media. Matthew’s speaking to his customers on a regular basis, lots of this has been basic social interaction, “how are you, how are you coping with isolation” etc but he’s also sharing good news stories; general news and specific market related news of continued enquiries, requests for viewings and market statistics (e.g. the rise in portal activity), he’s finding people are generally receptive and positive. He’s even helped one vendor design a new garden - all ready for when viewings will be allowed again!
Alexander & Co are still open, operating from home and remaining pro-active, unlike some Agents who are ‘on-pause’, they’ve adapted to the current situation and staying in touch with their customers as well as the market.
“We’ve a resurgent market with lots of pent-up desire to rent & buy”
Alexander & Co are recording lots of interest in specific properties at the moment and planning for when they can follow up this interest with open-house events and new listings.
We discussed the increase in online activity over the last week or two and Matthew feels this is driven by a number of factors. Undoubtedly there’s some boredom driving this, people idly browsing at home, but also people discovering they need more space or want to be closer to family etc. With some glimmers of good news (maybe a peak in new Covid19 cases last week & progress on a vaccine) people are starting to think about “what’s next”.
With regards to virtual viewings specifically, Matthew has carried out over a dozen viewings via Zoom. Potential buyers have been apprehensive to begin with, due to a whole new process but they’ve ultimately liked the experience of seeing the property, the surroundings and the feeling of walking through the property and seeing it whole. A key to success has been making the viewing a 3 way conversation, with the agent having the floor plan & brochure available, the Vendor explaining what they like most about their home, why they made any changes and also being able to keep a conversation flowing as the viewing proceeds.
Virtual viewings are allowing Alexander & Co to line up a funnel of potential buyers and encourage the on-going interest in properties with a view to promoting a ‘re-launch’ post lockdown with open-house events and following up with viewers. The viewings have fitted in well with existing sales processes, invitations have been sent out in advance and even new Zoom users have found it an easy process to follow.
Buyers’ responses on the video calls have been interesting, more courteous but honest. Participants have enjoyed the social interaction and Matthew has noticed they ask more open questions, leading to much more conversation than may occur during a physical viewing.
And the feedback post viewing has been almost exclusively the normal questions potential buyers ask, not problems with the virtual viewing process itself.
Is there a place for virtual viewings in the future, post lockdown?
It seems so. Like in any period of uncertainty, technology not only develops but becomes accepted faster and now virtual viewings have become ‘a thing’ there are lots of examples where they might make things faster and more efficient in the future.
“This has really taught us something”
The example Matthew uses is the buyer travelling to a new area for a weekend of viewings. Normally they would want to see all the properties in a particular price range in a certain area, maybe 10 - 15 properties at a time. Having virtual viewings to see before making the trip gives them more constructive, decision supporting information, has the potential to save everyone, purchaser, seller and agent lots of time & effort. Going forward Alexander & Co will be looking at incorporating video into their listings, they think they may see a drop in views but buying decisions made quicker. The Coronavirus period may prove to be as transformational as the introduction of digital fifteen years ago.
Now’s a great time to try out new processes & technology, we’ve all been pitched into new experiences, self isolating, working from home, using Zoom, virtual viewings and everyone’s a little more tolerant and patient!
So what are Matthew’s top three tips for introducing virtual viewings?
Do it, now’s a great time to introduce a new service and assist all parties in the sales process.
Plan in advance, make sure Vendors prepare their homes and help them practice their video skills in advance of the appointment.
Keep it professional.
Time will tell just how effective virtual viewings and video conferencing will be in the future housing market but it’s safe to say, right now, there’s a real appetite to try new things, to stay in touch with customers, to continue to provide value and maintain interest, ready to push marketing again when the time is right.
If you’d like to introduce Virtual Viewings or improve your current process you can download our comprehensive Guide to Implementing Virtual Viewings here.
If you’ve got experience of offering virtual services, good or bad or have any comments please let me know in the comment section below, we’d love to hear from you.
You can find Alexander & Co online here