Real estate is considered an essential service, but with so many potential buyers following stay at home orders and quarantining during the pandemic, agents are showing properties virtually.
Virtual home tours have grown exponentially in the last few months due to the virus. Before, most would have never imagined even considering purchasing a property sight-unseen, but now a recent survey showed that about 25% of shoppers in recent weeks indicated that they would buy a home without physically seeing it, according to realtor.com.
Realtors are now hiring videographers to produce video content far superior to their still shot photos and cellphone recorded tour videos walking a home. Realtors are seeing the value and paying the extra cost they feel will be worth it.
The pandemic has sped up the use of technology in real estate according to LendingTree, with options like 3D virtual tours, 61% of potential buyers surveyed have toured a home virtually.
53% of potential first-time buyers said they would purchase a home without an actual in-person tour and 18% of repeat buyers said they would be willing to do the same.
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*Closing cost offer available to customers who apply for a new purchase loan. Only available for single family primary residences and existing Caliber customers. Credit provided at closing. The offer is nontransferable and can only be used by the intended recipient. Advertised discount can only be applied toward payment of closing costs up to a total amount of $1,000 subject to product underwriting guidelines. Any portion of the discount amount not used toward closing costs will be waived. |
| **A pre-approval does not signify that all underwriting requirements have been met. Actual terms, including interest rate, are subject to change without prior notice and may vary based on eligibility criteria. All products are subject to credit and property approval. Not all products are available in all states or for all dollar amounts. Please contact Caliber for additional details. |
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| ***The lock will be honored up to 75 days total. Your rate is protected for up to 30 days to shop for a home. Once you identify a property, your rate will be locked for an additional 45 days. All rate lock extensions are subject to Caliber’s standard rate lock extension fees All rate lock extensions are subject to Caliber’s standard rate lock extension fees. Not available for all loan products. Please contact Caliber for additional details. |
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| ****Caliber agrees to pay the borrower the amount of the earnest money deposit (up to $5,000) following the home loan closing, if the loan does not close on or before the contract closing date due to a delay caused by Caliber. Void if there are any material changes to income or assets. Offer requires 30 business days from Caliber’s receipt of purchase contract to closing date. Other requirements include: Minimum 700 credit score, owner occupied purchase transaction. LTV and property type restrictions may apply. Available only through the Caliber Retail Channel. Payment may be subject to reporting for tax purposes. Please contact Caliber for additional details. |
