Purchasing a property in a virtual world

Ronald ChanSponsored
Finbar Chief Operations Officer Ronald Chan.
Camera IconFinbar Chief Operations Officer Ronald Chan. Credit: The West Australian.

Technology in terms of advertising, selling and inspecting properties has certainly come a long way since the old days of lineage ads in the property section of the daily paper that were the norm more than 15 years ago.

These days we are operating in a truly digital world where everything is searchable and where most people prefer to conduct their research up front and online before they come close to signing a contract.

Throw a global pandemic into the mix and the reliance on virtual technology to showcase a property becomes even more crucial, whether you’re looking to buy or sell.

And with property markets across the world booming, despite the economic uncertainty the pandemic has unleashed, it seems highly likely that the reliance on a virtual sales toolkit will continue as markets and industries continue to adapt.

For many years now, even before the pandemic took hold, those selling property have relied on virtual technology to give buyers an accurate impression of a property before they walk through the door or the first shovel load of dirt has been displaced.

Agents have quickly adapted to the changing pace of technology, using FaceTime to virtually walk potential buyers through a property – a critically important tool for buyers located or stuck overseas looking to purchase in the local market.

In situations where one buyer may be located in Perth and another interstate or overseas, digital technology to showcase a property becomes even more important.

Virtual walk-throughs are often a time saver and necessary first step, even in markets where travel and home opens remain unrestricted.

Equally, a digital tour can prove a handy time saver, revealing an unsuitable layout or floor plan or a neighbourhood that doesn’t suit your needs before you’ve even left your house or stepped behind the wheel.

For apartment developments being sold off the plan or while under construction, substantially more time and money is being directed into technology.

Three-dimensional artists’ impressions are designed to immerse the buyer in the property and digitally replicate the finished product, with animated fly-throughs now almost a standard part of the sales and marketing repertoire.

Most developers now offer three-dimensional walk throughs of completed apartments as part of their regular sales and marketing tool kit, giving potential buyers a bird’s eye view of their potential new abode. The same can be done for a development’s communal amenities so buyers can gain a glimpse into the lifestyle they might enjoy, if and when they sign up for purchase.

For high-rise developments, the outlook from upper balconies and the recreation of a future view can prove to be a crucial selling point. Drone technology is also in common use in situations like these where we can set a position and location to pin-point the view from a particular apartment, giving potential buyers sense of what the outlook from their future home may look like.

As our borders open up, immigration resumes and the number of expats returning home continues to climb, the reliance on technology as a critical means of viewing your future home will only grow.

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