Technology Will Lead Way For Housing Market Changes

virtual tour

Technology Will Lead Way For Housing Market Changes

At Anthony Jones Properties, we know many people aren’t planning on buying or selling property any time soon. However, we also know a lot of people have more free time, and this is a suitable time for reflection, or in planning what you will do in the future. You will also likely use more technology at the moment.

As you would expect, we are monitoring the housing market closely. If you have any questions about changes, please contact us. We believe this will be a time of change for the housing market, and in line with recent Government advice, it is likely technology will be integral to the development of the property industry.

Where we are in the property market

Government advice to the public concerning house moves centres on:

  • Homebuyers and renters should, where possible, delay moving to a new house while measures are in place to fight coronavirus (COVID-19)
  • Our advice is that if you have already exchanged contracts and the property is currently occupied, then all parties should work together to agree to a delay or another way to resolve this matter

The Government has also mentioned virtual viewings, and we believe this is a topic which will come to the fore from this point forward. We already acknowledge the importance of video content, but you can expect this style of content to feature more prominently.

There is a significant demand for video technology

One of the biggest changes going forward will come in the way people work and connect. Remote working will become more commonplace. As people grow more confident with live video chat and real-time video connectivity, working practices will alter. Also, consumers will feel more confident in utilising this technology.

Some of the ways estate agents, buyers and vendors will see a change in the market relates to:

  • Live “open house” sessions
  • Question and Answer sessions
  • Video walkthroughs of a property
  • Virtual video tours

Change can be a daunting prospect, but it is fair to say the property market has evolved considerably in recent times. The market has proven itself to be robust and capable of adapting quickly. The emergence of online property portals has enhanced the buying and selling process for many, and improved video options will further enhance buying and selling.

There is a good chance that more buyers will insist on seeing video tours or walkthroughs of a property before they commit to a viewing. Conducting an open house via video link will help present your home to more people. Increased use of video technology may reduce the number of actual viewings a vendor has to offer, but it should ensure there is a more substantial level of buyer intent with each viewing.

If you are looking for help with any matter of the property market, it is best to speak to property professionals. No one knows for sure what is going to happen next, so we won’t claim to have all the answers, but the Anthony Jones team is keen to help you as best we can. If you would like to contact us over housing matters, please do so today.