One-Third of Home-Tour Requests Are Now Virtual

Redfin reported that one-third of home-tour requests made by Redfin customers last week were for agent-led video-chat tours, which is up from less than 1% during the first week of March. 

When taking into account offers signed, 12% were signed by customers who had toured the home they made an offer on through video—double the prior week’s share and up from close to zero at the beginning of March. 

This endeavor, which was first officially put into practice starting March 19, has shown itself to be quite successful and welcomed in the industry. Soon following its debut, on March 27, Redfin followed up by assuring all involved that the app would be strictly conforming to all stay-at-home orders via its publishing of an online tracker that will monitor states and metropolitan areas' ever-changing regulations. 

“Video-chat tours are not only a great way to minimize contact with others during the current crisis, but also a cost-effective way to see homes across town or in a different city," said Redfin Lead Economist Taylor Marr. "Homebuyers and sellers are becoming more comfortable with this technology, which may remain a popular way to view homes once the coronavirus pandemic comes to an end, especially given many Americans may need to relocate to find work.”

Redfin previously reported that it saw a 494% weekly increase in requests for agent-led video home tours. 

As of March 22, 18.9% of tour requests for agents were video-chat tour requests, which is up from 0.2% at the beginning of March.

"The future of real estate has come earlier than any of us could have anticipated," said Redfin CEO Glenn Kelman. "The way things are during the pandemic won't last forever, but at the end of all this, things won't go back to the way they were either. We hope we're well prepared."