Sometimes, the best ideas are conceived as solutions to challenges we face in our lives. Through innovation, creative thinking, and the drive to keep moving forward, we can overcome obstacles and make way for future achievements. LIV Sotheby’s International Realty (LIV SIR) sought to do just that with its Virtual Open House event.
The Virtual Open House events, which took place last Sunday, May 17th, was the first of its kind in Colorado. The online event reached more than 500,000 homebuyers in not only Colorado, but the feeder markets that cater to out-of-town buyers as well, such as New York, California, and Texas. Viewers who tuned in were given access to more than 130 homes across the state. From incredible ski chalets in resort markets like Vail, Breckenridge, and Telluride, to stunning estates and high-rise homes in the Denver Metro area, consumers could virtually tour them all.
“The success of the Virtual Open House event shows that homebuyers are ready to get back to working towards their real estate goals,” said Shannel Ryan, Senior Vice President, Managing Broker at LIV SIR. “Consumers are excited to jump back into the market, all they needed was the right tools and the opportunity to do so. This event gave them that opportunity.”
The key to the virtual open house is the viewer’s ability to interact with the brokers in real-time. Brokers stream a live broadcast of themselves walking through the home, giving a tour similarly to how they would if the potential buyers were there in-person. This technique gives viewers the ability connect with the brokers and ask questions about the home without needing physically be in the house.
Pent up demand for homes fueled a major boom in showing activity in late April when the ban on in-person property tours was lifted. And while buyers are now allowed to tour homes in-person, open house events are still prohibited due to social distancing mandates. Virtual events satisfy the hunger for open houses, while keeping buyers and sellers out of harm’s way and adding a few extra benefits along the way.
This digital twist on the traditional open house also provides an element of ease to touring various properties. Virtual open house events give homebuyers the chance to explore a home without the need for setting up a formal in-person tour. Buyers can easily tune into multiple virtual events in one sitting, saving them time and eliminating the hassle of driving to each listing. Viewers can virtually bounce from home-to-home without having to leave the house.
And while convenience make these virtual events worthwhile for buyers, the amplified marketing potential creates added value to the sellers of the participating homes as well. The online open house events drastically expand the audience size, positioning the homes in front of a much larger pool of potential buyers than would be possible in a traditional, in-person open house event. The extra exposure enhances the likelihood that one of the viewers watching the tour will be interested in buying the home.
As the world continues to leverage technology in new ways to create safer and more efficient tools, we will see more adoption digital and virtual solutions. Considering the success of LIV SIR’s first Virtual Open House event, there will be plenty more online opportunities like this in the future.
To set up a virtual showing of one of LIV SIR’s incredible listings, and all of your real estate needs, contact LIV Sotheby’s International Realty by calling 303.893.3200 or visiting livsothebysrealty.com.