Despite surge in virtual home buyers, most online listings rely on old-school methods

Despite surge in virtual home buyers, most online listings rely on old-school methods

Despite surge in virtual home buyers, most online listings rely on old-school methods
After nearly a year and a half into a pandemic that has led to an unprecedented surge in online home shoppers, many real estate agents are still not stepping up their listings to fill the virtual void. According to a new study of 25,000 listings conducted by BoxBrownie.com, a virtual staging technology provider, 94 percent of listings do not include a virtual tour.

As reported by Realtor Magazine, many online listings that state they offer virtual tours are only providing photo-based slideshows of a property and only 16 percent of listings include a floor plan.

This data shows a big opportunity for real estate agents to attract buyers as the same survey showed that 67 percent of buyers say they want to see floor plans on listings and 58 percent say they want virtual walk-throughs of homes for sale.

Meanwhile, conforming no-point 30-year fixed mortgage rates are averaging 2.75 percent and 15-year rates are near 2.00 percent.

Do you have a question for Real Estate & Mortgage Analyst Mehran Aram? Submit your queries about a home purchase, refinance, or reverse mortgage via Aramco.biz, social media (#AramcoReport), or over the phone at (866) 381-8888 and your questions may be featured in an upcoming article.