For a home owner, selling your property could be a rather tedious and time-consuming process. A typical sequence of this particular process would involve the owner to allow an agent to take charge of the entire marketing aspect of the property, but given volatility of the marketing and external factors (like property cooling measures etc), there is always multiple possibilities that will cause the transaction to be delayed and in worst cases cancelled.
Example of property selling process(simplified)
And at each stage, there is a flexibility for the homeowner to control the outcomes of each stage. For example, if the bank’s valuation price isn’t what the owner expected (2), the owner may still proceed to Stage (3) to find an agent and rely on how strong the agent’s network and negotiation skills are to help get that specific price point that he or she is looking for. But things get tricky from Stage 3 onwards. Some examples of hiccups along this flow could be- viewings not made possible by an uncooperative tenant, the property is misrepresented by the agent or even sudden property cooling measures which will affect the entire property market. While some factors are not within one’s control, there are some that are still within one’s control. Given the technological advancements of late, one of the most valuable tools that has made waves across the world is the utilisation of 3D Virtual Tour to enhance ones’ property.
Sample of 3D virtual tour
Lets have a look at a real life scenario that an agent part of our Property Concierge experienced
Mr X wanted to sell his Edgefield Plain- 4 bedroom HDB and he engagedSean Low (Propnex)- MOGUL.sg’s Property Concierge to market his unit. Sean knew that there were other similar properties out in the market around Edgefield and time was of the essence. He then decided to engage a 3D Virtual Tour Company to do a shoot of Mr X’s house. The 3D Virtual Team took less than an hour to film the entire unit.A few days later, Sean collected the interactive 3D Virtual Tour video and posted it up on various property portals tagged to his listing. In a short span of two weekends, Sean managed to sell Mr X’s units even before his neighbour. Not only did he have clients who were impressed with his service, his listing and 3D Virtual Tour on the portals gave extra value to the home seeker who managed to catch a good look at the exterior and interior of the property before even going to the house for an actual viewing.
With today’s technology one can even wear a Oculus goggle to enjoy a more immersive 3D Virtual tour
After a short interview with Sean, he told MOGUL.sg that he had a total of 13 serious enquiries and 10 out of the 13 came for the viewing. Sean mentioned that the 3D Virtual Tour impressed the prospects so much that they were eager to view it within a short period of time. The Virtual Tour did manage to give a much clearer representation of the property than just the photographs and each prospective buyer who went for the final viewing have a very good idea of what to expect already because of the 3D Virtual Tour that Sean had produced for his listing. Apart from taking the lead in using what was in the best interest of his client and marketing the property in the best and most efficient way possible, Sean not only managed to sell Mr Sheng’s property in a short span of 2 weeks, but also raised his credibility and profile as a good property agent with quality listings.
At MOGUL.sg, we believe that technology is key and offer all the tools for a smoother, more efficient property transaction journey. Apart from being just a matching platform using geospatial data and artificial intelligence(AI), we also have 3D virtual tour partners, a dedicated panel of agents under our Property Concierge to help bring the best out of your property.
Property owners keen on selling register your interest with us today here and one of our Property Concierge agents will be in touch with you.
For Agents who are interested in using VR technology to close your deals faster and bring convenience to your clients, join us in a complimentary sharing session by registering your interest here.
Comments