Generally, it only takes around 18 days for a home owner to get an offer on their house. It can only take a few months for a home sale to complete. This rapid home buying process is partly due to the national seller’s market, and partly due to virtual open houses.
Through this kind of technology, people can explore St Louis real estate and St Charles real estate from the comfort of their couch. They can imagine what it would be like to live in a home, without ever visiting it. However, there are some downsides to the new technology as well.
Keep reading below to learn more about virtual open houses and whether they are right for you.
In A Sellers Market, Virtual Open Houses Help
Across the U.S., it is a seller’s market. Buyers are grabbing houses almost as quickly as they are put on the market, and inventories are dwindling. As a result, demand is rising and so are the prices of homes.
Buyers already know this, and so they are acting fast to grab a home when they can. If buyers can go through a virtual open house instead of a traditional one, they will be more comfortable placing a bid without entering the home. Virtual tours help people immerse themselves in the possibilities of a house.
When buyers walk through a home, they want to imagine what the possibilities are of living in it. They want to visualize how rooms can be decorated, and what they can do with the space. Virtual tours let them do exactly that, without leaving their own home.
Any Home Owner Can Make a Home Sale Quickly
After buyers explore the house, they will be more comfortable placing a bid. They will be able to decide if they actually want the house or not, and can simply reach out to their realtor to place the bid. In a matter of hours, sellers can have a list of offers.
Later on, buyers may want to go on a traditional tour of the home. But at that point, the offer will have already been placed and contracts could be in negotiations. It makes the whole process go faster, and owners don’t even need to rearrange their furniture for it!
St Louis Real Estate Buyers May Want a Traditional Open House
While most people are comfortable with virtual tours, some buyers are nervous about placing offers on older homes. They may want to walk through the building to explore its smaller details. For example, they may want to test the strength of beams or examine the house’s foundation.
If a home is valuable enough to them, they will schedule a traditional tour as fast as possible. This also gives sellers a chance to meet potential buyers in person. They can chat and learn more about why they’re interested in buying a home.
Traditional open houses also give homeowners a chance to determine how much they can negotiate with buyers. It can help them make more from the sale than blandly accepting an offer would. It also helps them add value to the house through curb appeal.
St Charles Real Estate Can Have Some Older Buildings
The city of St. Louis was founded in 1764 — it’s one of the oldest in the U.S. As a result, many of its buildings date back hundreds of years. Many people may be wary of putting in an offer for a home older than 100 years.
So, sellers in the St. Louis and St. Charles areas can expect to have more people trying to schedule traditional open houses. They want to feel the structural integrity of the house themselves. However, that doesn’t mean sellers shouldn’t create virtual tours.
The real estate market is still hot and people are still trying to move to the area. Virtual tours can help sellers attract out-of-state buyers.
Pick The Option That Works For You
If there’s one thing St Louis real estate and St Charles real estate have in common, it’s the age of the buildings. If there’s another thing they have in common, it’s that both areas are a seller’s market. This means sellers can benefit heavily from virtual open houses.
People from all across the world are trying to become a home owner in the area. Virtual open houses can help quickly secure a home sale with them. Reach out to us to learn more about whether a traditional open house or a virtual one is right for you!