Technology is turning out to be the saving grace for the real estate industry during the coronavirus pandemic. Though potential homebuyers cannot step foot in a house, they are turning toward 3D home tours to continue their search from the comfort of their couch—or their bed, floor, or bathroom, for that matter. In the last week of March, Zillow reported an over 400 percent jump in the creation of 3D home tours from a typical week in February. And homes that have 3D tours receive 50 percent more site visitors and are saved 60 percent more than those without. These might not translate to major sales right now while the economy is still on a rollercoaster ride, but once the pandemic is over, buyers may jump on that house they have been eyeing for weeks. Knock on wood.
At a time when face-to-face interactions are being limited or outright banned in parts of the country, home sellers, buyers, renters and their agents are increasingly turning to technology. The number of 3D Home tours created on Zillow in March was 188% higher than the previous month. In the last week of March alone, created tours jumped more than five times (+408%) from a typical week in February.
Listings that feature a 3D Home tour are labeled with a tag that helps them stand out. In March, listings with 3D Home tours received about 50% more site visitors and were saved about 60% more frequently.