According to the Gavl app, more than one in ten consumers who attend a livestream open house viewing plan to sell a property within the next twelve months.
Livestreaming works remarkably well for virtual property viewings. By giving a number of people the option to dial into a virtual, video meeting, everyone involved in a property viewing can view the tour without leaving their house or office. The estate agent could be dialed in, providing a commentary of the property, as the current occupant films each room. Potential customers dialed into the video conference are also able to put questions to both the agent and the occupant during the tour.
Gavl‘s analysis of a survey of more than 2,250 users shows that 6pc of new viewers during February were landlords. Of the total,11pc were considering buying in the next 12 months, 34pc intended buying a property straightaway and 38pc were potential renters. From the beginning of February, all new users signing up to the app have had to fill in a field that best describes their current ‘property status’.
This key element in the sign-up process helps agents create new instructions from livestream viewing events, and rationalise applicant suitability, thereby saving time for all those involved.
Livestream a novel way of creating instructions
Agents using the technology to advertise properties are handed a new stream of potential clients to investigate, as the firm’s research shows a minimum of 17pc of those who attend livestream open house viewings are either sellers or landlords. Agents are given a record of the event, together with the names, contact details and current property status of all attendees after every livestream viewing hosted on the website.
Joel Smith, CEO of Gavl, explains that sellers and landlords seeking to list a property attend livestream viewings as part of their research. They will want to see, he says, the asking prices of similar homes in the area and the property features and trends that are currently popular with home buyers. An open house livestream viewing, he adds, gives landlords and vendors the opportunity to scrutinise agents to see how they advertise properties and whether they are appropriate for their requirements.
The agent’s work in following up and securing the business is much easier, Smith explains, if a landlord or vendor has already seen how the agent conducts livestream viewings and communicates with clients. Providing a livestream viewing is a no-brainer as more and more landlords and vendors want to see their property advertised in this way because of the stir it creates and its unsurpassed efficiency.
Buyer status simplified
Agents can save a substantial amount of time on the qualification process if they are able to see a client’s current property status at the viewing stage. The ability to assemble attendees to watch a livestream viewing at a stroke means no time is wasted speaking to tenants about the buying or selling process, so that following up with prospective landlords and vendors can be prioritised.
Agents can waste hours qualifying applicants before a viewing even takes place, says Smith. The chance of time-wasters turning up is high if the initial qualification is incorrect. Qualifying all interested parties at the viewing stage is highly beneficial for agencies, resulting in reduced administration and frustration for team members. Additionally, it can save time for landlords and vendors which leads to greater client satisfaction.
Smith adds that agents can prioritise more efficiently by knowing when clients are ready to transact, while using their database to support those who aren’t yet ready to buy, sell, let or rent. Livestream viewings really can be a radical improvement for estate and letting agencies, Smith believes, if you acknowledge the twin benefits of revamping the qualification process and generating new leads.
