1 in 3 Home Tour Requests Are Now for Video Tours
1 in 3 Home Tour Requests Are Now for Video Tours More Homebuyers Now Making Offers on Homes They Toured Virtually |
[09-April-2020] |
SEATTLE, April 9, 2020 /PRNewswire/ -- (NASDAQ: RDFN) — One-third of home-tour requests made by customers last week were for agent-led video-chat tours, according to Redfin (www.redfin.com), the technology-powered real estate brokerage. That's up from less than 1% during the first week of March, according to a new report by Redfin. Additionally, of the offers signed last week, 12% were signed by customers who had toured the home they made an offer on via video, double the prior week's share, and up from close to zero at the beginning of March. Since early March, Redfin has been implementing a wide range of measures in response to the coronavirus, including letting homebuyers request agent-led video-chat tours with a single click on Redfin.com and the company's iOS and Android apps. Other recent technology features and safety measures from Redfin to help keep customers and employees safe include:
"Being in a city like Portland where many people want to live, I've been doing video-chat tours for out-of-town customers for a long time," said Portland, OR agent Daniel Brooks. "The biggest difference we're seeing today is that people already living in Portland are requesting them now too. I think we'll see local residents doing more video tours and open houses long after the pandemic is over—once people do one, they realize what a convenient way it is to see a home without driving across town." Digital closings with Redfin subsidiaries Title Forward and Redfin Mortgage have also spiked in recent weeks, as customers increasingly turn to technology to safely close deals. In the first five days of April, 10% of deals that were closed with Title Forward were done electronically, up from an average of 3% in March and 1% in February. At Redfin Mortgage, about 12% of April closings are expected to be entirely virtual—twice the share we saw in March and up from zero in February. To read the full report on how virtual activity is up across Redfin, please visit: About Redfin For more information or to contact a local Redfin real estate agent, visit www.redfin.com. To learn about housing market trends and download data, visit the Redfin Data Center. To be added to Redfin's press release distribution list, email press@redfin.com. To view Redfin's press center, click here.
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Company Codes: NASDAQ-NMS:RDFN |
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