The housebuilding industry is well-versed in showcasing virtual homes, and developers of all sizes have been kicking it up a notch to get buyers across the digital threshold.
London’s largest private developer Galliard Homes has partnered with on-line technology firm Reevo 360 to launch guided virtual viewings for buyers. The virtual viewings enable the Galliard sales team to guide buyers through London properties from their own sofa.
Where doors are being closed, windows are being opened. Developers with sales agents working remotely can market properties via virtual viewings technology and offers can be made and accepted.
For unoccupied new build homes, once contracts are exchanged, transactions can continue without any delay since there are no existing occupier risks. There is nothing in government guidelines to stop anyone from moving into an empty home.
“These are the biggest changes in Galliard’s sales and marketing operating procedures since the company was established in 1992,” the housebuilder said in a statement.
Galliard chose Reevo 360, founded in 2018. Potential buyers are sent a digital link for the Galliard property they are interested in viewing, along with a unique access code which connects the buyer’s screen to that of the Galliard sales agent, who can guide them through the digital property and answer any questions they have.
Should the buyer want a partner, relative, investment adviser or lawyer to join the virtual viewing, this can be arranged and up to 50 people can have connected screens with the sales agent.
Galliard calculate that they could receive requests for up to 120 virtual tours per month, if not more over the coming two quarters of 2020.
Despite the Coronavirus (COVID-19) pandemic, over the past month Galliard have continued to have 20 sales per week across their London portfolio, double last year during the Brexit stagnation.
Over the last week Galliard have also now had an average of four virtual viewings per day, and two reservations due to virtual viewings – one at The Stage in Shoreditch and the other at Westgate House in Ealing.
David Galman, Sales Director at Galliard Homes, said: “We have launched this new service for clients because, despite the Coronavirus (COVID-19) pandemic, over the past month we have continued to have 20 sales per week across our London portfolio, double last year during the Brexit stagnation. Our buyers want to view properties, yet stay safe from Coronavirus; so, this roll out of virtual viewings is an innovative solution to help meet this demand.”
David Galman continues: “Due to Coronavirus generating turmoil in stock markets arounds the world investors are taking flight from equities and putting their money into fixed assets such as property. In addition, many of our UK and overseas clients are either self-isolating or working from home so they are saving on commuting and have more time to look for property. As a result of all these factors we have had a 40% spike in website hits and sales enquiries.
Daniel Freeman, Sales Director at Reeve 360 added: “Our Reevo 360 guided virtual viewing is distinct from “Virtual Tours” which are not a proper guided tour or collaborative exchange between the sales agent and buyer. What Reevo 360 enables Galliard to offer customers is a truly interactive 360 degree tour of a property where the sales agent actually guides the buyer remotely through the home, talking through its features with them and answering questions, just as they do in the real world. This is why Galliard has chosen to roll out our offering across its London portfolio.”
Beauchamp Estates has also partnered with Reevo 360, to cater to its wealthy clientele seeking a luxury hideaway. Wealthy families are spending thousands to self-isolate in super-mansions, according a piece in The Times. Those seeking more space for the lockdown are said to be paying up to £15,000 per week on rentals of between three and six months.
Accordingly, Beauchamp Estates launched its new virtual viewings service for super-prime properties for ultra-high-net-worth-buyers. New Housing Ministry guidelines and the lockdown mean that the world’s super-rich will need to go ‘virtual’ to hunt for London property.
Gary Hersham, Founding Director of Beauchamp Estates said: “We have launched this new service for clients because, despite the Coronavirus (COVID-19) pandemic, we have continued to have enquiries and deals from clients from around the world. Our clients want to view London’s finest properties, yet stay safe from Coronavirus; so, the launch of our virtual viewings service is an innovative solution to help meet this demand.”
However, it isn’t just big housebuilders catering to the super rich. Small, bespoke housebuilders are also fast adapting. Jamie Read, Director at Independent London estate agency, Tavistock said: “The good thing about being a smaller sized business is that we can be agile and adapt very quickly to challenging situations. We do a lot of property videos in any case as a large proportion of our buyers and tenants are from overseas, but we’re stepping this up a level and offering live video viewings too.
“Yes, viewings have been, and will continue to be, affected, but this is a really interesting challenge for the property market to adapt to, and may pave the way for how the future of the industry will look in years to come. As a traditionally face-to-face business style, it may well have a lasting impact on how we operate viewings for the indefinite future, embracing technology and creative techniques that suit everchanging consumer needs.”
Harvey Homes, a family-owned company, decided to close the show home at Swan Green until the restrictions on movement in the UK have been lifted. However, they are now able to offer virtual tours through a newly commissioned video. They have also kept their customer care and sales teams fully operational.
Co-Founder and Director of Harvey Homes, Tom Ratcliffe, said: “In these times of uncertainty, we very much appreciate the continued efforts that our customers and our colleagues are making to keep themselves and their families safe.
“It is times like this when we all realise what is really important in life; the safety and security of our loved ones, and time with family and friends. The homes that we build are always designed with families in mind so that they can enjoy being together in spaces that foster engagement and quality time. We have received a fantastic level of support from the local community in recent weeks and months and we hope for this to continue, and for us to be able to reciprocate it as time goes on.”
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