Properties marketed with professional marketing packs including professional photography, floorplans and 360° tours, alongside Facebook advertising and premium listings, are selling 48% faster than those listed without, according to new research carried out by FocalAgent with LSL Property Services brands Your Move and Reeds Rains.
Tracking the sales journey of over 3,500 properties over a three-month period, the research reveals notable savings in marketing efficiency, increasing the overall volume of viewings by 13% on average, while helping agents to qualify leads and identify serious buyers. Using virtual viewings reduced the time spent travelling to and from viewings and accompanying buyers on physical property tours.
The research showed that properties marketed with professional marketing also sold for an average of £1,600 more.
FocalAgent recently signed a deal with Matterport to offer a best-in-class virtual viewing experience to sales and letting agents and their clients, investing in 350 Pro2 3D cameras for use by its national network of over 1,000 professional photographers.
Oliver Blake of LSL Property Services, owners of estate agency brands Your Move and Reeds Rains, said: “There’s no doubt that technology such as 360° tours and hosted virtual viewings became an established part of the COVID-19 property market. As we come out of the pandemic, our agents now have a very exciting suite of tools that help win us more instructions by giving vendors a choice of products to maximise the number of viewings and help their property sell more quickly – while at the same time reducing the inconvenience of a large number of physical viewings in their home, if that’s what they wish.”
Lee Wainwright (left), CEO of FocalAgent, said: “This research provides yet more evidence of the value of professional marketing packs in driving sales, reducing time on the market and securing higher sale prices. Consumer expectations have changed permanently and this is what will drive the adoption of professional property marketing over the long term, particularly tools such as 360 tours and guided virtual viewings which have been invaluable to agents during the last eighteen months.”
FocalAgent is working with over 2,500 estate agency branches to produce visual content and provide hosted virtual viewings through its FocalViewing platform. It recently marketed its millionth property through its visual content tools, as estate agents adopt a more digital approach to winning instructions and sales post-pandemic.