How many of us remember the bright lights of Blockbuster in our neighborhood? It was the place to go on a weekend to peruse through hundreds of movies and then choose one to watch in the comfort of our own homes. Back then, Blockbuster was a hit and three times larger than its closest competitor.
While Blockbuster ate up its competition and focused on opening new stores, a small company called Netflix was building a platform that didn’t require you to leave your house to watch your favorite movie. In time, Blockbuster went out of business and Netflix became the mega hit it is today.
Technology and customer expectations are changing the game for almost all industries, real estate included. Innovation has clearly become the key to not only survive, but also to succeed. Especially in these days of social distancing and COVID-19, advanced technologies are not only helpful, but necessary. In fact, virtual tours are recommended by the National Association of Realtors® as a way to avoid face-to-face contact while marketing homes during the coronavirus.
Providing a way for agents and buyers to tour homes virtually is at the forefront of a major shift in the way real estate agents do business. After all, agents know that a successful open house can be the key to a sale, and so is a newly renovated house.