New Redfin Virtual Shopping Study Shows Jump in Number of Homebuyers Making Offers for Unseen Properties

Susan Moguel

FORT LAUDERDALE, FL -- Nearly 63% of people who bought a home in 2020 made an offer on a property that they hadn't seen in person, according to new study by Redfin. This is the highest share of sight-unseen offers since at least 2015.

What’s behind this trend and what should homebuyers know before proceeding with a sight-unseen offer on a home?

Susan Moguel, Marketing Director at Arden, South Florida’s award-winning residential agrihood community that saw a whopping 50% increase in home sales in 2020, offers her insights:

“Three main factors that have converged to produce this growing trend. 

Firstly, with mortgage rates reaching a record low of 2.65 percent in January 2021, homebuyers are scrambling to lock in the savings.

“Further, the coronavirus pandemic has drastically altered people’s perceptions and needs when it comes to their homes.

 "With many families now spending more time than ever before in their homes due to COVID restrictions, many are trading their cramped city apartments for more spacious single-family homes in suburban areas.

 "For example, in South Florida, single-family home sales jumped between 15.8% and 16.6% year-over-year, in Broward, Palm Beach, and Miami-Dade.

 "As a result, the increased demand for homes has outpaced the supply, turning today’s real estate market into a highly competitive environment.

 "Many homebuyers simply don't have the luxury of being able to wait until they can visit a home in person.

“Finally, the realities of COVID-19 have made buyers a lot more comfortable with virtual shopping.

 "As telecommuting became a necessary part of everyday life for millions of Americans, realtors had to quickly adjust, introducing virtual home showing options for countless properties and making the process of buying a home sight-unseen easier than ever before.”

Susan also shares a few helpful tips for those thinking about buying a home sight-unseen:

“Homebuyers who plan to look for their new home virtually, should remember to ask their agent questions that would help them fill the gaps of a virtual experience.

 "For example, since you can’t smell or hear every sound during a virtual showing, ask your agent if any of the rooms have an unpleasant odor or if they can hear any noise from a nearby street.

 “Video can also make it difficult to gauge the true size of different spaces, so make sure to confirm that everything in the home is as big or as small as it appears on screen.

  “Finally, don’t forget to also do some research on the neighborhood of your new home. 

Google Street View can be a great tool in that process.”

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 Vlad Drazdovich

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