Nearly 60% of home shoppers rely on virtual tools, according to a Homes.com survey.
For its New Construction: What Buyers Want Survey, Homes.com partnered with YouGov in May to poll more than 1,000 people age 25-plus who have incomes of at least $50,000 and either purchased a new home in the past two years or plan to buy a newly built property in the next two. See the full methodology.
Of the respondents, 59% used virtual tools as part of the home search, the survey found. People who intend to buy and first-time buyers generally used virtual tools more than the current owners of newly built homes.
Google Maps/Street View is the most popular tool, used by 64% of respondents, and the share is higher (69%) among people who intend to build a new home, the survey found.
The next most popular tool? Videos of a home or community, with 50% of respondents relying on that option. Interactive floor plans landed at a close third (47%).
The technology is key to helping buyers make quicker decisions, according to Jason Joseph, CEO of developer Trilogy Investment Co. in Alpharetta, Georgia.
"It gives them something visually they can touch and feel," Joseph told Homes.com. "They can see what's being built rather than imagine what's being built."
Tools remove the guesswork
GL Homes, a private homebuilder based in Sunrise, Florida, said it has sold more than 1,000 homes so far this year. While the builder has a large marketing budget and does much of its own outreach, virtual tools remain an essential part of the buying process, according to Marcie DePlaza, chief operating officer of GL.
Videos and digital brochures, for example, appeal to many of GL's clients, she noted.
"Several of our buyers are from out of state and purchase their home without even visiting the site," DePlaza told Homes.com. "They rely heavily on our virtual tours of the home, the features and the amenities."
Interactive site plans impress
Younger buyers tend to prefer virtual tools when researching homes or neighborhoods, industry observers say.
Still, "shopping for new construction in particular is still very much a 'boots on the ground' process and a lot of people still walk into model homes as their first point of entry into new construction, or attend open houses," said Lilly Rockwell, a broker associate with Compass in Austin, Texas.
Other tools that survey respondents mentioned include interactive site plans (40%) and Matterport 3D tours (25%), with 12% using none of the listed tools and 2% using other ones.
"I'm happy if a client does some legwork on whatever tool they want because it helps to focus them on what they like most," David Canaday, an agent for Watkins Real Estate Associates in the Atlanta area, told Homes.com.
During listing presentations, it's important for agents to demonstrate their use of virtual tools to prove to sellers they can market the house appropriately, he noted. But when it comes to searching for homes, most of Canaday's buyer clients pass on the virtual tools, he said.
Instead, they scroll through a curated list of properties from the local Multiple Listing Service that he emails them, based on their individual preferences.
"If someone is relocating from out of town, on occasion they'll be willing to rely on those kinds of tools," Canaday said. "But most want to wait to pull the trigger until they can visit in person."