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Takeaways:

  • “Virtual open houses” can boost the number of leads generated by open houses.
  • Listing portals and brokerages will be able to embed virtual open houses on their websites later this year.
  • Real estate-focused features may make ReaLync worth paying for, even though other live video streaming apps are available for free.

Real estate agents can now theoretically walk an army of prospective buyers through listings in real time.

ReaLync has released an updated version of its live video streaming app that lets agents host “virtual open houses” that can accommodate more than 1,000 people, an order of magnitude higher than its previous capacity.

The update magnifies the potential of ReaLync’s software to generate leads for real estate agents. Even before the update, ReaLync was boosting the number of leads captured at open houses by 150 percent, according to CEO Matt Weirich.

After registering their contact information, attendees of virtual open houses can watch and interact with an agent as the agent walks about, transmitting live footage of a home and neighborhood through a smartphone.

Prospective buyers attending virtual open houses can easily view property details, send messages, capture screenshots and take notes during a tour.

Screen shot of Realync promotional video.

Screenshot of Realync promotional video.

Those features, the ability to accommodate hordes of viewers and a tool for recording videos offline are some of the reasons why agents may decide ReaLync is worth paying for, even though other video streaming apps are available for free.

Virtual open houses may realize their full potential once ReaLync releases an API (application programming interface) that lets agents, brokerages and listing portals embed live video tours on their websites.

ReaLync’s latest product update has brought the startup one step closer to completing its API, which it expects to release by the end of the year.

Weirich said ReaLync has been in talks with listing portals, not just brokerages, about its API, hinting at the possibility that listing portals might host virtual open houses on listing pages in the future.

Email Teke Wiggin.

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