AgentTechnology

1 in 3 homebuyers making offers sight-unseen: Takeaways for real estate agents

Agents can cater to the trend by using new tech and serving up as much imagery and data as possible
  • The proliferation of property information, imagery, neighborhood data and new technology is likely giving buyers more confidence to bid on homes without visiting them in person.

With properties selling like hotcakes, one out of three recent homebuyers made an offer on a home without seeing it in person, according to a new survey from high-tech brokerage Redfin. The finding underscores how leveraging new marketing technology and serving up as much property data and imagery as possible can benefit agents while marking a striking generational shift toward pulling the trigger from afar. Thirty-three percent of people who purchased a home in the last year bought the property sight-unseen, up from 19 percent last year and 21 percent two years ago, according to a survey of 11 metro areas commissioned by Redfin. Millennials were more than three times as likely as their parents to make offers sight-unseen, with 41 percent having said they had done so, compared to 30 percent of Gen Xers and only 12 percent of baby boomers. The breakneck pace of today's housing market is likely driving the trend, with homebuyers scrambling to lock down homes before others...