Is video replacing inspections for property buyers?
More and more real estate agents are using video as part of their marketing campaigns to sell properties.
Some of the larger sales agencies even have a full time presenter, sound and camera person just to look after all the videos for their listings.
It's probably only a matter of time before this trend starts to spread to properties for rent as well especially as the videos becomes cheaper and cheaper to produce.
Sales agents who were first in the market to use the marketing videos capitalised on it as a competitive advantage to win listings but increasingly it's becoming the norm much like a floor plan.
From a buyers perspective videos work alongside photographs and floor plans to help people select and de-select properties they feel are worth inspecting but they are not a substitute for actually inspecting the property.
We know that some expats and people based interstate already buy property sight unseen as they rely on photos and floor plans when making a decision which I think is foolish.
I think property videos give more people confidence to go down this buying sight unseen path. It's important to remember that although video appears to be more authentic when compared to still images, a property's negatives can still be videoed around.
So the ability to selective display a property in a positive light whilst avoiding its shortcomings is going to continue to happen and if you buy a property sight unseen you will likely be disappointed when you see what you have purchased firsthand.