Category
Tech
Fixable Devices
Trend cluster
Category
Virtual
Open-House
The real estate industry is turning to technology for solutions amid COVID-19.
5.3
Trend score
Trend
What is the Virtual Open-House trend?
Virtual Open-House: As in-person property viewings are a cause of concern during the health pandemic, real estate agents are increasingly turning to technology to continue servicing their clients. Through virtual reality, 3D tech, and social media live streams, realtors are able to continue showing properties for sale.
Insight
The consumer insight behind the Virtual Open-House trend
Consumers are pushing to continue with business as usual while adhering to the governments' safety directives. As consumers' lives across North America remain on hold and their everyday has drastically changed, postponing large milestones and investments that they've planned for some time can be a source of additional stress. Moving forward with plans and making important life decisions allow individuals to experience some sense of normalcy as they navigate a changed world.
Trend themes
Themes within the Virtual Open-House trend
Three behaviours holding the trend together01
Virtual Home Tours
Virtual home tours are booming in popularity as physical distancing rules persist during the COVID-19 pandemic.
02
Augmented Reality Communication Platforms
A new augmented reality communication platform is debuted by Frontdoor, a leading provider of home service plans, to provide remote service during and potentially after the COVID-19 pandemic.
03
Livestream Virtual Reality Tours
Real estate businesses are tapping into livestream virtual reality tours to allow clients to continue exploring their dream homes from the safety and comfort of their couch.
Industry implications
What the Virtual Open-House trend means for industry
Where the trend changes the playbookFor
Real Estate
The real estate industry is heavily impacted by the COVID-19 pandemic and is turning to technology for solutions such as virtual home tours and augmented reality communication platforms.
For
Home Services
Home services companies are utilizing augmented reality communication platforms to provide remote services to customers during the pandemic.
For
Technology
The boom in virtual home tours and augmented reality communication platforms demonstrate opportunities for innovative technology to disrupt the traditional real estate industry.
Workshop question
How might you adopt an in-person service to the virtual environment?
Trend signals
Trend signals for Virtual Open-House
Trend score 5.3 out of 10, from popularity 80%, activity 70%, freshness 9%.
Popularity80%
Activity70%
Freshness9%
Audience
50%Men
50%Women
- Gen Alpha
- Gen Z
- Millennial
- Gen X
- Boomer (not a primary audience)
Market
North America
Europe
Asia-Pacific
South America
Evidence
Examples of the Virtual Open-House trend
4 featured examples from May 19 to May 25, 2020CategoryTech
Livestream Virtual Reality Tours
HOMGROUP Provides Accessible Home-Viewing Options During COVID-19
Opportunity for real estate businesses to adapt to the pandemic by utilizing virtual reality tours.
CategoryTech
Augmented Reality Communication Platforms
Frontdoor's Streem Seamlessly Enables Remote Service
An opportunity for home service providers to incorporate AR communication platforms to provide remote services.
CategoryBusiness
Virtual Home Tour Services
VirtuallyPossible 360 Provides Interactive 3D Property Visualizations
Virtual home tours and interactive 3D property visualization offer disruptive innovation opportunities for the real estate industry to improve the home-buying experience.
CategoryBusiness
Virtual Open Houses
LIV Sotheby’s International Realty Taps Live Streams to Continue Business
Disruptive innovation opportunity: Embracing virtual open houses and digital tools can revolutionize the real estate industry, improving efficiency, customer experience, and globa…
