Redfin: 63 Percent Of Homebuyers Made Offers On Unseen Properties

Redfin: 63 Percent Of Homebuyers Made Offers On Unseen Properties

January 14, 2021
Living room of a home.

A report from Redfin revealed that 63% of people who purchased a home last year made an offer on a property that they had not seen in person. This marks the highest share of folks to do so since 2015 and is also up 32% from the previous year.

The statistics were derived from a survey that was commissioned by Redfin in November and December, in which 1,900 homebuyers across 32 major markets participated. The results led the company to believe that virtual tours are going to become even more popular.

"The virtual home tour is here to stay," said Redfin chief economist Daryl Fairweather. "Homebuyers who are searching for a home out of town and don't have the time or ability to view the home in person will use virtual tours as their primary means of viewing a home. The increased use of this technology, coupled with more people relocating, mean the sight-unseen trend will continue, and the majority of homebuyers will make offers sight unseen during their search for a home in 2021."

Additionally, Redfin states that video tours with the company's agents have surged and monthly views of 3D walkthroughs on Redfin.com increased by 563% since February 2020.

"Live-video home tours have gone from futuristic fantasy to an everyday part of the homebuying process," said Connecticut-based Redfin agent, Mary Ellen Wisneski. "Over video, I'm able to show my buyers closeups of anything in the home and describe peculiar details they can't experience in 3D walkthroughs or photographs—it's like they are actually there with me."

Trends

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