No matter what real estate buyers are looking for, they all have one thing in common—they want to get their hands on as much information as possible. They want to know the price, the square footage, features, any improvements that have been made, etc. It’s an endless stream of questions that can all be addressed by a good property dossier.
Everyone involved in the marketing and selling of real estate thus needs this document. The dossier makes the whole process more efficient and a lot easier for the buyer and seller.
In this post, we’ll tell you all you need to know about this vital tool and how you can use it to your advantage. We’ll also share how you can use quality virtual tours from Plus Render to seal the deal.
What Is a Property Dossier? When Is It Used?
Buyers are extremely particular about the construction and state of the property they’re looking at. They want to ensure a high-value purchase and that’s where a property dossier comes in. This comprehensive document gives buyers access to all the information they need to make a more informed decision.
Prospects get a look at the type of property title—understand its leasehold, freehold, or development right which quells any fears they may have. They don’t have to make calculated guesses or speculate. Moreover, they can also learn:
- Whether the property was constructed according to the zoning plan
- Data on home loan registration and utility bill ownership transfer
- Its construction approvals, with NOCs from different departments.
- Which appliances are built-in and which ones they’ll need to bring in
- The status of property tax payments to gauge any pending liabilities
- Alterations or any upgrades that may have been made to the property and whether there are any warranties or guarantees
Moreover, they can also get insights into the city’s pricing trends and connectivity alongside emerging trends in real estate to become more familiar with the property’s marketability.
Creating Interest in Your Properties: Dossiers and Virtual Tours Vs. Traditional Methods
Among the various techniques for drumming up interest for your listings, dossiers and virtual tours offer unique advantages. Let’s evaluate them alongside more traditional marketing methods such as staging and open houses.
Open houses facilitate networking as they allow many potential buyers to get a feel of the place, saving you time and money that goes into one-on-one showings. This traditional route for house-hunting lets interested prospects make an emotional connection with the space, making the house seem like a “home,” which could lead to a bidding war if you’re lucky.
This makes it an effective way to create buzz and interest around a listing, generate quality leads, and sell houses for more profit. According to a Redfin study, homes with open houses sell for $9,046 more (on average) than homes that never had an open house. In addition, they also spend 7 days less on the market!
Staging has become a must-do for making properties more appealing. Real estate agents tap into it to make it easier for their prospective buyers and investors to visualize it as their own.
Since many people have an aesthetic bias, “setting the stage” by cleaning and removing clutter helps present it in the best possible light. Seventy-one percent of buyers want a move-in ready home, so ensuring your listing stands out from the rest could give it significant selling appeal. This is echoed by a survey conducted by the International Association of Home Staging Professionals, which shows that staging can help you sell homes up to 30 times faster than non-staged properties.
Additionally, it can help increase the sale price by up to 20% on average!
Over the years, staging and open house events have remained relevant but they have a major disadvantage: they limit you to people within your time zone and geographical reach. You cannot sell to those who reside far away from you unless you can convince them to make a lengthy trip and visit the property in person. Having said that, let’s now move on to dossiers and virtual tours.
A comprehensive property dossier can give interested buyers and investors an in-depth analysis of the property, including its characteristics, structure, heating system, and other important tidbits. It may also include a map with information about the municipality and transportation systems.
A proper dossier can go a long way in helping interested parties gauge their worth, which can provide peace of mind and speed up the conveyancing process. This makes it one of the most effective ways to sell homes more quickly AND more profitably regardless of where potential clients are based.
We live in an age of technology where 3D virtual tours have become indispensable for exploring properties—without actually visiting them in real life. As such, they offer unparalleled accessibility and maximum opportunities for engagement because of their ability to cater to potential buyers who may not be able to physically visit the listing.
Here are some of the benefits of virtual tours in numbers:
- According to data from HomeAdvisor, home sellers typically pay $782 to $2,817 in staging costs. If the home is vacant, expect to pay upwards of $2,000 a month for furniture rentals alone.
- Sixty-seven percent of home buyers say they want a virtual tour when looking at a listing.
- Listings with virtual tours get 87% more views than listings that don’t have them.
Based on this information, it’s unsurprising that the virtual tours market is expected to grow at a compound annual growth rate of 14.4% between 2022 and 2030.
How Plus Render Can Help You Create Virtual Tours
Virtual tours may be a high-risk, high-reward venture but they help stack the odds in your favor. Plus Render recreates listings visually so that interested buyers can develop a better appreciation of what they offer. Our virtual tours encourage viewers to navigate the space and explore it from different angles. It’s an immersive experience that highlights the potential of a property. It furnishes them with all the key information they need and can even be used for properties that have yet to be fully constructed.
So, whether your latest clients are investors or are looking to use the property themselves, these simulations can engage and excite.
Unlike physical home tours where prospects see the selling points of a home firsthand, virtual tours offer more comprehensive information that they can revisit as often as they like. They also provide a bird’s eye view into the surroundings, so prospects can look at the facilities and amenities of the neighborhood to see if they align with their preferences.
If you decide to stage a home virtually, we can stitch together images and 360-degree visuals while jazzing them up with decor and furniture to make the property even more appealing. Even better, you’ll only spend a fraction of what it would cost you to stage the space.
Sell To Anyone in the World
If you’re a traditional real estate agent, you might assume that your clients are limited to those within your geographical reach. But with virtual tours and property dossiers, you can up your game. Both can be uploaded online so anyone in the world can access them.
This means that you’re no longer bound by how far you can distribute your flyers and business cards. As long as you can create an online presence with compelling marketing materials, the world is your oyster.
Did you know that up to 63% of buyers made offers on properties they hadn’t seen in person? It’s time to take advantage of that fact by beefing up your collaterals and marketing strategy so they include the digital world.
Do you want to see if clients halfway around the world and several time zones away might be interested in what you’re offering? With a good website, a proper dossier, and a quality virtual tour, you can grab their interest and cast your net further than ever.
Why Property Dossiers and Virtual Tours Go Together
Property dossiers are filled with pages and pages of specifications, details, and pictures. Though necessary, they can be off-putting for interested buyers to sift through. To keep your audiences engaged, a virtual tour can fill in the gaps left by a property dossier.
More immersive and hyperrealistic, virtual tours are comprised of images that bring out the best in your listings. They’re then put together to create a seamless and navigable experience. In short, they make the information contained in the dossier come to life.
Instead of just reading that a property is 300 square feet, potential buyers can explore the square footage, appreciating the layout, finishings, materials, and the way the light strikes them along the way.
Property dossiers are essentials for real estate players but a good virtual tour can help your listings stand out from the rest. Book a call with Plus Render to learn more about how our virtual tours can revolutionize the way you sell.