|February 26, 2018|
|Redfin Survey: 35% of Recent Homebuyers Bid on a Home Before Seeing it in Person|
This is based on a Redfin-commissioned survey conducted in November and
Millennial homebuyers were even more likely to make an offer sight-unseen, with 45 percent in November and 41 percent in May saying they had done so. These results likely reflect millennials' comfort relying on information they find online about homes for sale, neighborhoods they might not have visited in person, and the home-buying process in general.
More than half (57%) of respondents who bought a home in
People who can't get in to tour a home right away because they're busy or relocating from out of town often rely on tools like Redfin 3D Walkthrough and FaceTime® to explore the home itself, and the vast array of statistics, reviews, maps and articles online that can help a prospective buyer understand what it's like to live in a neighborhood. However, in the case of offering sight-unseen, the agent can be a buyer's greatest resource.
"This family had a only a few weeks to find a home and they did not want to live on-base or rent," Hunter said. "Because the wife was 8 months pregnant at the time, they needed a move-in ready home within 20 minutes of the base. While conducting video tours with them, I was very careful to explain things that they would not be able to experience virtually, like the sounds, smells, and textures. I pointed out flaws that are hard to detect through video so that nothing would be a surprise to them once they visited in person. It's not the easiest way to shop for a home, but together we found the perfect match."
With no end to the housing shortage in view and more millennials entering the housing market, the trend toward sight-unseen bids is likely to grow in 2018.
To read the full report, complete with data, charts and a full methodology, please visit: https://www.redfin.com/blog/2018/02/sight-unseen-in-2017.html.
For more information or to contact a local Redfin real estate agent, visit www.redfin.com. To learn about housing market trends and download data, visit the
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