Landlords are always seeking ways to maximize their reach. Whether that be to renters across town or states away, the goal is to attract as many renters as possible. Luckily, evolving technologies have made it easier to maximize a listing’s exposure, and one way to do so is by hosting a virtual open house.
A virtual open house allows tenants to explore a property without ever having to leave their home. For landlords, it eliminates the need for physical open houses, which can be time-consuming and expensive. However, to achieve the same effect as an in-person showing, it’s important to learn the best practices for virtual execution.
In this guide, we’ll discover the ins and outs of virtual open houses by answering the following questions:
- What is a virtual open house?
- What are the benefits of hosting a virtual open house?
- How can I successfully host a virtual open house?
- How can Apartments.com help me host a virtual open house?
What Is a Virtual Open House?
A virtual open house is a live or pre-recorded walkthrough of a rental listing. Much like traditional open houses, virtual showings are used to give tenants an in-depth look at your property. Though listing images provide strong visuals, virtual open houses give renters a more in-depth feel of a space, as if they were exploring the property in the flesh.
When it comes to virtual open houses, there are three routes you can take. You can pre-record the open house and attach it to your listing, set up a 3D model that users can click through when viewing your listing, or live stream the open house in real-time. Each of these approaches is effective for virtual showcases. However, there are upsides and downsides to each of them.
Before you decide which route to take for your virtual open house, let’s dive into the pros and cons of each:
Live virtual open house
Livestreamed open houses are great for engaging with viewers. Though it may feel less polished than other options, some renters appreciate the candidness of a real-time showing and enjoy being able to ask questions live. For landlords, the main downfall of hosting a live open house is you’ll need to plan and advertise ahead of time so potential renters can make time to attend.
Pre-recorded virtual open house
Pre-recorded open houses eliminate the stress of scheduling conflicts. With this option, you can shoot the open house as many times as you’d like and then post it to your listing for renters to view at their convenience. Pre-recorded showings are more polished than livestreams. However, they don’t allow for off-the-cuff interactions with potential renters.
3D model virtual open house
3D models offer the best of both worlds. They provide an interactive and immersive experience for renters while also offering the convenience of viewing the property at any time. However, creating 3D models can be more expensive and time-consuming than pre-recorded or livestreamed open houses. Often, they require professional software and equipment to create, but the result can be impressive and make your listing stand out from the competition.
What Are the Benefits of Going Virtual?
While traditional tours are great for showcasing rentals, virtual open houses can be just as effective. Yes, in-person showings give tenants a clear picture of what the property is like, but they aren’t nearly as convenient, cost-effective, or safe as virtual showings. Let’s explore the benefits of hosting a virtual open house below:
Broader audience
Not all renters are local. In many cases, prospective tenants may be looking to rent across state lines or even across the country. Virtual open houses allow you to better reach these out-of-town renters, allowing them to explore your property without a physical visit. This opens up your listing to a broader audience, increasing your applicant pool and chances of finding the perfect tenant for your rental.
Increased convenience
Virtual open houses are more convenient for both landlords and tenants. As we just mentioned, they eliminate the need for physical visits, meaning neither party will have to rework their schedules to come tour. For landlords in particular, they also require much less preparation, as you won’t have to spend time and money extensively staging the property or preparing for crowds of people.
Minimal risks
An in-person open house can pose several risks for a landlord. As strangers explore your property, there’s always the chance of damages or theft. Virtual open houses, on the other hand, eliminate these threats and allow for risk-free showings. Additionally, virtual showings can minimize sickness exposure during high-risk periods like flu season.
Lower costs
Virtual open houses are a cost-effective way to showcase your rental. While you’ll still need to prep your listing to some degree, it won’t be as costly as preparing for an in-person showing. For example, refreshments are a typical cost for traditional open houses, but they aren’t necessary for virtual ones. With a virtual showing, all you’ll need to do is make sure your listing looks its best on camera. This will typically require some cleaning and staging costs, but not to the extent needed for in-person tours.
Tips for Hosting a Virtual Open House
Now that you know what a virtual open house entails, it’s time to learn how to execute one. With the helpful tips below, you can successfully host a virtual open house that will attract potential tenants and showcase your rental in the best possible light.
Promote the virtual open house
The key to any open house, whether virtual or in-person, is to generate buzz. Whether you’re advertising it on social media or through word of mouth, it’s important to promote your listing as your open house approaches. This will ensure a good turnout and increase your chance of finding the right tenant.
Prepare to showcase your property
Getting your property in tip-top shape is a good practice before adding any type of imagery to your listing. Whether you’re taking pictures, videos, or hosting a virtual open house, make sure your property is clean and tidy. Eliminate any visible clutter and clean all surfaces thoroughly. You should clean as if renters are coming to visit in person.
If you have the resources to do so, you should also stage your property for its virtual open house. This will help potential tenants envision themselves in the space and can make you stand out from other listings. When staging, consider adding small touches like towels, plants, and photos. On top of that, make sure the lighting is right for the camera. The space should be well-lit, and natural light is always best.
Master the art of filming
Along with a tidy and staged home, the key to a successful virtual open house is a clean and crisp video. If you plan to livestream your open house, consider having a friend or partner film you as you walk through the property. If you must film yourself, investing in a phone mount or camera grip can help keep your device steady for a smoother video.
In a traditional open house, landlords usually allow attendees to explore the property on their own while they stay close by to answer questions or provide additional information on the property. Remember this dynamic for your video; while you aren’t the main attraction, don’t hesitate to stay in frame and share valuable insights about the property.
Practice your walkthrough
When it comes to hosting a virtual open house, practice makes perfect. Rather than filming your open house on the spot, you should prepare yourself with practice walkthroughs. Take the time to determine which angles and approaches best showcase your space and decide which features you will highlight throughout the tour. Rehearse what you’ll say to sound knowledgeable and refined when speaking to viewers. This will ensure a smooth and confident delivery come open house time.
Keep things concise and engaging
You might be wondering how long to spend on your virtual open house. While there isn't a set duration for showcasing your property online, it’s important to remember that online viewers usually have a much shorter attention span than in-person audiences. Aim for a video length of about 10 to 20 minutes. Spend one to two minutes on each key feature you want to highlight, such as the kitchen layout, recent renovations, or your yard if you have one. However, be careful not to linger too long—keep a quick pace to maintain viewer attention and engagement.
Engage with renters post-open house
When live streaming your virtual open house on a platform that allows viewer comments or during a video chat with participants, allocate time for questions. Prospective tenants may seek clarification on details you might have overlooked. After addressing their inquiries, reiterate key information about the listing, including the number of bedrooms, neighborhood, price, and availability. Finally, follow up with participants who expressed genuine interest in the property to demonstrate your eagerness to close the deal.
Do several virtual open houses for increased search
While virtual open houses have elevated convenience for prospective tenants, there’s still a chance that some renters won’t be able to tune in. Consider scheduling multiple virtual open houses to accommodate everyone’s schedules. Depending on the software you use, you might be able to stream to multiple platforms at once, expanding your reach even further. This strategy will generate more leads and increase your chances of finding the right tenant.
Advertise Your Property with Apartments.com
While hosting a virtual open house can seem like a lot of work, it can be incredibly beneficial for your rental business. With the right approach, you can showcase your property in a convenient and cost-effective manner and get steps ahead of your competitors.
At Apartments.com, we offer an expansive suite of Rental Tools to help elevate your rental listing. When you upgrade to a premium listing, you'll gain access to advanced listing features, including the ability to upload up to six videos to showcase the best of your property. These tools can help you create an immersive and engaging experience for potential tenants, making your property stand out in a crowded market. Get started today on Apartments.com and show off your rental property like never before!
This article was originally published on November 20, 2020, by Jacob Margle.
