Redfin Report Says Almost Half of Recent Homebuyers Made Sight-Unseen Offer

July 30, 2020
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The American brokerage firm Redfin has released a report which claims that 45% of homebuyers across the country made a sight-unseen offer for a house in the last year. The figure is up from 28% during the same period last year and reflects a growing trend among homebuyers who increasingly trust what they see on property portals and are not willing to gamble with their safety looking around properties in person.

With demand in the US housing market currently outstripping supply, Redfin Chief Economist Daryl Fairweather believes that the trend for sight-unseen offers will continue to grow:

“I predict that by the end of the 2020 homebuying season, the majority of homebuyers will have made a sight-unseen offer. The pandemic has changed the way many people view homes, and on top of that, the market is highly competitive. If you aren’t using this strategy, another buyer who is could beat you to the punch.”

For now, this may just be an American phenomenon but if, as seems likely, homebuyers around the world would rather gamble with their money than with their health the onus lies with portals and agencies to provide ever better listing-tech to make sure that the properties they are marketing can convince someone the other side of the country to commit to a purchase.

July 30, 2020
Edmund got to know the world of portals and marketplaces working at Mitula Group (which became Lifull Connect after the buyout in 2018). He worked directly with hundreds of portals across the world in his role in the content department for three and a half years before transferring to the SEO department to understand the inner workings of listings sites. He joined Online Marketplaces as Head of Content in March 2020.

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