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The Open House may be headed for extinction!

The Globe and Mail (8 October 2021) The Open House may be headed for extinction

A small portion from the article:

To be sure, some agents never stopped doing open houses, maybe they just modified the usual rules for COVID-19 protections. But Mr. Kutyan and many agents like him have found that virtual tours – or 3-D guided tours – are more than sufficient to weed out the looky-loos from the potentially serious buyers and he still does individual in-person showings.

The virtual tour is the key tool in this transition, and many of the companies that provide them have seen booming growth. Waterloo, Ont.-based Planitar Inc., makers of the iGuide measuring system and virtual tour platform, has seen its share of its home market nearly double.

iGuide is the market leader in Canada with about 12 per cent of the national market,” Alexander Likholyot, CEO of Planitar, said. “In 2019, we were probably around five or six per cent of the market. During COVID our growth rate doubled overnight.

I encourage you to read the entire article.

Tip: Statistics in this article may be helpful.


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