According to a survey commissioned by Redfin, U.S. buyers of high-end homes are almost twice as likely to bid on a property before seeing it in person than the buyer of an average house.
Among buyers of houses worth more than $750,000 39 percent made an offer without visiting the properties first in the past year vs. 19 percent of those who bought a residence at any price.
Bidding wars and fast home selling speeds are two factors driving the trend. The increased use of technology in residential real estate, including apps, 3D photos and live video, is another factor.
There are steps buyers can take before bidding for a property they fall in love with through photos or videos. Redfin recommends hiring a real estate agent that they trust. Buyers should ask the realtors to point out aspects of the home that are not easily captured in photos, and including inspection and other contingencies in their offer.
