DC Condo Uses Virtual Tech to Drive Sales Amid Coronavirus
The eNvy, a 127-unit condo community in Washington, D.C.’s Capitol Riverfront submarket, has turned to virtual tech to help drive sales amid the coronavirus pandemic, according to Urban Pace, who is marketing the property on behalf of developer Jair Lynch Real Estate Partners.
Sales at the project accelerated last week, with five units going under contract with an average sales price of $936,700. The project, located at 70 N Street SE, currently has 50 unsold units and is expected to deliver in the second quarter.
“The market has been very strong recently and with low interest rates, buyers who had been in the market felt ready to move forward,” Clint Mann, President of Urban Pace, told Commercial Observer. “Most of the sales we have seen recently are people who had visited our sales office over the last 60 to 90 days and those buyers remain confident in the market and the building. We attribute that success to keeping a strong pipeline.”
Urban Pace has emphasized the use of tech in the sales process, relying on virtual reality tools, video tours of models and agent training on how to conduct virtual sales appointments,
“Each salesperson was set up with a GoToMeeting account and Urban Pace’s marketing team provided them with PowerPoint and video presentations for their projects,” Mann said. “We outlined best practices for executing video and FaceTime appointments and then had each salesperson present their project to the management team which provided an opportunity to give real-time feedback and optimize a potential purchaser’s experience.”
While Urban Pace does anticipate sales to slow down over the coming weeks, its sales team is engaging buyers who now have a little more time to focus on the home buying process.
The property features views directly into the home of Major League Baseball’s Washington Nationals.