Virtual technology provides a much more immersive experience and can be used to provide a stunning, comprehensive tour of a home and its grounds. So, if you're in real estate and looking for new ways to stay ahead of the competition, let's look at VR and see if it's truly the future of the real estate.
It is time to investigate the possibilities of another dimension. Static 2D images are used in many agents' representations of available properties. Listings and email are used to communicate information. Furthermore, open houses are a standard part of the home-selling process. This may soon change as more agents incorporate virtual reality into their listings and communications with potential buyers and sellers.
Let's take a look at three game-changing VR use cases in real estate and construction.
Virtual Property Tours
When considering listings, more than half of homebuyers believe a virtual tour is extremely important. YOUR CUSTOMERS WANT VISUAL AND INTERACTIVE CONTENT. There's a lot of competition... and even more content out there. Static imagery is helpful, but 91% of buyers want more visual and interactive content.
Today, 360-degree Virtual Tours of completed properties as well as those yet to be built or under construction are possible. The former uses photo capture and stitching technologies to create immersive views of the built property, whereas the latter uses photorealistic rendering techniques to create the same while or before the property is built. Such virtual experiences significantly reduce sales costs, time, and effort while improving customer experience, convenience, and engagement.
Customization and Virtual Commerce
Developers and builders can provide a cost-effective and personalized buying and building experience for their customers by using detailed 3D modeling and real-time visualization techniques. The customer can choose from curated palettes of design styles, themes, and structural customization options such as open vs. closed plans. Real-world collections of fitting, finishing, and furniture products can also be showcased and sold in person, which can be a huge win-win situation for all stakeholders.
VR-enabled Design & Build
In terms of cost and time savings, a VR-integrated design and build process unlocks significant value. First and foremost, 3D and VR assist customers in better visualizing architectural designs. Fully immersive VR is especially useful for judging sizes and spaces. The best VR experiences also incorporate BIM data and actual product catalogs to allow for real-time customization, cost estimation, and decision-making. These integrated visual models can serve as a source of truth throughout the construction process. All of this translates to increased transparency, quality, overall efficiencies, and a significantly improved customer experience with little to no rework.
Because of advancements in display technologies and mobile computing, we already have accessible implementations of the aforementioned use cases that run on phones, tablets, and low-cost VR headsets. However, many of these are not fully integrated, are mostly deployed non-immersive (on a handheld screen), and do not fully realize the potential and true magic of VR as a technology.
Truly immersive, engaging, and well-integrated experiences frequently necessitate access to specialized, high-end VR headsets such as the Oculus Quest or HTC VIVE, as well as cutting-edge software engineering capabilities. Some of the more innovative and disruptive companies in the space are addressing this through VR-powered Experience Centers and integrated software solutions that make it more accessible and affordable to customers. As the next generation of Millenials and Gen Zs enter the housing market, such innovations will only become more scalable, ubiquitous, and necessary.
Speed up the process with VR
Everyone benefits from VR real estate technology. Not only buyers and sellers, but also agents, investors, and businesses. People can use VR from their living room couch because it is a remote viewing experience.
Because you don't have to prepare in any way to view a home, you can tour many more homes than you would normally be able to in person, and it gives you a much clearer picture of what the home is like than videos or photos can.
VR real estate marketing will become more common as the buyer demographic gradually shifts to one that is more technologically savvy. However, it is so simple to set up and use that even those with little interest in technology can benefit from it, implying that the opportunity to benefit from this new technology is right now.
Furthermore, by incorporating VR real estate tours into your marketing efforts, you can save money in other areas. Newspaper ads, postcards, flyers, local business advertising, webinars, and other traditional methods of real estate marketing may become obsolete once you incorporate an appealing VR tour into your homes. This enables you to save time and money while maintaining the effectiveness of your marketing strategy.
According to the WAV Group, listings with virtual tours are 40% more likely to be clicked on than listings without virtual tours. Increase visitor retention: According to statistics, websites with virtual tours are viewed 5-10 times longer than those without.
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