Virtual reality (VR) is set to has a huge transformative impact on real estate business, acting as a game-changer where realty asset firms can efficiently plan, manage and streamline processes, provide an enriched experience to the customer and gain a competitive advantage. Here are 10 tips for real estate businesses to leverage the power of VR.
And with VR, buyers could literally walk through the property from anywhere in the world, before the property has even been built. VR could also be a valuable marketing tool for listings currently available to rent.
Buying a Home
One important use for VR is showing homes to potential buyers. Prior to visiting a property, a buyer can “walk through” a prospective area to see whether it meets his or her desired specifications. VR also allows the comparison of an area that wouldn’t be easy to see, such as a roof or a crawl space directly.
VR can allow homebuyers to check whether a location is close to transit hubs or proximity to a nearby supermarket or mall that appreciates a location – and vice versa. In fact, investors and landlords can use it as a marketing tool to sell or rent their properties.
VR tours can help sell new construction properties to clients before completion, allowing them to see the space ahead of time when planning home furnishings and design touches. The virtual spaces are more accurate than 2D photos that could be airbrushed or miss important design elements; groups of prospective buyers can also experience VR at the same time, saving everyone time and travel expenses.
Staging a Home
Home staging is a real estate technique to decorate homes in a welcoming manner that increases the probability of the property to be sold. Thanks to virtual reality, potential buyers do not even need to travel to view properties anymore, they can do so at their home.
Another interesting use case involves buyers who struggle to imagine what a room would look like, phsyically projecting themselves into the apartment. With VR, they can tour a home and see how furniture and decorations work in the room before buying the items in the digital store and dropping them onto their three-dimensional tour with a flick of their wrist.
Another way that VR can be used is to promote ongoing residential construction projects to clients. If residential developers display completed architectural visualisations to their clients using VR, they can develop greater interest in their property and thereby hasten the sale of the property. Similarly, commercial construction firms may use VR to show off office and retail spaces that have not been built yet, which can spur pre-lease/investment interest in those markets.
Renting a Home
They would also help real estate agents and investors simplify property-buying and renting decision for their clients, increase operational efficiency, raise the client experience, and give them a competitive edge. I believe that VR, having shown strong endurance and creative power since the 1990s, can definitely stand the test of time. When we understand what we are getting into, VR becomes an effective and inexpensive marketing tool for real estate companies.
Virtual reality has several real-estate applications, including home tours. Agents can use a Matterport product that converts a three-dimensional space or environment into a digital 3D scene that can be explored with a VR headset and 360-degree views throughout the property, including virtually moving around and exploring home amenities, utilities and features.
They can make decisions about using these photos or not using these photos. It really mainly makes the lives of the clients a whole lot easier. Someone can look online and decide whether they want to go physically see something without having wasted a weekend, several weekends, to find something.Agents benefit, too, by limiting the number of in-home visits with clients: It really means less talking to them and answering their questions. You don’t want to hear: ‘Hey, what is that thing, how do I turn it on?’ You don’t want to hear them say: ‘Hey, where is the switch for this?’ You don’t want to hear: ‘Hey, what about the – I don’t know the term, you know what I’m talking about – where is the switch for that?’
Buying a Commercial Property
VR is a technology that can support commercial real state agents, this tool helps navigate marketplace in a smarter way and connect to more people.
First VR takes out off the showing of the properties, this will allow your client to take a tour to any property around the world, and so you have more time to dispatch to a higher level, make better decision about your sales and closes deal much faster.
Virtual reality (VR) can also help your clients visualise their potential homes. Whereas photos and floorplans can only give broad-scale impressions, VR technology empowers your clients with the virtual experience of ‘walking through’ a property and seeing exactly what it will look like with every conceivable combination of wall colours and furniture layouts and in every lighting condition: thus helping them to imagine the potential functionality of the space as well as to emotionally bond with it.
Real-estate agents can use VR to market new developments that haven’t broken ground yet, which is quite useful in the residential or luxury property market, where your clients often live some distance from their new home, and may come from the other side of the country. Virtual tours give your clients an understanding of how close their new property is to schools, shops or offices, or what local amenities could make buying easier.
