VIRTUAL REALITY REAL ESTATE TOURS AS A REAL ESTATE MARKETING TOOL
Virtual reality has been making waves since 2010 when the first prototype of the pioneering Oculus Rift was introduced. Since then, technology giants like Google, Samsung and Microsoft have recognized the potential of simulated environments and have all made huge investments and strides in advancing this technology.
VR is a potential game changer in many fields and for the real estate sector it’s already transforming the way the industry functions, and solving many challenges that real-estate developers and marketing agencies have when it comes to successfully marketing and selling a property that doesn’t yet exist. The luxury real estate market is the most lucrative and highly competitive sector of all, meaning that the leading companies that specialize in this area are making the most out of the latest real estate marketing tools to attract potential clients by offering what their competitors can’t. Virtual reality Real Estate Tours are the most powerful cutting edge marketing tools out there.
USE OF VR REAL ESTATE TOURS AS A REAL ESTATE MARKETING TOOL
Typically, clients visit multiple properties before deciding on the one they want. This requires a lot of time and things get complicated if a property is far from where a client lives. In this case, visiting a property is not only time-consuming but can be expensive. VR real estate technology offers the solution by providing a buyer with an authentic ‘feeling’ of the space in a way that no ordinary photograph, video, interior design rendering or traditional 3d visualization services can provide. It’s an extremely immersive and engaging experience as it allows the client to feel as if they inside a building itself, no matter where they are in the world, just by using a VR Headset.
Matterport and Floored are two of the larger players in the virtual reality real estate field that also includes hundreds of startups. All of these companies specialize in taking popular technology, originally created for gaming market, and applying it to the world of virtual reality real estate. Different companies occupy different niches: Virtual Xperience, for example, specializes in creating VR real estate tours of properties that are under construction, while RoOomy’s platform is a real estate marketing tool and design service allowing buyers, real estate agents, and others, to see how a space would look with different furniture and design configurations in real time.
The emotional connection with a beautifully rendered property experienced through a VR real estate tour can be a very powerful thing and for these companies it has already been a roaring success. This moment where users are able to visualize their own lives in a space, where a house becomes a home, is what really seems to sell. Virtual Xperience is a marketing company providing digital services that help people explore and experience real estate in just this way. In Virtual Xperience’s case, this means creating VR Real Estate Tours of properties that don’t exist yet as real estate marketing materials for, in many cases, literally holes in the ground.
MARKETING AND REACHING THE RIGHT AUDIENCES WITH VR REAL ESTATE TECHNOLOGY
Thanks to VR real estate technology, location is no longer a limit when it comes to marketing a property. Have someone interested in your property in New York but lives in Dubai? With the use of VR headset, the barriers caused by distance are eliminated as the buyer can be transported to the other side of the world in an instant. This means that you are easily able to attract potential buyers from all over the world, rather than being limited to your local area and thus increasing the property`s selling potential.
DIFFERENT TYPES OF VR REAL ESTATE TOURS FOR DIFFERENT TYPES OF CLIENT
The 360 VR tour is a real estate marketing material that allows the buyer to feel what it’s like to be in the unbuilt property through the use of highly detailed 360-degree renderings where the buyer is able to look around and zoom in as if they were standing in the center of any given space. Real time interactive walkthrough VR real estate tours take it a step further by allowing the buyer to step out of the 360 and freely walk through the property itself providing an even more immersive experience. These two 3d visualization real estate marketing tools provide unique abilities that no other product in the industry can offer meaning that virtual reality real estate tours are now widely sought after, having now become the gold standard in innovative marketing solutions.
BARRIERS TO ADOPTION OF VR REAL ESTATE TECHNOLOGY
You no longer need to spend large amounts on an Oculus Rift or HTC Vive headset to give a VR real estate tour a try, you can now step into a property right from the convenience of your mobile app. The Android or iPhone handset in your pocket is a real estate marketing tool in its own right when paired with a $20 Google cardboard headset that uses your phone as it’s screen. But the coming release of new low cost standalone VR headsets, such as the Oculus Go next year, coupled with the rapid expansion of WebVR, which allows users to access content without having to download a VR app, is going to be the real game changer. This will erase some of the current barriers to adoption of VR real estate technology use on a large scale.
THE FUTURE OF VIRTUAL REALITY REAL ESTATE TECHNOLOGY
Virtual reality is transforming the real estate industry by saving agents and clients time and money, increasing efficiency and engagement, shortening property cycles, helping agents win more listings and decreasing barriers to sale for off-plan properties. The simplest forms of virtual Real Estate Marketing Materials (360-degree look-arounds) are already widely accessible to any realtor and potential buyer alike. As for more immersive and sophisticated VR experiences, there are lots of talented and innovative companies that can help real estate agents and marketing agencies create them. The use of virtual reality as a Real Estate Marketing Tool is therefore set to continue to grow steadily, with analyst firm Canalys expecting more than 1.5 million VR headsets to ship in 2018 alone.
Moreover, with tech analyst firm Telsyte predicting VR penetration reaching 25.5% of households in the next three years, it’s evident that VR real estate technology is here to stay. In fact, VR is becoming so accessible that it’s on track to becoming a giant $215 billion dollar industry by 2021. Those who do not adopt VR as a real estate marketing tool will only lose out in market share as more and more real estate agencies embrace virtual reality technologies to their advantage.