How is Virtual Tour Transforming The Real Estate Industry?
Updated on Apr 20th, 2021
Are you leveraging VR in your real estate business? If not, then maybe you are losing some great business opportunities! The world today has transformed drastically and is moving towards a new age of digitalization. In such a digital environment, VR has emerged as an effective and powerful tool for the global market. Virtual reality or VR has become much more prominent in the global market because of more accessibility and affordable services. Many industries, including the real estate industry, have been very successfully using VR in transforming their traditional workflow into a more evolved one. Virtual Tour is one such example of VR.
The real estate industry has quickly adopted the virtual tour in transforming their businesses. Despite the fact that almost 48% of the brokers have confirmed that keeping up with the technology is the biggest challenge for them, 3D virtual tour is gaining momentum among the most competitive agencies. Also, the recent adoption of drones in the real estate industry, almost 22% to be precise, increased the selling rate to almost 68%. That’s the magic of virtual reality in transforming the business and optimizing profits! So, let’s learn about virtual tours and how they can transform the future of the real estate industry.
What is a Virtual Tour?
Virtual tour, or VR tour, is a digital way of exploring properties through the use of virtual reality. It is a walkthrough technique that allows the real estate buyers to view the properties online without going to the actual location. The viewer can take a virtual tour of any desired property using real estate mobile apps and can view various rooms and other features of the property seamlessly by simply swiping the screen. VR tours usually have floor plans so visitors can better understand the space. Background music or sound effects are also often used to create atmosphere. Moreover, VR tours can also be made for objects that have not yet been completed. Using a technique known as VR visualization, a photo-realistic interior can be created from a plan.
How a Virtual Tour For Real Estate Can Help You Close More Deals?
Virtual tour is, without a doubt, the most powerful tool that has emerged for the real estate industry. It facilitates faster selling and optimizes profits for the businesses. According to sources the buyers that fall within the age range of 53-71 seeks virtual tour more than anybody else when exploring a property. Let’s have a look at more benefits of the virtual tour.
1. Help the Real Estate Agency To Stand Out From The Crowd
With VR tour, you can seamlessly build success for your real estate industry. We all know that the market segment is changing drastically and today almost 272.6 million people in the USA hold a smartphone. That makes it easy for every real estate brokers and managers to reach the audiences and convert more leads. But, offering virtual tours and 3D plans could really help the agencies to stand out from the market and build success for the business.
2. Present The Property More Efficiently
With VR tour, the realtors could present the properties in a more good way to their valuable clients. The real estate managers can display the properties in an excellent condition every time. That means, the users can view the properties virtually in the daylight, and in a neat and tidy condition. That will surely increase their chances of buying that property.
3. Enhances The Customer Experience
As discussed in the above two points that with the help of virtual tour the realtors could enhance the property viewing segment and could seamlessly present the property in a more effective manner. That all drastically improves the customer experience. When people seek properties online, then virtual tour tends to improve the searching experience and provides a memorable experience.
4. Help Online Viewers To Picture The Space
Virtual tour enables the people to view the properties in a more effective way, that is, it offers a realistic view of the properties. This makes it more convenient as compared to the regular images. That’s because, the users can explore the entire property with a 360 degree view and could imagine themselves living in the property.
5. Benefit Realtors
Considering all the points mentioned above in the article, we can surely say that VR or virtual tour significantly improved the real estate market. With VR technology, the vendors could possibly enhance their customer experience, and that in turn will increase their chances of conversions.
Innovative VR Applications For A Perfect Property Marketing Strategy
1. Virtual Walkthrough
A virtual tour or a digital walkthrough is a cost-effective option for the real estate brokers and managers, that could be employed in the real estate business. A 360 degree virtual tour is easy to build and deploy since they require only few images and drone screenshots. You can even create your own 360 degree virtual tour by clicking some pictures with your 360 camera and uploading them on virtual tour software.
- Fast execution
- Improved brand name
- Compatible with VR
- Quick Deals
- More learning time needed
- Takes normally 3 hours to view a single property
- Doesn’t work well for the large projects
2. 3D Floor Plan
A 3D floor plan is another application of VR in which 3D models of properties are created with the help of dedicated CAD artists. It is the virtual model of the building or the home, through which the realtor could convey the architectural plan to the constructor or the client. The structure of the rooms, its sizes, location of doors and windows, etc. are some of the common aspects that can be accurately conveyed through 3D floor plans.
- Saves time and resources
- In-depth visualization
- Seamless adjustments
- More expensive than 2D plans
- Unable to showcase the entire property in a 360 degree view
3. Virtual Reality
Virtual reality is the broad concept which can be leveraged for enhancing the workflow of the real estate industry. Virtual tour apps are one such aspect of VR. A virtual tour app is somewhat different from the virtual walkthrough software or the 3D floor plans. For instance, if you want to showcase a property which is not so big, then you can use a virtual reality app for that. In contrast, when you have to show the detailing of a complex building or structure, then you can use 3D floor plans for that. Virtual tour for real estate significantly reduces the time and cost of the resources and establishes a good relationships with the customers and investors for further collaboration on the projects.
- Facilitates personalized visualization
- Enables the user to add special effects
- Works for any type of projects
- High level of interactivity
- Increased level of trust
- Longer development time
- Limited audience outreach
- Requires full-cycle development team
How Can You Benefit From Building A Virtual Tour For Real Estate?
According to sources, 50% of the buyers search for their dream house online while only 28% contact a real estate agent for that. Things are changing drastically in today’s digital world. People, especially Generation Y, are very actively investing in the real estate market. So, it is obvious that they will leverage the online resources more as compared to the previous generation. Hence, utilizing virtual reality and developing your virtual tour software for real estate could surely provide you more benefits. The powerful virtual tour software can enhance your customer services and could make you stand out from the competitive world. You could seamlessly outperform your competitors and could not only help your users find the perfect property but could also simplify their buying process.
Hence, if you are planning to invest in a virtual tour software, or if you are looking for any custom real estate software to make your business more efficient, then Matellio is the one-stop shop. At Matellio, our expert developers and qualified team of Engineers help you develop a cost-effective and scalable product for satisfying all your business needs and taking your real estate agency to new heights. Feel free to contact us anytime and we would be glad to help you.
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