With the reduction of the costs of software and hardware for Virtual Reality, in recent years this technology is widespread in various sectors, including Real Estate. Today, agencies and Real Estate agents use Virtual Reality to attract customers, speed up the sale and reduce the cost of visiting properties.
Typically, visiting houses takes a long time, especially if the property is not located nearby. In this case, the operation is not only time consuming, but costly, too. Virtual Reality technology solves these problems, allowing the client to virtually visit the property without having to reach it.
What can Virtual Reality do for the Real Estate sector?
Virtual Reality finds an ideal roommate in Real Estate. Its potential applications, in fact, perfectly fit the needs of the sector. Let's have a quick look at what Virtual Reality can do for the Real Estate sector.
Real Estate agents know this well: selling a property for residential or business use takes time and patience, even more so when the building or the customer is geographically distant. However, by reproducing the property in Virtual Reality it will be possible to visit the structure remotely, saving time and saving money. Within minutes, potential buyers or tenants will be able to evaluate dozens of housing solutions and choose more carefully what is suitable for them.
The virtual tour can be carried out in two ways: as a simple guided tour in which the customer is projected within the virtual environment, but without the possibility of interacting with it; or as a real interactive visit, in which the user can choose where to move within the environment and interact with the objects in it.
By working with Virtual Reality, something not yet realized can obviously be shown. Real Estate marketing experts, architects and agents always have some difficulty in promoting buildings still under construction, since a simple 3D drawing or physical models do not give an exact idea of what the property will be.
Virtual Reality can meet everyone's needs: those who sell the property can show it in a realistic way even before its completion, while potential buyers can preview the exteriors and interiors.
Thanks to Virtual Reality, architectural visualization has become much cheaper and more engaging, functioning as a powerful Real Estate marketing tool.
One thing is to try and sell a property that is still bare, another one is to show it already furnished and decorated.
Already in the 1980s, Real Estate agencies had understood that to sell a property, the client had to feel “like at home". To help them develop this sensation, they set up houses for sale with the help of interior designers. The result? The time to sell the property was almost halved.
The "staging" of Real Estate today is simpler and cheaper thanks to Virtual Reality. Showing a tastefully furnished, welcoming and captivating house or apartment on a virtual tour helps undoubtedly capture the attention of the client and stir positive feelings in him.
If virtual staging helps to make a home welcoming, at a later level it can become a v-commerce tool. This term refers to sales stimulated directly by the virtual environment. For example, imagine that the furnishings within the scene can be customized and purchased: the home buyer could be redirected to an online store, choose another piece of furniture, a curtain, a lamp and insert them in the virtual environment. By making the changes, he can shape his future home according to his preferences.
The evolution of e-commerce goes in this direction: through Virtual Reality you can live a superior, fun and engaging shopping experience. V-commerce thus promises to revolutionize the shopping experience also in Real Estate, involving the client to a greater extent.
Real estate agents or owners often have to answer tenants' questions: how do you use the thermostat, where are the meters located, how does the alarm system work? This is especially true for those who rent apartments for short holidays.
The Virtual Reality technology can also be useful in this case. Tenants, wearing VR headsets, will be able to immerse themselves in a virtual simulation of the same house they are in, and be guided in solving problems. Virtual instructions thus improve the lives of guests, who will have a carefree stay, and also of the owners, relieved of the task of personally instructing each tenant.
Virtual Reality is an added value in various businesses, including the Real Estate sector. We summarize what are our main advantages in our opinion.
Thanks to Virtual Reality, selling and buying a house is a faster process. Thanks to virtual tours, it will no longer be necessary to spend whole days visiting the properties, perhaps located kilometers away from each other. Real Estate agents and buyers can simply use a VR headset to preview a large number of properties and make at least one preliminary choice.
Even the most advanced Virtual Reality systems that offer tours with high quality graphics have a quick return on investment. The costs faced to present the properties in a virtual way, in addition to creating attractive tools, allow us to save on advertising materials and physical staging of homes. The virtual architectural visualization also allows to reduce the costs of making real models.
Virtual Reality eliminates distances: those between buyer and seller, and those between people and Real Estate. With virtual tours, Real Estate agents can offer residences, holiday homes and offices also located in other continents, expanding both the range of the facilities they offer and the potential customers. This is a determining factor in an increasingly globalized world, both from the point of view of business and from that of individual movement. Virtual Reality is the perfect tool for a Real Estate market with an international perspective.
Interactive virtual tours, virtual staging and architectural visualization offer total and engaging immersion for the user. Compared to traditional sales tools, a Virtual Reality experience is more intense and participatory: if the potential buyer will "feel at home", completing the sale will be easier and faster.
Virtual Reality allows you to create incredible 3D tours and to "stage" the properties in order to make them attractive to clients. In addition, it helps to show properties located far from the buyer and inconvenient to visit.
This technology has already started to transform the Real Estate sector and in the coming years it can do it even more deeply. If up to now, in fact, it was mainly the large Real Estate agencies that exploited it, the more accessible costs could give the go-ahead even to small businesses.
Virtual Reality has all the potential to be a growth factor also in the Real Estate sector, which is experiencing a delicate period in several countries. Real Estate companies that choose to adopt this technology will be able to count on one more card to be successful on the market.