4 Benefits of using Virtual Reality for Real Estate in 2020
Virtual Reality (VR) is poised to completely change how we consume content, information, and entertainment in the future and it can very effectively be leveraged in the Real Estate industry to help clients get a better grasp of your real estate offering.
But before we get to the benefits, first lets talk a little bit about VR and how it relates to Real Estate.
Virtual Property Tours: VR allows prospective clients to view any space or apartment unit whether resale or presale from anywhere in the world and provides an authentic and immersive experience like no photograph or video can provide!
There are 2 ways to conduct Virtual Property Tours -
The first is Full 3D virtual tours that use computer-generated environment and objects. This is the most advanced iteration of VR. It lets clients interact (to a degree) with the environment and “move” around just as they can in real life.
The second is 360 tours that use 360 video shot with a 360-degree camera. The clients still experience a very immersive experience where they can look around and inspect the space from different angles but cannot actually move freely or interact with objects.
Creating VR content for real estate can be rather simple these days. For 360 degree video tours, all you need is a 360-degree camera like the affordable Ricoh Theta V or the higher end Ricoh Theta Z1 to shoot your content. Check out this short Video -
Of course, your clients should wear a VR headset to get the most immersive experience and what better way to improve your brand awareness than by providing your clients with a Custom Branded Cardboard VR Headset with your Company’s full branding right on the Headset.
With that introduction out of the way, here are 4 benefits of using VR for Real Estate Marketing and Promotion in 2020 –
Save Money: VR may seem hi-tech and expensive but the expenses with VR are small compared to expenses with traditional advertising materials (printed and online). As an example, to create 360 tours, the camera costs just $500. Of course you can take it a step further with Full 3D virtual tours that use computer-generated environments and objects if your budget allows for it.
Save Time: Every property trading interaction comes with tangible and intangible costs to both realtors and clients. Using VR, Realtors can send URL links with the VR footage to specific clients, allowing the client to view the tour at their convenience. While the final purchase decision is unlikely to be taken on the basis of a virtual walk-throughs alone, a VR experience can definitely help pin down the most promising leads and save plenty of time overall.
Emotional Engagement. Unlike regular photos and videos, virtual tours provide a high degree of immersion and it feels a lot more real than video. Prospective clients can don a VR headset and virtually “walk” through a property to get a much more detailed insight into the space. There’s no rush, only freedom of exploration and interaction for your clients. It surely helps hook your clients, by forming that emotional connection for them.
Virtual Open Houses. Virtual Reality eliminates distances and makes the whole world a lot more accessible. You can conduct “Virtual” Open houses without the need for your clients to be there with you physically. With VR, you can offer your property tours to not just to people in your city but to anyone across the world.
With the right VR approach, the real estate industry can future proof their marketing and promotion efforts– starting in 2020. Contact Us to see how our Custom Cardboard VR viewers can help in your next Real Estate campaign.