Sourcing prospects? Advertising open houses? Staging the perfect open house to woo guests and passersby? These tasks are the backbone of selling real estate, but real estate agents have historically been met with challenges using this process. According to the Canadian Real Estate Association, home sales are still lower than they were four years ago despite small monthly gains.
Sellers need to delve into the secret hopes, wishes, and dreams of potential buyers before convincing them that this is the property for them. The one problem? Real estate agents aren’t mind readers. But, virtual reality can go where no other agent has gone before.
Virtual Reality Video in Real Estate
By replacing the imagination and photos with technology designed to transform a boring space into a custom property, virtual reality video is taking real estate marketing to new heights. Explore five ways virtual reality is changing the game for real estate agents.
1. Expand Your Search for Interested Prospects
Thanks to the globalization of commerce, people are no longer tied to one specific area when considering real estate. Whether you’re marketing properties to potential home buyers or commercial clients, virtual reality video gives customers an in-depth, realistic view of new and developing properties without ever stepping foot in the area.
2. Map Real Estate Development (or Redevelopment)
Research conducted by PwC Canada found that a high demand for commercial and industrial space combined with the challenge of limited vacant land means that developers need to reimagine existing properties to meet the needs of businesses. Virtual reality video is a cost-effective way for architects, developers, and designers to review a property’s assets and problem-solve ways to update the space to meet current needs.
3. Capture More Attention with Crystal Clear Images
Most people search available real estate listings online before they ever reach out to an agent or attend an open house. Among the biggest turn-offs for people searching for properties online are photos with poor lighting, distorted perspective, and unclear orientation. Virtual reality video lets users view properties with or without furnishings, look at the interior and exterior of the space and even peek into the pantry if desired.
4. Let Customers Stage a Home Themselves
Even after putting in hours (or days) into staging a home or office, real estate agents can still fall short when it comes to client expectations. Virtual reality video is putting the power of imagination back into the hands of customers and taking the hassle of guesswork off of the agent’s plate. Using a combination of mobile devices and virtual reality, guests at an open house can customize their experience by virtually staging the home themselves in real time, which helps prospective buyers make an emotional connection to the property.
5. Reduce Real Estate Marketing Expenses with Technology
Let’s face it: Selling a home or property can take time, sweat and patience. But, landing a sale doesn’t have to soak up your entire marketing budget. Virtual reality video can take a chunk of the legwork out of selling a property so you can spend more time connecting with clients. When the costs of photos, online marketing, and advertising, staging furniture and supplies are accounted for, simply marketing a home can require a large investment. Virtual reality reduces the amount of time needed to create a compelling listing while simultaneously eliminating manual tasks.
Take Your Real Estate Business to the Next Level
As customers start to see virtual reality used more frequently in the real estate market, they will begin to associate this technology with credibility. To save yourself time and money while boosting your reputation for cutting-edge real estate marketing, consider adding virtual reality to your list of marketing tools.