The concept of virtual reality stemmed from video games, and technological advancements have been unceasing ever since. Progressively people have become used to fast emerging digital trends to such an extent that VR technology has entered and is set to dramatically change the landscape of visual real estate marketing in the near future. It might come as a surprise to many but according to a research by Goldman Sachs, there are currently 1.4 million real estate agents using VR for marketing, virtual tours and client communication.
Here is a brief overview of how VR is changing the scope of real estate marketing.
1. Adds value to the property
One of the best ways to compete with your competitors is to offer a service or product that they do not have. Virtual Reality is a recent introduction to the real estate marketing landscape with virtual walkthroughs and augmented reality experiences that dramatically enhance the experience of viewing luxury real estate properties remotely. Displaying a static floor plan of the interior and render of the exterior of an apartment or a house cannot compare to a virtual experience of presenting a virtual walkthrough of a property without visiting it in real life. This is an opportunity that works effectively for buyers by allowing them to view a luxury property from anywhere in the world saving the time and expense of traveling to view it in person.
2. Saves time and expense
The challenge of travelling from one luxury property to another over far distances can not only be exhausting for a buyer, but also very counterproductive for the real estate agent. It wastes time and adds a lot of cost with travel expenses, which could limit a buyer’s ultimate purchase interest in a property. Such a situation can be eliminated through virtual reality property walkthroughs and tours. Next level luxury real estate agents can use VR technology to showcase a luxury property to any buyer around the world allowing them to take a remote tour of a property without leaving their current location.
3. Profitable opportunities for real estate agents
With VR marketing luxury real estate agents now have a high-tech option that is feasible and lucrative for them to add as a unique sales strategy that makes remote viewings convenient for buyers from around the world. They can offer VR tours to attract a global audience of potential buyers. In the future, the ease of access will naturally drive more buyers towards agents utilizing VR.
4. Streamlined planning for luxury developers
Developers of luxury properties often face the challenge of not knowing exactly what the end product is supposed to look like for a specific buyer. In the future a potential buyer can provide their own finishing specifications and a developer can virtually modify a complete luxury home design or interior space without being boxed into a completed project that caters to only a select few potential buyers that show interest in the property. Virtual Reality has the power to change this situation for good. A potential buyer will have the opportunity to both view and experience different visual simulations of their dream home with VR allowing them to make a purchase decision that best suits their wants, needs and desires.
5. Extraordinary visual presentation
The competition between luxury real estate agents is steadily increasing. Now, every agent is looking for new ways to garner buyer attention to their listings. VR technology is rapidly evolving to fill that gap by allowing real estate agents to offer an extraordinary visual presentation of a luxury property to potential buyers on a global scale. While conventual marketing and communication will continue to play a major role, increasingly the expansion of high speed internet networks around the world has opened up a new frontier of undiscovered potential for luxury real estate agents to market their listing with VR technology.