While virtual reality has dominated the video game industry, it’s quickly becoming a game-changer in the field of real estate and property development.
Virtual reality (VR) technology immerses the viewer in virtual surroundings through computer-generated graphics, scenes and objects that appear real.
In the world of real estate, VR technology allows potential home buyers to find their dream home, and investors to find their perfect investment from the comfort of their couch. While helping off the plan realtors, developers, and home builders reduce costs, save time, reach a wider audience and foster connections with buyers.
Let’s explore five key terms that will help you learn how to use VR technology to improve your real estate business.
1 Virtual Viewings
Virtual Viewings use VR technology to allow buyers to visit off the plan properties which haven’t been built.
Picture a day of traditional property selling: it most likely includes waiting for your clients, confusion over directions, and trying to explain how 2D floor plans and photo renders translate to the finished product.
Virtual Viewings allow potential buyers to view dozens of off the plan properties from the comfort of their own homes or your office. Once your buyer puts on the VR headset or prepares another smart device of their choice (tablet or phone), they can explore the property in 1:1 scale as if it was built. They can even experience 4K drone scanned views from the property. They can easily visualise what the finished product will look like and have certainty in the future design. Virtual Viewings save time, are cost-effective compared to traditional display homes or suites and position you ahead of your competition as a forward-thinking agency.
Virtual viewings can be conducted as face-to-face guided viewings (where you and the buyer are in the same location), remote guided viewings (where you and the buyer are in different locations but you are still controlling the experience) and solo viewings (where the buyer is exploring the property by themselves in their own time).
2 Guided Viewings
Guided viewings are controlled by the realtor or sales agent. They use a tablet to guide potential buyers through their off-the-plan properties. The buyer can be wearing a headset or using a tablet to view the property. Guided viewings can be conducted face-to-face or remotely, allowing more flexibility for you and your buyers. Guided viewings require a smaller production budget than traditional display suites while creating a connection between the customer and the property. Watch the video to see the difference between face-to-face and remote guided viewings.
3 Solo Viewings
Solo or private viewings are different from guided viewings because they allow the buyer to explore the property independently at their own pace. They can choose to view the property through a more traditional clickable tour, where they click on the screen to navigate around the property. Alternatively, they can walk around the property in 1:1 scale using AR technology through their smart device, or they can put on a headset and explore it in VR being completely immersed in the design. Solo viewings can be experienced from any location with a device of the buyers choice. They are particularly powerful during the discovery and dreaming stage at the start of the buyer’s journey.
4 Virtual Staging
When a potential buyer walks into a property, they envision their potential life in this place. Where will our family eat breakfast? Is this where we’ll watch the sunset after work? Or, can I picture my children running through this home?
It’s difficult for potential buyers to look at a 2D floor plan and picture their future lives there. However, staging an off the plan property before it is built is near impossible. The use of photo renders and display suites somewhat help however they can’t replace the real thing.
Virtual staging is the process of using VR technology to stage an off the plan property using non-physical furnishings. In layman’s terms, it is having a virtual model which includes all furniture and styling.
Using VR technology allows you to style the property in as many different styles as you want and allows the buyer to easily compare them all. It inspires your potential buyers to imagine their future lives in the property and gives them certainty in the purchase, all while saving you money.
5 Architectural Visualisation
Architectural visualisation involves the marketing efforts that go into promoting a property for sale. A firm that specialises in architectural visualisation can use VR technology to help property developers, home builders, and real estate agents to clearly communicate off-the-plan properties to their potential buyers.
We all know the saying, “a picture is worth a thousand words”. If that’s true, then 4K drone scanned views are certainly worth a million! While rendered photos and 3D models can give potential buyers an idea of what the finished product will look like, they don’t fully spark the imagination or demonstrate the properties full potential.
Through VR technology, potential buyers can walk around off-the-plan properties in 1:1 scale before construction even starts. While developers can show buyers different colour schemes and floorplans, home builders have the opportunity to share layouts and home designs with only the click of a button. Architectural visualisation can position an agency or company as more professional with access to innovative selling tools. At EnvisionVR we partner with architectural visualisation firms to offer the best in architectural visualisation. See an example of our partnership with leading architectural visualisation firm Premier3D, who offer our 3d virtual reality services as an add on service to their customers.
In an increasingly digitised and interconnected world, EnvisionVR offers the tools to immerse buyers and increase conversions. This is a great opportunity for property developers, home builders and realtors to provide the best services and fulfil the evolving needs of their clients. Experience the freedom of complete flexibility in the virtual viewing experience through the use of EnvisionVR’s products. For more information about face-to-face guided viewings, remote guided viewings and solo viewings, please explore EnvisionVR’s product page and take the next step towards an innovative future.