Virtual Reality and Real Estate: A Perfect Match

20 March 2020

The virtual reality nowadays is used for various purposes. It is widely applied in such spheres as education, art, healthcare, entertainment, sport, architecture, media, and others. VR has not spared the business. Real estate investing is not an exception. 

Further, we will describe the most common strategies of how real estate agents and realtors can benefit from virtual reality. These methods are applicable both for the beginners in the real estate industry and also for skilled professionals. 

VR Staging

VR staging is the process of furnishing or renovating the house with the help of VR technologies. Staging can also be used by real estate agents in order to show the commercial or residential property to potential clients without visiting the office, the house or the apartment. 

VR Staging
VR Staging

This technology can be utilized via mobile devices with specialized applications or through the features embedded into websites. The VR headset allows the buyer to imagine the property in bright colors, in a far more realistic way than in the pictures. 

VR Guides 

VR guides are a perfect solution for real estate agents and homeowners who are dealing with short-term rents. The technologies of virtual reality come in handy when there arises a need to show the facilities of the temporary home to the tenants. With the virtual reality glasses, the potential renters are able to have the apartment tour in advance, without visiting the property. Thus, VR guides help to reduce travel costs significantly. 

VR for New Construction Homes

Virtual reality can be applied not only to create virtual guides and to furnish the house. Another great way to use VR is to make a virtual tour of the property that is under construction. It is hard to rely on the photos of the property that is not built yet, that is why the solution to this problem due to using VR means is the perfect idea for real estate investors. Applying virtual reality tours for real estate is a fantastic way to sell the piece of real estate until the end of the construction period.

VR Technologies for Real Estate Agent Business

Innovative methods in business usually provide more possibilities to attract new clients and maintain the loyalty of the existing ones. Accordingly, this results in the growth of income. 

In the next paragraphs, we will describe the benefits of applying virtual reality to boost your sales, make more appointments with the clients, establish long-distance relationships and improve your marketing strategy

Virtual Reality Technologies for Real Estate Agent Business
Virtual Reality Technologies for Real Estate Agent Business

More Appointments

The responsibilities of realtors always include a large number of meetings, showings, and discussions with the clients. These events usually require a lot of time and effort. With VR technologies it is easier to schedule the appointments because the clients have the opportunity to experience a virtual tour of the property before the meeting. This saves time and energy for real estate agents and gives the clients the idea of what to expect from the showing in advance. In addition, the VR tour is more useful than photos – it helps to provide the fuller picture.

More Sales

The virtual image of the desired property encourages the investors for the purchase. They have the opportunity to examine the property as more times as they wish. If the property is not furnished yet, the potential buyers can use the VR staging that we described previously. The VR-tour has a deeper impression on the clients than photos, so this is one more incentive to buy the property. 

Establish Relationships with Long Distance Investors

Location is the most vital factor for every real property. Real estate investors tend to buy the property in the local market due to various reasons. One of the main reasons is the distance. The properties that are located at large distances require additional expenses for transportation that may cause inconvenience for both clients and realtors. The VR technologies will save the costs in this situation and facilitate the larger amount of showings and sales. 

Virtual Reality Marketing
Virtual Reality Marketing

Virtual Reality Marketing

Virtual reality is an effective tool for real estate marketing. VR has a lot of benefits for buyers: 

  • easy access;
  • interactive mode of viewing houses;
  • the innovative approach that arises interest in buyers. 

Virtual reality is also applicable in terms of developing the real estate agent’s personal branding. Both sellers and buyers strive to get a unique experience with the real estate agents, that is why the strategy of applying VR is increasingly effective. 

Some Tips On Developing Your Own VR-Experience 

It may seem that starting to apply virtual reality for real estate business involves additional expenses for special equipment and strong programming skills. However, the real state of affairs is different. In the next paragraphs, we will provide some tips on using the VR technologies in the real estate industry.

Acquire the Camera

You need to purchase a special VR-camera with two lenses. Each lens makes a photo with a 180-degree viewpoint. Then with the help of special software, these two photos are merged together to create a whole picture that can be observed from different viewpoints. 

Besides the camera, you need some other specialized equipment, like a tripod, that can be purchased from the shops that sell VR-cameras. The price of the camera is quite affordable, some of them cost even less than 200 dollars. 

Take the 360 Photos

A great way to present your property to the potential buyer is to make a 360 photo of each room separately. To make a 360 photo, you need to place the camera in the middle of the room on the tripod. Most cameras can be operated from the distance with the help of the smartphone. Then repeat this process for every part of your house. Also, you need to take multiple photos in the vast areas of the property, like long corridors. In this case, you need to place a camera along the straight line. This approach will create a more realistic view of the property and impress potential buyers. 

Virtual Reality 360 Photos
Virtual Reality 360 Photos

Subscribe to Specialized Service

There is a number of tools for VR-experience that provide the ability to apply hotspots into the photos. Hotspots are the buttons for 360 environments. These buttons are very convenient and allow people to move through the house. Hotspots help people to create a better impression of the property. If you want to outsource this task, you may pass it to the freelancer or the company that provides such type of services.

The Bottom Line

Virtual reality can be the perfect additional tool to increase your chances of a sale of real property. The competition requires innovative approaches, and the VR technologies are very useful in this matter. A real estate agent should keep up with the times, that is why he or she should definitely try to make a VR staging, create the virtual tour within the property, or use virtual reality to demonstrate how the new construction house will look when the building is completed. 

Using virtual reality technologies do not require putting in lots of money and involving specialists. You can manage this task by yourself by purchasing affordable equipment and studying specialized online tutorials. After making the photos, you can add the hotspot buttons that are available after the subscription to VR experience services. 

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