A real estate is a goldmine in the present circumstances! Still, you could not believe?
Then see the results from the US Census Bureau, which indicates that by August 2019; 713,000 houses have been sold. What’s more, another 326,000 homes are ready for sale by October 2019.
What do the above-given data indicate?
It specifies that the given industry is currently in its golden period and is booming to such an extent that it has delivered a significant boost to the economy of the USA.
However, certain question arises in your mind when you make up your mind to venture into the given prospering industry:
- How can I outshine competitors?
- How can I win the hearts of people in this fast-paced real estate sector?
- How could I retain my existing audience?
To answer all these questions, we will proceed to further details in the article to unravel one crucial technology which is revolutionizing the given industry. That one technology is virtual reality or VR!
What is Virtual Reality? How it is Creating Ruckus in Real Estate
VR is the proper and effective utilization of computer technology, which has resulted in the creation of a simulated environment to provide users with an inner experience via a virtual 3D concept.
It is the latest technology which is creating a buzz in the real estate industry is VR. It has disrupted a lot of the sectors, and it is the real estate businesses which are fastest to adapt to the given technology.
It is so essential and promising that those companies which ignore it are virtually left behind by its competitors. The answer to your first question!
Now how it helps the real estate companies to satisfy their customers? The answer lies in the fact that it offers digital recreation of the real-life physical environment, properties in the given case; and helps the users to get an interactive and immersive experience.
Why users get an immersive experience? It is because a virtual world makes the property-lovers experience a genuine feeling about the features present in the properties they have selected most proactively.
Why is VR Gaining Immense Fame in the Real Estate Industry?
The VR technology has significantly impacted the working of the given industry by considerably reducing the bottlenecks and pains of scheduling appointments through its various benefits:
- Simple & Easy Acquisition of Software & Hardware
- Open-Source Platform to Support Aspiring Members
- Ecosystem & Networks are Interconnected to Each other
Thanks to VR, the Buying & Selling Process in Real Estate has simplified
Now with the arrival of smartphones, the whole procedure of buying property is simplified via a mobile app. Prospective buyers can log in to the given app and use VR headset to gain the virtual experience to explore the list of real estate properties effectively.
There are various ways through which the given technology can facilitate the enhancement of real estate sales.
- The first way is through providing direct visualization for the architects with customer feedbacks to adjust to changing marketing demand appropriately.
- The second way is to combining the physical and VR prototype to build a virtual prototype. It will allow customers to properly understand the product and win their trust to accelerate the deal rate successfully.
- The third way is the expansion of various properties looking scenarios by removing cost and space constraints for the customers. The given fact will enhance the experience among the customers to view different locations from multiple viewpoints at different times in a day.
The given three aspects help the real estate company to ignore the cost associated with the building of the VR models in their sales office. Besides, they also help in saving hefty expenses in building, installation, and construction of the properties.
The answer to your second question!
How Customers can Heighten Real Estate Experience using VR?
Now with the advent of the given technology, the customer can boost up their understanding of the real estate sector through the following aspects:
Intensify Experience through Guided Virtual Visits
It is just like a promotional video, but with a twist! It is produced and shot in 3600 and thus works wonders for the existing industry.
It will be a groundbreaking tool for those properties still in the construction phase because as the property dealers will be able to show the unfinished properties to their customers like never before.
It utilizes advanced techniques such as 3600 photography, 3D rendering, and video footage, to name the few. The photography technique uses stop-motion graphics and picture-in-picture to set the tone.
To show incomplete properties; 3D rendering is utilized so to give a better idea of the future home once it gets completed. The video footage is used to arouse an emotional response. Interesting, isn’t it?
Interactive Virtual Visit to take Experience to the next level
To take a further step to make the experience of VR more exciting; virtual visit tours could be utilized. They could eventually become a lifelong experience for any prospective buyer.
It is a well-known fact that most of the people have only heard about the given technology but not try out by themselves. So allowing them to try out the virtual visit will have a mind-boggling effect on their mind!
What’s more, the given experience is also required to be included in a mobile app just like a video game to make the experience among the property-hunters more interactive.
How to create an interactive experience? It is possible via hotspots which turn your attention towards different properties and allow you to walk through the property at your own pace virtually.
Virtual Commerce: The Best way to Beat Rivals & Retain Existing Customers
An innovative concept just like e-commerce but with some changes! The significant change is that it is virtual commerce which allows successive virtual visits to the customers with all the technical requirements present in the app.
No need to use complicated materials or heavy-duty computers! It satisfies the concern related to the experience gained by the prospective buyer.
It allows consumers to access the given form of e-commerce via the internet to get virtual reality goggles. Using them, the virtual tour of the entire house is possible just by sitting at the same place. Isn’t it exciting?
After going through the given article, the importance of VR in the field of real estate can’t be ignored. The article also reveals various aspects which the given technology takes into consideration:
- Customer Engagement is the Basic Mantra
- Transparency & Convenience is Vital to Eliminate Communication Gap
- Easy to Use makes Progress of Technology by Leaps & Bounds
So, opting for a Real Estate Web Development Company to design a VR-rich real estate design is the need of the hour. It will also assure a bright prospect for your real estate business in the future.