How Virtual Reality Is Reshaping the Real Estate Industry

Real estate agents across the world are feeling the benefits of embracing virtual reality. Virtual reality tours enable potential buyers and investors to spend longer exploring properties, and what’s more is that they allow them to do so at times that suit them, from anywhere in the world. More and more virtual reality headsets are being sold all the time, with growing numbers of buyers now expecting real estate companies to offer these facilities.

More property viewings

Virtual reality allows viewers to explore more properties in a short time frame, without the cost or fuss attached to visiting several real-world homes. It’s said real estate revenue from VR will reach $2.6 billion by 2025, with software developers working hard to make the experience more and more realistic and informative. Virtual reality tours are particularly convenient for buyers who are interested in acquiring property located some distance away from where they are based, including homes situated overseas.

Showcase homes under construction

VR solutions also enable real estate agents to showcase properties that are still in development, under renovation and that haven’t been built yet. Viewings can even be customised so agents can show viewers what homes will look like after walls have been removed, new facilities have been added and repainting has taken place with the click of a mouse. In the past, agents have struggled to sell new builds and properties under construction, but VR can easily address this problem.

Virtual staging stimulates interest

Virtual staging involves items including appliances and furniture being added to the experience to create a more authentic experience and help viewers imagine actually living in the home. Studies say it takes around 80% less time to sell staged homes. Still images and text alone just won’t cut the mustard in today’s modern digital world. Many real estate agents are able to provide their clients with VR headsets if they don’t have them already so virtual viewings can take place.

A virtual library of information

You can add all sorts of information to VR tours so any question would-be buyers are likely to ask is covered. VR tours generally come in two forms, which are guided tours and interactive tours. Guided tours are comparable to promotional videos that can be viewed via VR headsets, whilst interactive tours can be customised in line with the needs of viewers. In an interactive tour, viewers can explore properties in a manner that suits their requirements, clicking on hot spots around the property to assess them in detail and gain access to key information. VR is often offered alongside offer features like mortgage calculators and search functionality to deliver an incredibly informative experience. Voxel is just one market-leading company producing richly engaging VR experiences for property viewers.

A constantly evolving facility

Once you have started to provide virtual tours for buyers, it’s a good idea to request feedback from clients so they can tell you what works and what doesn’t. When you have this feedback, you can easily make changes to the experience to tailor it towards the needs of buyers. Around 95% of property searches begin online, with growing numbers of buyers now expecting to be offered VR facilities. This demand is set to grow even further over coming years. VR experiences offer an incredible return on investment, and although interactive tours take more time, effort and money to produce, they can deliver an outstanding customer experience.

Find the right VR developer

Voxel is a tech company that aims to revolutionise how real estate is bought and sold and provide the most immersive real estate experience possible. The team provide user-centred applications and products for companies based around the world, including various VR solutions. When VR tours are available, would-be buyers don’t need to be rushed around properties and can spend as much time exploring them as they need to, at no risk or loss to the real estate agent. The capabilities of virtual reality are growing all the time, so if you are yet to embrace VR and augmented reality technology, now may be the perfect time to take a closer look at the pioneering solutions that are available to you.