How Real Estate Industry Adopt VR Virtual Tour

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virtual tour staging

What a magical sunny day! Now I’m performing inspection the fantastic and elegant duplex garden flat in San Diego, US. I walk past the living room and towards the modern and vast bedroom, all the deco and soft furnishing is demonstrated with the owner’s taste in fine art. When I nose to the spacious kitchen, there comes a Louis Armstrong’s jazz play in the background, the outdoor patio is made through the floor to ceiling window, everything here is just the exactly plan I want to redefine our next cozy home….EXCEPT I’m not in States, I’m sitting at my Taipei office 6,773 miles away, wearing the Google Cardboard.

In most of VR experience and acceptance for public, are about the game industry. However, the real estate industries caught the point of advantages with this technology. They invite tenants and buyers walk through whole floor to check the interior, or step out to the balcony viewing the skyline, all inspections are accomplished just sitting on the couch.

How Real Estate Industry Thinking In VR ?

According to a study by Goldman Sachs Research in Jan 2016, VR software will have a $35 billion market by 2025, and $2.6 billion would be targeted for real estate industry.

Since the VR experiences delivered are quite phenomenal, buyers and tenants can get the conscious that THY HAVE ALREADY BUYING OR RENTING, even sometimes listing doesn’t actually exist yet.

So, many developer or real estate company in the world would like to invest tens of thousands of US dollars to create customizable virtual tours for different market segments.

“It will be especially beneficial for our international projects in the Middle East to build an even closer rapport with clients…”Hamish Brown, partner at 1508London, retrieving from The House Shop Blog
“We sell based on emotion and attaching that emotion to a vision….Imagine a buyer walking out onto the terrace and thinking: ‘If I bought this home and was having breakfast here, this is exactly what I’d see…”Matthew J. Leone, the senior vice president of digital marketing for Terra Holdings, the parent company
“The great thing about using this type of new live streaming technology is that buyers from all over the UK, and even overseas, can get an accurate and detailed view of the property. Even better, they can ask questions directly to the homeowner as they move around the property…” James Cleland, head of Knight Frank’s Ascot office, retrieving from Country Life
“It plays into the growing desire among buyers to acquire as much information about a property as possible before a viewing. ‘They do their own research, but the more you can give them, the happier they are.”Nick Marr of The House Shop, retrieving from The Telegraph

Why the Real Estate Industry Using Virtual Tour

Normally, all the tenants or buyer may spends 6-7 rounds of process of scheduling and viewing properties with the agents. If any agent has over 10 listing on hand, 70 viewings would need 15-20 working days per month.

Not to mention the necessary time consuming for making relationship with their sellers, buyers, owners and tenants.

So the following reasons best explains why the real estate industries using 360 virtual tour.

  • Connector.

    Speed Up Decision

    The 360 virtual tour could not only speed up the inspect process, also maximize the viewing from prospects. According to our past experiences, 33% time saving on sales cycle.

  • Connector.

    Money Saving

    Using 360 virtual tour , may streamline the process of rework, wrong prospect and unnecessary traveling cost, just invite your prospects click and drag on their screen before physical inspection.

  • Connector.

    Expanding Market

    Just like Teleporting, the 360 virtual tour particularly useful for distanced market or even international clients.

  • Connector.

    Strong Connection

    Really?? The answer is YES, since the 360 virtual tour offers a way to cut through the uncertainty, increase honesty and immersive, which needed elements for selling.

How to adopt 360 Virtual Tour in Real-Estate Industries

Strategy

Make sure planning ahead is key. Budget for the VR project could be under USD 1,000 or even exceeding hundred-thousands US dollar. What we have listed below are about the common suggestions for adopting VR.

Choosing VR Headset and Hardware

Choosing the right devices is critical and have to according your engagement purpose. The spectrum varies from phone based to PC/Console based.

Cardboard-USD 5-10

The Google Cardboard is a simple box with two lenses, enjoy the most low cost VR experience. Almost every mobile phone can be fit into the Cardboard

Google Daydream/Samsung Gear VR-USD 80-150

Advanced mobile based VR headset that provide more immersive content (specific inline store) and a tracked controller for intuitive interaction.

HTC Vive / Oculus Rifts/ Sony PSVR-USD 499-699

Features with space detecting, “room-scale”, and the separated OLED display and top tier system contribute most immersive experiences in dedicating contents.

Creating VR Content

The VR content need to be developed either by 360-degree photograph/video or by Unity/Unreal Engine. And a good auto-rendered software could save you lots of time for producing 360-degree stills virtual tour, even you could let users move their mouse/fingers from their PC/Mobile to navigate through rooms, knowing which view would be best interested before physical inspection.

Conclusion

More and more buyers and landlords hope real estate industry continuing to innovate in this area, enhance the emotional connection when fully immerse. The real estate industry definitely has the great context to massively develop and to take advantage of VR.

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