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7 Cool Benefits of Virtual Reality in the Real Estate Industry

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Virtual reality has taken over the world in the past few years and changed the face of gaming and movies. But it’s not only these industries which have seen the effects of it.

VR has infiltrated so many more industries too. It’s a unique piece of technology which has something to offer everyone. There are a lot of benefits of virtual reality, it offers immersion and entertainment in a whole new way.

By the year 2022, the VR industry is set to reach $209.2 billion, so it’s safe to say it isn’t going away soon. One area VR shines in is the real estate industry. It can help you sell a house in a whole new way and offers a unique marketing opportunity.

Thinking about using VR in the real estate industry? Here are 7 benefits to it.

1. Show Off Your Properties

Showing people around properties is a huge part of your job, but there’s one problem with it. Your clients need to be there in person to see it.

This can put off people who are far away and moving to the area soon. But VR can change all that. You don’t need to have people there in person to show off your properties any more.

With virtual tours, people don’t have to spend time getting to the property. This works well for both sides of the sale. Neither the realtor or the client wants to spend time stuck in traffic or even a flight to the property.

Without long travel times, both you and the client will be less stressed out. It means you’ll have a clear head when it comes to the sale.

Give them a virtual reality tour of the place without them having to leave their living room. They can walk around the whole house and see every inch of it. It helps expand your reach and make more sales faster.

2. Development Potential

VR will allow you to discover a whole new potential for property development. With it, you can map out exactly what you envisage for a property before its done.

Have you always wondered what a place would look like if it was from a sci-fi novel? Or how it would look like open plan? You can try out all these things and more with VR.

It lets you have fun with development opportunities without spending on real changes. Clients will love it too since they can sample a host of ideas before making a commitment.

3. Stage Property Virtually

If a house is being sold unfurnished, it can sometimes be hard to make it look warm and inviting. After all, empty rooms don’t scream comfort, do they?

But with VR, you can mock up how the house would look like fully furnished. You can get your client’s preferred furniture style and incorporate it.

In the end, you get to show them around a dream version of their house if they buy it. It increases the chances of a sale if they see how it will actually look and you’ll have more happy customers!

4. Increase Profits

Using virtual reality for your real estate business gives you a unique selling point. There won’t be many realtor businesses with VR tech in the area so you put yourself above the rest.

A good USP helps you make sales. You offer customers something that others don’t and help inform their purchasing decision.

In the long run, it can lead to more sales and an increase in profits. That makes for a great business model and you help your business thrive.

5. Save Money

While VR tech may seem like an expensive investment, it helps your business in the long run. You don’t need to stage or show properties in person as much if you have VR tech ready to go.

Use tech such as 360 videos and guided tour videos. They let you give virtual tours without traveling out there. You also get to show how renovations would look without actually making them.

You save money through fewer trips and investments into the property and they help you make sales.

6. Communicate with Clients

Communication is key in all aspects of life, but especially in real estate. How many times have you had to answer simple questions from clients?

They ask you where the boiler is or where to find the thermostat? Of course, you’re happy to help, but it can be awkward trying to explain when you’re not there.

But with VR tech, you can pinpoint an exact part of the house to show the client. It gives a visualization which makes things easier for everyone involved.

When clients get to see their home with furnishings and modifications, they feel like they own it. When you spend the time to create a VR version of their home, it makes it a little more real for them. When they walk around their home in a VR headset, it becomes their home in their heart.

You get to make dreams come true and sell a great home at the same time. When a client feels like they already own the house, the sale will come naturally.

7. Boost Your Profile

360 and virtual tours aren’t only helpful to the client, but they can be a big online hit. Think about how many VR or 360 videos you’ve seen on YouTube: they’re everywhere.

If you make a great video in a gorgeous location, chances are they may get lots of hits. This will boost your profile and serve as a great marketing tool.

It raises awareness of your business as more people view the video. It encourages more people to consider your agency when buying property.

These Benefits of Virtual Reality Will Transform the Real Estate Industry

VR is instant so the client gets to see it immediately and you can get on with your work day too. In the busy world we live in, saving time and money is super important. These benefits of virtual reality make selling a house so much easier.

Find this article helpful? Check out our site to see how we can help you get involved with VR for your real estate agency.

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