How will Virtual Reality (VR) revolutionise real estate marketing?

Virtual Reality (VR) has been a buzzword in the Australian real estate industry for long, but unfortunately only a few realise its true potential even today. A lack of knowledge has caused a lot of scepticism and doubts over whether this technology is actually the future of real estate marketing or not. We often hear people ask – “well, it’s a great technology, but is it cost-effective?” They are sceptical even before they do the research to find out the ROI that VR can produce. Or they will say – “at the end of the day, it’s virtual, it’s not reality after all”.

These arguments are not based on an in-depth analysis of data. A developer who has never invested in VR won’t have the knowledge and expertise to make any claim about its cost-effectiveness or efficiency.

The reality, in fact, is that VR is going to be the future of real estate marketing for a verity of reasons. The main one being is that it elevates comfort and convenience for real estate buyers and sellers to a completely different level.

Customer engagement

Most real estate developers use images and videos for listing their projects online. Potential buyers browse the images or watch the video to decide whether they like the home or not. They then go to the next listing and do the same thing.

If you know anything about marketing, you will wonder: Are these potential customers engaging with the brand in any way? The honest answer is: no, they are not engaging. This is what makes VR different from photos and videos. Just by putting a headset on, the customers will walk into the property and experience the virtual environment created by this technology. They can rearrange furniture the way they want the property to look, as well as the ability to purchase the furniture right there and then on the spot! Offering a full ‘turn-key’ option while in the virtual environment

What this basically means is that you are not dictating terms on how your potential buyers should view a property; to the contrary, your customers are deciding which features are the most attractive in your property according to their exact requirements and are able to find out more about them with the help of VR. This is what ‘customer engagement’ is all about.

Connivance and transparency

Another myth surrounding VR is that it will trivialise the role of real estate agents. Nothing can be further from the truth. VR is going to be the most powerful tool in their arsenal. VR will equip real estate agents with a tool that they can utilise to make home buying and selling extremely easy for their clients.

If you are a real estate agent, you must have faced this comment from your clients a thousand times (when you show the property to them in person)  – “Well, it doesn’t look like the pictures!” VR eliminates this type of communication gap and confusion. You can stage the property the way you want to and your clients won’t be able to raise an eyebrow as far as the authenticity of the 3D renderings is concerned. It’s because these renderings are very comprehensive and enable you to infuse reality with creativity in the most transparent way possible.

Ease of use

Many people who don’t know this technology write it off primarily because they believe one needs costly materials such as motion sensors and computers to access it. The reality is VR is already within easy access today. The way technology is progressing by leaps and bounds with each passing day, VR will soon become as commonplace as a cell phone is today. In fact, there are APIs which can connect your company’s mobile app with this technology.

Storytelling is one of the most important and effective features in any marketing campaign. VR is just that – a tool to help you tap into the power of imagination and tell a story to your potential clients. VR will help you personalize your brand and your customers are guaranteed to feel connected to your marketing messages all the way.