How 360 Virtual Tour is changing the Real Estate industry

360 virtual tour uses in real estate

What is a 360 Virtual Tour?

The 360 Degree Virtual Tour is an immersive experience that allows customers to view a place from the comfort of their home, regardless of where they are in the world. The latest 360 immersive technologies and virtual tour photography using 360 photos help to create a seamless digital tour of a real location. It can be a home, hotel, art gallery, or historical building.

360 Virtual Tour helps to effectively increase users’ engagement and interaction. A venue that is showcased on virtual or mobile devices in 360 degrees will provide customers with a more memorable experience. 

Customers will be able to view the whole scene in whichever angle they want and at any point of time. Regardless of where their location is, they will be able to view the virtual environment easily. 

Here’s a video of an example of a Real Estate 360 Virtual Tour: 

Types of 360 VR tours

 

Guided Tours

Guided tours are either fully digital or in the form of 360-degree videos, which are considered to be a type of VR (click here to read our previous article if you are interested to find out more about 360 VR).

They are ideal for existing properties as they are easy to make. You only need a 360 degree panoramic camera to capture footage. Of course, to get the most immersive experience, your customers should wear a virtual reality headset.

Immersive Visits

Immersive visits allow users to select the location to move within a property by clicking on special viewing hotspots. It’s more difficult to create immersive virtual home tours, but they’re more engaging than guided digital 3D tours so you can view properties more effectively.

Here’s another video of an example of a Real Estate 360 Virtual Tour: 

Benefits of 360 Virtual Reality in Real Estate 

It takes a lot of time and patience to buy property for personal or business needs. This gets much tougher when the estate is geographically distant from the customer. Virtual reality allows customers to view real estate online. It has the ability to save time and money for the real estate tour. 

Any modern VR headset is able to demonstrate virtual tours for real estate. This could be guided tours throughout the sites in 360 video format or immersive tours with free navigation.

 

Here are the 4 benefits of 360 Virtual Tour in Real Estate: 

Save time

Nothing is as precious as time. Searching and testing a new property can be a faster process thanks to VR. 

For virtual tours, there is no need to visit properties for days and hours. In the workplace or at home, both buyers and realtors can use VR headset at any time.

 

Save money

VR appears costly and hi-tech at first glance, particularly digital tours with graphics of quality and commercial features. But expenses prove worth profiting from saving on (printed and online) advertising materials and property staging.

Real interior design, delivery, and furniture placement can be replaced with 3D models, which can be reused for various locations.

 

Create an emotional commitment

Virtual tours provide immersion and authentic presence feeling, unlike 2D print simulation. There’s no rush, there’s only freedom for a viewer to explore and interact. 

Seeing photos or videos is nothing like going from room to room by yourself. This certainly helps to close the deal by invoking ownership sense.

 

Offering around the world

Virtual reality removes distances. That’s why the realtors have started expanding their customer base since the first VR tours were produced, not limited to local buyers. 

Today, the world is more cosmopolitan, people move from one place to another, and even hemispheres. So virtual reality can have an impact on the global real estate supply and demand.

How Virtual Reality Can Apply?

360 Virtual Tour - House Viewing

Virtual Property Showcases

Before settling on the one that they want, clients will usually visit multiple properties. It requires a lot of time and if an estate is far from where a client lives, it will only bring inconvenience to the client. In this case, not only is it time-consuming to visit a house, but it can be costly as well.

VR technology helps solve these issues, allowing millions of people to visit properties remotely without having to even step out of their homes. Only put on a VR headset and you can experience immersive, three-dimensional property walkthroughs. Potential buyers or tenants will visit hundreds of locations online in a matter of minutes and decide which ones are worth visiting in person.

 

Architectural Visualization

Marketing a property not yet built has always been a challenge for developers and agents of real estate. You’ve probably seen large 3D models showing a new property or neighbourhood. These models help to imagine the architecture for potential buyers.

Real estate agents create large showrooms with full-scale apartment designs when it comes to the interiors of these new buildings. Such advertising strategies, it goes without saying, require considerable investment. Virtual reality can solve this problem effectively and enable potential homebuyers to scrutinize both the exterior and interior of the properties that are yet to be built.

Thanks to VR, simulation of architecture has become much cheaper and much more immersive. Real estate agents can use VR technology to display both the exterior and interior of properties that have not been built yet. This allows buyers to clearly see what is being offered.

 

Virtual Staging

Imagine a vacant property with no or very few pieces of furniture. Imagine the same house or apartment right now, but full of furniture and a cosy and appealing look. Which would be easier to sell? The answer is clear.

Statistics have proven that virtual staging is helpful to buyers. 83 percent of real estate agents agree that staging helps buyers to visualize their future homes easily. These findings were found from the Profile of Home Staging survey that was conducted by the National Association of Realtors.

Although staging is a great way to market property, investment is needed, particularly if you sell newly built properties. Virtual reality technology is a great way for realtors with very little investment to market staged properties. 

VR enables you to create amazing 3D real estate tours and set up properties for your customers to check them out.

There is no doubt that the 360 virtual tour is an incredibly helpful platform for the real estate industry. It is the ultimate solution for potential clients to visualize the house easily, speeding up the buying process. 

Interested in producing a high quality 360 VR tour after reading this article? Please feel free to contact us today.