As real estate in Monaco increases in competitiveness. Agencies are looking for ways to differentiate themselves from their competition in order to bring new valuable services to existing and potential clients. Global real estate industry leaders are rapidly adapting to groundbreaking technological tools to reduce their properties sales cycles as well as improving their operational workflow to bring better efficiencies to home buyers and renters. Innovative 3D technology is being seen more often in real estate as the benefits become cheaper and more available. Now with over 1 year in the Monaco real estate industry, VRI has reassessed why local agencies as well as abroad continue to embrace virtual tours as a marketing tool to sell/rent their properties.
Virtual tours make property visits better, faster, and cheaper
Visiting apartments or homes have always been a lengthy, time consuming and expensive process both for agents and their clients. As we witnessed in Monaco, the 3D models we created for properties were successfully able to achieve:
- More complete visits
- Wider physical and online exposure of those properties
- Effective measurable ROI (insightful statistics)
- Time efficiencies
By using a 3D camera, the entirety of a property is covered without hiding any areas or using over photoshopped pictures which distort the reality of a space’s features and dimensions. In the past, traditional methods of highly edited pictures often resulted in unpleasant surprises by the client once a property was visited physically. Now, with the client being able to virtually walk through a property with accurate imagery and dimensions prior to a physical visit. The number of properties visited in person are narrowed down significantly to only the best matches to a home buyer’s desires. By eliminating the numerous unproductive property visits that were conducted, an incredible amount of time and money is saved in this new process structure.
The other breakthrough agencies have had in using 3D virtual tours as a service, is the incredible personal experience it brings to their clients. Being able to visit potential properties to buy or rent at your own pace, in your own time and as many times as you like is a digital luxury which was unknown before. Having a field of view of 360° degrees is more engaging and understanding than classic 2D photography, which limits your view to one sole perspective. Using 2D photography, an agency misses out on their client truly understanding a space they are being exposed to, which may harm their decision making process in the future.
Whenever a potential home buyer is exposed to a 3D virtual tour whether it is through their own device, through a storefront screen or directly at the agency with their broker. The increased amount of time and attention captured when using immersive 3D imagery is significantly superior to their experiences in viewing properties using 2D photographs.
Fast turnaround, all in one media coverage
You are probably familiar with the way a property is represented online or on a storefront screen. Using a set of 2D photos, informative information and floor plans is the most common way to display a property online. Using VRI’s virtual tours, a property now has a 3D experience, as well as a set of professional 2D photographs as well as a professional floor plan, All of this imagery and data is captured in one propert 3D scan. In the end, using 3D tours is more cost-effective than using a DSLR photographer, a drone operator and creating a professional floor plan.
Once a property is successfully rendered in 3D after the shooting process is completed. Within 24 hours VRI guarantees your 3D model is ready to be distributed to your clients on any given platform of your choice and can be embedded directly into your website for clients around the world to access and visit your listings. Generating more views, more interest at a faster rate than ever before. These immersive experiences have proven to generate more business not only in real estate, but also other industries we have serviced such as local retail shops, restaurants, museums, architects, construction businesses and others.
One of the most interesting processes VRI has the pleasure to provide, are the statistics of a space after it is live on a website or privately distributed to clients. At any given time we can inform you how many unique visitors have visited your property and which were the areas of most interest. This gives our clients measurable ROI to know exactly how much exposure they were able to capture through their online platforms.
In other industries such as retail, apart from the number of visitors we are also able to accumulate the increased sales growth a 3D virtual shop has generated over a given amount of time.
Due to these developments, we believe real estate industry leaders from around the world will continue to adopt 3D virtual tours as part of their offering increasing the total number of properties that are visited in 3D imagery. With ongoing developments from VRI to expand into augmented reality features, 3D renderings and more immersive 360° media production. Make sure to stay tuned to know what we will be introducing in 2019 !
– Written by Lucas Brito