The closing machine : 4 ways VR will disrupt the real estate industry
Virtual reality is the best thing to happen to the real estate industry since the internet was invented.
VR is coming ladies and gentleman. And you should rejoice. Your life is about to get that much more easier.
Recently I started thinking about all the possibilities this technology could have across many industries. I use to work as a real estate broker, so I immediately started to question myself on how game-changing this could potentially be.
Besides being super fun gadgets, VR headsets are tools to improve the quality of your service, to satisfy your clients needs and consequently to grow your revenue.
In this piece I will cover the 4 keys factors that I believe VR bring to the table.
Buying a house is often times an emotional decision. You’re commiting to a piece of land. Settling. It is a big moment in someone’s life and it takes a lot of thinking through.
VR was described by Chris Milk in a ted talk as being the perfect empathy machine. That is because it gives you a real enough immersion in the virtual environment and enables you not just to see, but to feel.
For realtors, virtual reality is a great tool.
It gives them the opportunity to present a number of property to potential buyers in a matter of minute without having to move and without loosing the emotional connections of a real live visit. It allows the realtor to control the setting.
No more rainy days that ruin your visits because the clouds killed all the beautiful light that filled the living room.
No more visits cut short because a plane went over the garden as you were presenting the swimming pool.
You’re in control now.
Improves user experience :
Overall this improves the user experience offered by your agency.
Having VR tours made systematically for every listing you are trusted with will differentiate you from the competition. Sellers throughout your area will see the quality of your work, you’ll have more visibility, more referrals, and at the end of line, more hard cash.
For distant buyers on the other hand, VR tours are a great way to get a feel of the place before making a decision to go and visit it or not. This will facilitate distant transactions which will improve the efficiency of the real estate agency.
Saves time and money :
This is important. VR will significantly reduce costs in the sales process.
Money will be saved on transportation since a lot of visits could happen in VR first, eliminating bad matches right of the bat.
This will save time as well and will speed up the sales operations. Which is good because we know time is money and good time management is critical in the real estate industry.
Lead generation :
As the space grows and the tech improves. VR tours and VR open houses will keep growing in popularity. Mastering them will become necessary and will generate a lot of leads to those who do it best. It will become ubiquitous for consumers to visit properties via these types of virtual simulation and agents who lag behind on the adoption of VR will get left in the dust.
Final thoughts :
Here are in my opinion the 4 main benefits to using VR in your real estate business. If I you are reading this and have other ideas on implementing VR in this industry or in an another, please feel free to leave a comment.
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