How Virtual reality will change the real estate business

Mark Zuckerberg called virtual reality a 'dream of science' but went on to stress that the internet, computers and smartphones had all once been dreams of science, too. As CEO of Facebook – one of the world’s pioneering tech companies – his words are worth heeding. Before we know it, virtual reality could very much be a reality.

How Virtual reality will change real estateVirtual reality isn't just for gamers or cutting-edge Silicon Valley tech firms though, it looks set to take the property world by storm too. Pioneering real estate agents are already employing virtual reality to offer a 360-degree virtual tour of their properties. Here are a few other ways virtual reality could revolutionise the future of real estate.

1. By enhancing efficiency

Face-to-face viewings account for a large portion of a real estate agent's day. With the possibility of buyers conducting their own thorough viewings online, agents can free up hours for marketing and presentation purposes. This means they can spend less time on the road and more time making sure the exchange process goes smoothly.

2. By helping bring new builds to life

Currently, selling a new build can be difficult. No matter how perfect the finished product will be, prospective buyers are rarely impressed by piles of rubble, simple foundations and shouting builders. Instead of relying on buyers to envision the finished product, virtual reality creates a projection of an artist's impression, allowing them to walk around the property for themselves. This is sure to streamline the process of selling new builds.

3. By making selling easier

Sellers can often become frustrated by the constant influx of potential buyers coming to view their home. Virtual reality tours will see the number of face-to-face viewings dramatically reduced, taking stress off the owners during the sale period and allowing them more time to plan their next move.

4. By improving the viewing experience

The possibility of online virtual tours opens up the door for an audio accompaniment, walking buyers through the property. Where before, agents were forced to think on their feet and conscious of time constraints between viewings, they can now employ professional copywriters. This means no key selling point will be overlooked – from the blissful Mediterranean panorama, to the basement-level home cinema.

5. By enabling international property viewings

One of the most significant advantages to virtual reality technology lies in the global market. For the first time, buyers will be able to walk around properties on the other side of the world, without leaving the comfort of their own home. This is sure to buy up the international property market, having a particularly notable effect on the sale of second homes and holiday lets.

At Engel & Völkers we’re experts in luxury real estate. To view our collection of exceptional properties across 32 countries and four continents, head to our website today.

Engel & Völkers

Durbanville & Surrounds
Shop 46 Cobble Walk Centre, Cnr de Villiers Rd & Verdi Blvd, Sonstraal Heights, Durbanville
7550 Cape Town
South Africa
Phone
+27 21 020 0136

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