Sunday, November 3, 2024 / by Teresa Pileggi
VIRTUAL HOME TOURS
Virtual Home Tours: How The Technology Is Transforming Modern Real Estate
The housing market is experiencing a significant technological shift, fuelled by the introduction of virtual reality. Besides streamlining transactions, technology transforms how property owners interact with buyers or real estate agents. One significant shift that has made it easier for buyers to discover homes is virtual home tours.
Imagine inspecting a home and visualizing how it will look once you move from the comfort of your couch. While this cuts the cost of touring the house in person, it also offers an immersive experience that significantly impacts your buying decision.
Here is a detailed look at how virtual home tours and technology transform modern real estate.
What Is A Virtual Home Tour
A virtual home tour is a 360-degree walkthrough of a property that allows a buyer or real estate agent to explore the home without visiting it physically. Technically, a virtual home tour involves a series of panoramic images or videos stitched together using virtual reality (VR) software to create a virtual experience of any location. The software allows the buyer or real estate agent to click through the space, zoom in on details, and get a sense of the property's layout and flow.
Virtual home tours use advanced cameras that capture 350-degree photos or scans of the property. The images are then processed to create a fully interactive, three-dimensional (3D) model of the home.
Finally, the 3D models are integrated into real estate websites and listing software to allow prospective buyers to walk through the property quickly without scheduling in-person tours.
Key Features of Virtual Home Tours
Virtual home tours resemble traditional promotional videos of the property, although they offer the prospective buyer more flexibility when exploring the property.
Besides allowing easy access to the property, virtual home tours have the following key features:
? Interactive property navigation allows buyers to click through different rooms, zoom in for finer details, and control the directions as they would in a physical tour.
? Unlike static photos or videos, virtual or 3D tours offer a more realistic (immersive) sense of the property's layout, flow, and scale.
? High-resolution visuals and specialized software allow users to measure spaces and visualize how their furniture might fit in a home.
How Virtual Homes Are Transforming the Modern Real Estate
With technological advancements, buyers no longer have to wait in queues to explore their dream home. They can now explore multiple properties at different locations from the comfort of their homes in seconds.
That said, virtual tours are transforming modern real estate in various ways. These include:
1. Enhanced Buyers and Sellers; Convenience
Virtual house tours have gained more traction because of the convenience they offer buyers and sellers. With 3D visualization, buyers can explore multiple properties within seconds than they would in in-person tours. This can be useful for out-of-town buyers, those with disabilities, and those relocating to a new location with limited time to visit the property. Sellers using virtual tours can also reach more prospective buyers without hosting numerous open houses. A well-organized virtual tour with high-resolution visuals can showcase a property, allowing prospective buyers to check every detail and engage with sellers.
2. Increased Efficiency in The Buying Process
A real estate transaction is often lengthy and tiresome. From identifying the property to negotiating the deal, buyers can spend much time and money along the journey. Fortunately, virtual home tours can streamline the transaction and enhance buyer-seller engagement. Buyers can also narrow down their priorities and only visit homes they are interested in. According to the annual National Association of Realtors (NAR) report, 54% of buyers will only visit a property if it has a virtual tour. That means properties without virtual tours will likely record fewer views than those with tours. Therefore, virtual tours allow buyers to decide which homes to visit in person, simplifying the sale.
3. Better Marketing Tools
Real estate agents in a competitive housing market always look for ways to stay unique and make their listings different. With virtual home tours, they can make their listings stand out from their competitors, attract more views, and sell faster. Virtual tours also allow real estate agents to showcase their digital marketing skills, appealing to tech-savvy buyers who expect premium homes with personalized buying experiences.
Eye-catching virtual tours are also more likely to go viral than low-quality visuals. That is because virtual tours are easy to share on social media, drive more traffic, and rank higher in search engines. As a result, the listings can get more exposure, hence closing faster.
4. Enhanced Cost-Effectiveness
Virtual tours seem like expensive and time-consuming marketing tools for real estate professionals. However, they are highly affordable, allowing buyers and real estate agents to reduce travel costs to the site. For instance, creating the best-selling virtual tour can take less than five minutes, and most virtual tour providers are free for the first trial.
Moreover, buyers and real estate professionals can create virtual tours without advanced tech skills or training. They only need to take photos and videos, upload them to the virtual tour provider account, and turn them into engaging and meaningful 3D tours.
The Bottom Line: The Future of Virtual Home Tours
As technology and virtual home tours continue to advance, we can expect more technological integrations into the housing market. Examples of technologies already making headlines are Augmented Reality (AR) and Virtual Reality (VR), which allow homebuyers to visit homes virtually
while wearing VR headsets. Smart home technology allows buyers to interact with and adjust home features such as lighting and temperature during the virtual tours.
Therefore, although once a luxury, virtual home tours have become essential to modern real estate transactions. The growing demand for convenience, accessibility, and personalized experience also means virtual home tours are here to stay, impacting buyer-seller interaction and future purchase
decisions.
The housing market is experiencing a significant technological shift, fuelled by the introduction of virtual reality. Besides streamlining transactions, technology transforms how property owners interact with buyers or real estate agents. One significant shift that has made it easier for buyers to discover homes is virtual home tours.
Imagine inspecting a home and visualizing how it will look once you move from the comfort of your couch. While this cuts the cost of touring the house in person, it also offers an immersive experience that significantly impacts your buying decision.
Here is a detailed look at how virtual home tours and technology transform modern real estate.
What Is A Virtual Home Tour
A virtual home tour is a 360-degree walkthrough of a property that allows a buyer or real estate agent to explore the home without visiting it physically. Technically, a virtual home tour involves a series of panoramic images or videos stitched together using virtual reality (VR) software to create a virtual experience of any location. The software allows the buyer or real estate agent to click through the space, zoom in on details, and get a sense of the property's layout and flow.
Virtual home tours use advanced cameras that capture 350-degree photos or scans of the property. The images are then processed to create a fully interactive, three-dimensional (3D) model of the home.
Finally, the 3D models are integrated into real estate websites and listing software to allow prospective buyers to walk through the property quickly without scheduling in-person tours.
Key Features of Virtual Home Tours
Virtual home tours resemble traditional promotional videos of the property, although they offer the prospective buyer more flexibility when exploring the property.
Besides allowing easy access to the property, virtual home tours have the following key features:
? Interactive property navigation allows buyers to click through different rooms, zoom in for finer details, and control the directions as they would in a physical tour.
? Unlike static photos or videos, virtual or 3D tours offer a more realistic (immersive) sense of the property's layout, flow, and scale.
? High-resolution visuals and specialized software allow users to measure spaces and visualize how their furniture might fit in a home.
How Virtual Homes Are Transforming the Modern Real Estate
With technological advancements, buyers no longer have to wait in queues to explore their dream home. They can now explore multiple properties at different locations from the comfort of their homes in seconds.
That said, virtual tours are transforming modern real estate in various ways. These include:
1. Enhanced Buyers and Sellers; Convenience
Virtual house tours have gained more traction because of the convenience they offer buyers and sellers. With 3D visualization, buyers can explore multiple properties within seconds than they would in in-person tours. This can be useful for out-of-town buyers, those with disabilities, and those relocating to a new location with limited time to visit the property. Sellers using virtual tours can also reach more prospective buyers without hosting numerous open houses. A well-organized virtual tour with high-resolution visuals can showcase a property, allowing prospective buyers to check every detail and engage with sellers.
2. Increased Efficiency in The Buying Process
A real estate transaction is often lengthy and tiresome. From identifying the property to negotiating the deal, buyers can spend much time and money along the journey. Fortunately, virtual home tours can streamline the transaction and enhance buyer-seller engagement. Buyers can also narrow down their priorities and only visit homes they are interested in. According to the annual National Association of Realtors (NAR) report, 54% of buyers will only visit a property if it has a virtual tour. That means properties without virtual tours will likely record fewer views than those with tours. Therefore, virtual tours allow buyers to decide which homes to visit in person, simplifying the sale.
3. Better Marketing Tools
Real estate agents in a competitive housing market always look for ways to stay unique and make their listings different. With virtual home tours, they can make their listings stand out from their competitors, attract more views, and sell faster. Virtual tours also allow real estate agents to showcase their digital marketing skills, appealing to tech-savvy buyers who expect premium homes with personalized buying experiences.
Eye-catching virtual tours are also more likely to go viral than low-quality visuals. That is because virtual tours are easy to share on social media, drive more traffic, and rank higher in search engines. As a result, the listings can get more exposure, hence closing faster.
4. Enhanced Cost-Effectiveness
Virtual tours seem like expensive and time-consuming marketing tools for real estate professionals. However, they are highly affordable, allowing buyers and real estate agents to reduce travel costs to the site. For instance, creating the best-selling virtual tour can take less than five minutes, and most virtual tour providers are free for the first trial.
Moreover, buyers and real estate professionals can create virtual tours without advanced tech skills or training. They only need to take photos and videos, upload them to the virtual tour provider account, and turn them into engaging and meaningful 3D tours.
The Bottom Line: The Future of Virtual Home Tours
As technology and virtual home tours continue to advance, we can expect more technological integrations into the housing market. Examples of technologies already making headlines are Augmented Reality (AR) and Virtual Reality (VR), which allow homebuyers to visit homes virtually
while wearing VR headsets. Smart home technology allows buyers to interact with and adjust home features such as lighting and temperature during the virtual tours.
Therefore, although once a luxury, virtual home tours have become essential to modern real estate transactions. The growing demand for convenience, accessibility, and personalized experience also means virtual home tours are here to stay, impacting buyer-seller interaction and future purchase
decisions.
