The Rise of Virtual Tours: Revolutionizing Property Viewing in Real Estate

Thanks to recent technological advancements, real estate has broken free from the old ways and has modernized significantly. Things like open houses, static advertorials, and paper brochures are being replaced. Virtual tours are the new normal, making the lives of renters, buyers, and sellers easier than ever. 

Did you know that 69% of home buyers now seek 3D virtual tours as necessary? They replace the need for scheduling and commuting to properties that often don’t align with your expectations or budget.

Virtual tours, supported by VR apps, use 360-degree videos or realistic simulations. They allow users to explore their future homes and walk through intricately detailed spaces with just a few clicks. This next-generation technology has made buying and selling properties easier and more accessible. 

If you are a real estate owner looking for innovative ways to expand your business reach, this write-up is for you. Read on to discover how VR apps are changing the game in real estate and what opportunities exist for you.

The Evolution of Property Viewing

In the past, the property buying and selling journey relied heavily on in-person visits, physical brochures, and newspaper listings. While these methods were somewhat effective, they were also limited in reach and impact. 

With the passing of time, as technologies advanced, people became very used to digital representation, such as online listings and high-quality images/video, which helped to some extent but still fell short of offering a truly immersive experience. However, the emergence of VR technology gave rise to the existence of virtual tours in this industry.

360° virtual tours have entirely changed the property buying journey, from start to finish, all under one roof. Rather than relying on static images or written descriptions, buyers can now explore spaces in a digital environment as if they were physically there.  

These tours create trust by providing a transparent view, eliminating guesswork, and boosting confidence. They also save time by allowing buyers to narrow down their options without visiting every property in person. 

To sum it up, 360-degree tours create seamless property buying and selling experiences with higher conversion rates.

Why Does Your Real Estate Business Need a VR App?

VR apps in real estate have become a need of the hour. Without a feature-rich virtual tour app, your competitors will always have an edge over you. Here are some other reasons why real estate owners are getting their VR apps developed in 2024: 

• Increased Engagement: Virtual reality apps allow potential buyers to inspect the spaces as if they were physically present. They can explore different rooms, walk in the hallways, and see the property from various angles.
• Save Cost & Time: Despite the fears of recession lingering on the market, around 5.6 million property sales and purchases are expected this year in this sector. VR tours can be a differentiating factor, saving time and cost and boosting sales. 
• Wider Audience Reach: Real estate marketers who use virtual tours can attract a wide audience for their listings. They can market their listings to a global audience from Sydney to Miami without worrying about logistical issues.
• Enhanced Visualization: High-quality VR tours provide a realistic and detailed representation of a property, helping buyers visualize the space instead of making hasty decisions after just viewing a few photos and videos.
• Lucrative Investment: VR apps allow your clients to be more confident before committing. They can explore multiple properties in detail and compare them to make a more informed decision.
• 24/7 Accessibility: VR apps allow potential buyers to view properties whenever they want. This is great for buyers or sellers with busy schedules or living in a different country or city.
• Marketing Advantages: The real estate market is more competitive today than ever. While orthodox marketers struggle to find an edge, these virtual tours serve as a unique selling point that helps your business stand out. 

How 360° Virtual Tours Enhance the Buyer’s Journey

360° virtual tours have transformed how we buy and sell properties over the last few years. They have added more intuition and confidence to buyers’ user journeys. Let’s explore how these tours fit into the buyer’s journey, from search to shift, and why they’re such a powerful real estate sales tool.

The real estate process works in three different stages: awareness, consideration, and finalizing. A 360° virtual tour adds unique value to each stage and helps your real estate business stand out. 

Awareness Stage

At the very beginning of the search, buyers often get overwhelmed by the number of options available. They are also likely to give up on their visits after a number of properties that don’t meet their expectations. The use of a 360-degree virtual tour makes it a stand-out, stress-free experience that rises above static images and exaggerated descriptions. It also creates a lasting first impression that will encourage the buyers to ask for more. 

Consideration Stage

Once buyers start narrowing down their choices, these tours become even more valuable. They can easily revisit the tour multiple times, each time focusing on different details like the specific features or even guessing how they’d use the space. This freedom to do as you like makes them feel satisfied and allows them to compare everything.

Deal Closing Stage

By the time buyers are ready to make a decision, they’ve usually shortlisted a few top properties. A 360° virtual tour can make all the difference here. It gives the most detailed and transparent view of the property, helping buyers feel more confident in their choices. It reduces any existing doubts and makes clients feel confident about their investments.

VR Apps Capabilities that Enhance the Experience

Virtual reality (VR) technology has entirely changed how we experience property visits. Here are a few key features of VR apps that play a major role in this:

Immersive 3D Visualization

Think of it as if you can realistically look at the inside of the property without moving from your living room couch. These digital tours supported by VR apps can create a 3D environment that makes it feel like actually walking through the space.

This feature is a breakthrough in the real estate industry. It allows a purchaser to get an authentic feel for the property’s dimensions, layout, interior design, and ambiance, which is impossible with photos or videos.

Explore at Your Own Pace

Unlike traditional property viewings, where you might feel rushed or directed, VR apps offer an appealing navigation that puts all control in the user’s hands. They can move through the property at their own pace, and focus on areas of interest. Whether they spend time in the kitchen or get a better look at the backyard, it’s up to them. 

Realistic Textures and Lighting

Virtual tours with realistic environments appeal to buyers and sellers because of advanced rendering that creates lifelike textures and lighting effects. They help users precisely capture small details, whether it’s the warmth of hardwood floors or the shimmer of marble countertops. It makes the sale and purchase journey compelling and convenient for all.

360-Degree Views

VR apps provide a 360-degree view of each room so that users can see every nook and cranny from all angles. This feature is particularly useful in understanding the flow and layout of the property. If you feel conscious of how the living room connects to the dining area or want to see the view from a bedroom window, that’s all possible with a 360-degree perspective.

Personalized Experiences

Another significant advantage of a VR app is that it allows users to change the environment as per their aesthetic choices. These apps use advanced technology to let users change wall colors and switch furniture of their own choice. This personalization helps users see how the place would look after being commuted and be confident in their decision to purchase. 

Guided Insights with Audio Tours

For those who prefer guidance, VR apps also offer audio-assisted tours. These tours provide valuable insights into the property, such as historical information, unique features, or neighborhood highlights. It’s more like having an agent or broker by your side.

Advance AI Analytics

VR apps benefit every stakeholder in the real estate dealing process. These apps use immersive visuals and AI, analyzing customer data to help agents develop valuable insights for making better deals. Through AI analytics, they track what users are up to, their inputs, which features they seem interested in, and more. This data helps them assess buyers’ interests and understand what potential buyers seek.

Challenges and Considerations

While virtual tours open a world of opportunities for the real estate industry, they also come with their own challenges that involve technical expertise, approach, and resources. Here are some hurdles real estate professionals and investors might face while adopting virtual tour apps.

• Technology Access: Not all buyers have access to the necessary technology or the internet bandwidth required for high-quality virtual tours. Ensuring that virtual tours are available in formats accessible to all potential buyers is crucial.
• Authenticity Concerns: Some buyers may be skeptical of virtual tours, questioning the authenticity of the representation. Real estate agents must provide accurate and honest depictions of properties to build trust with clients.
• Initial Investment: Setting up virtual tours can require a solid initial investment in technology and training. However, this cost can be offset by virtual tours’ increased efficiency and sales potential.

Thinking Big for Your Real Estate Success?

As technology grows, the future of virtual tours for the real estate business appears bright. Several upcoming trends, including AI personalized experiences and virtual staging, will make it worth investing in. Those who utilize VR and AR apps will be ready to meet the evolving needs of tech-savvy buyers. 

At Cubix, we have helped successfully deliver 1300+ products for global enterprises, SMEs, and startups. Our team of 350+ VR app developers and experts is equipped with the latest technology expertise, tools, and frameworks to deliver exceptional VR app development services. 

If you are a real estate owner or a marketer thinking of making it big, you are in the right place. Whether you are looking to develop a VR app or upgrade an existing one, contact our experts now and let us help you lead your real estate business to new heights.