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  • Writer's pictureAlejandro Betancourt

THE VIRTUAL TOUR IN THE REAL ESTATE MARKET.

THE VIRTUAL TOUR IN THE REAL ESTATE MARKET

The real estate sector is one of the commercial markets that has benefited the most from the use of the new tool called "Virtual Tour." The more professional your property looks online, the greater the chances of receiving a contact, a phone call, and closing the deal.



What is a Virtual Tour?


This is a digital tool in marketing and sales that allows the viewer through their favorite device, whether it's a cell phone, a tablet, a computer, or with VR augmented reality glasses, to navigate through a property having a 360° view of every corner, achieving a deeper perception of the relationship between spaces and details that make up each area.




What advantages does presenting a Virtual Tour of a property offer?


Having a virtual tour of the house, apartment, or property on the market is like having its doors open to interested visitors 24 hours a day, 7 days a week. And this is done without any travel cost, displacement, or time dedicated to giving the tour to each client.


In this sense, potential buyers will appreciate having all the time they need to check every corner or detail of a property, while also enjoying the advantage of being able to revisit that property (which has already given them a very good first impression) online, with other members of their family or friends who are either relevant in the final decision-making process or are the voices they turn to to finalize their opinion and the final purchase decision.


Virtual tours are a great benefit for people with restricted mobility or other problems that make it difficult to view properties in person.


Currently, Virtual Tours have gained strategic relevance in property presentations, as they provide a notable competitive advantage compared to properties that rely solely on traditional (2D) photos. The ability to conduct detailed property visits with potential buyers at any time helps to advance interest and achieve sales or leases more effectively


On the other hand, visiting numerous properties when looking for a new home takes a lot of time and is exhausting for everyone, especially for people with disabilities and special needs.


A person can now experience a potential house, apartment, or any type of property without having to travel there, allowing them to do so only when they are truly convinced that it is a property that interests them.


Virtual visits also help people determine the accessibility of the property and, therefore, decide if it meets their needs. Obviously, this will also benefit the property owners because the ability of buyers to view a property remotely expands the reach of buyers who may be interested in each property.


Other advantages of properties that offer Virtual Tours include the fact that the tour does not require any other maintenance such as physical cleaning or remodeling. Additionally, it also saves on public utility expenses per visit, such as electricity, heating, or cleaning services for each visit.


Likewise, owners will not have as much disturbance and interruption of their normal routine, as fewer buyers will visit their property in person. Now, buyers can get an accurate look at the property online first, without having to physically travel to it. This is a relevant factor for the goal being sought as adding virtual tours not only leads to more qualified property visits but also increases the probability of a sale or rental, due to the higher interest of buyers.


Thus, the time that would be dedicated to offering tours to various visitors will now be dedicated to reaching out to truly interested buyers, increasing the chances of closing the deal and signing the agreement.



Relevant Virtual Tour statistics.


THE VIRTUAL TOUR IN THE REAL ESTATE MARKET

Here are some statistics on the benefits of having a virtual tour of your property:


  • 80% of property buyers or tenants seek information online. (National Association of Realtors Survey)

  • According to traffic statistics on Google, 83% of people browsing the web prefer to view images when they decide to start searching for a property.

  • Real estate listings with virtual tours receive 87% more views among those searching online. (According to a Realtor.com study,)

  • Virtual tours can help reduce the number of missed calls and visits by 40%. (National Association of Realtors)

  • It reduces "real estate tourism" by up to 80% by showing the property in depth compared to what potential interested parties can see with only 2D photos of the property. (eyeSpy360)

  • Virtual tours attract more attention from potential buyers as they make people browse the same website returning 5 to 10 times more than another website that only has 2D photos (statistic from Panomatics cites)

  • 54% of buyers feel more comfortable visiting a property that has a 3D virtual tour (National Association of Realtors)

  • More than 75% of real estate consumers prefer this digital tool over photos and admit that it influenced their purchase decision. (Realtor.com)

  • Statistically, 60% of visits are made in the afternoons and on weekends. Now buyers and tenants will not waste most of their free time, nor will they have to view the property in darkness when they would have to return during daylight.



Costs and requirements for creating and presenting a Virtual Tour.


Having known the multiple advantages of presenting a virtual tour of a property, the logical question to ask is what are the requirements and costs to carry it out.


In this regard, there are three factors to consider: The first is the capture and editing of 360° Photography, which allows obtaining spherical shots of an area that will allow us to view any angle and detail to observe. The second factor is the Software with which we will create our Virtual Tour and the tools that it allows us to present to the audience. The third factor is Online Hosting for our Virtual Tour to drive potential buyers or tenants to visit the property. Let's see:


1. 360° Photography