Do Virtual Home Tours Help Properties Get More Renters and Buyers?

People are now able to move more freely as the future is guiding us towards the age of remote work and advanced technology. Technology is evolving to allow us to accomplish more advanced tasks from the screens in our homes. Among many tasks, house hunting is one task that people are longing to accomplish from the comfort of their homes.

For a while now, pictures of a home, business, or apartment complex have been effective towards the sale of the property. As telecommunications advance, the future is leading us towards simulating a more realistic experience such as 3D guided home tours. The desire to be fully submerged into a home tour from a computer screen is increasing just as quickly as technology is changing. It is critical for real estate agents to meet this demand by providing 3D virtual tours. 

Advantages of 3D Virtual Home Tours 

The advantages of 3D virtual home tours include:

  • Reach long distance buyers
  • Save time and money
  • Provide accessibility for all potential buyers
  • Stand out from the competition¬†
  • Keeping in touch with the rise of virtual reality

Reach Long Distance Buyers with 3D Virtual Tours

Due to various controversial reasons, people across the nation are moving to different states. To accommodate these long distance moves, 3D virtual tours provide an avenue for buyers to view the home in a way that simulates walking through the property that pictures alone can not imitate.

The overall 3D experience creates a more convenient and cost effective means for the buyer to view homes in different states. 3D virtual tours increase the consumer market from locals to high paying buyers across the nation, and even the world. Below is a table showing five states people are leaving and where they are moving to. 

United States Migration Table

States people are leaving 

States people are moving to

California Texas
New York Florida
Illinois  South Carolina
Pennsylvania  North Carolina 
Washington  Idaho

Time Advantages of Virtual Tours

Staging a home or property is a key factor in whether or not potential buyers/renters take interest in a property. 3D virtual tours make it possible to stage and show a property once rather than numerous days, weeks, and months.

3D virtual tours provide an upper hand by saving time. The real estate agent or seller can create a warm and comfortable space the day the home is photographed. Once the 360 photographs are captured, the showing can reach a wide variety of potential buyers and not just those who can make it to a showing on a single day.   The real estate agent or seller will only need to do physical showings for serious buyers. This  saves not only on cost such as gas, but opportunity cost.

Utilizing 3D home tours adds time value and saves on opportunity cost by allowing a simulation tour to occur anywhere at any time, without using the real estate agent or seller's time. The real estate agent, agency, and seller is able to use their time and the opportunity cost of that time while potential buyers tour homes at their convenience. 

3D Virtual Tours differ from online photographs

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  • The experience¬†
  • More immersive¬†
  • Quality layout view
  • Expectations
  • Exposure

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The 3D Virtual Tour Experience

3D virtual tours create an overall experience for  potential buyers or renters compared to online photographs of the property. The experience is immersive and simulates the feeling of walking through the property, whereas pictures flaunt only parts of the property. Yes, flaunting, or showing the best parts, can be a good thing, however, 360 virtual tours exhibit the whole property by providing accurate expectations. 

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3D Virtual Tours Provide Immersion

3D virtual tours are immersive. This means the potential buyers and renters can view the property relatively similar to physically being on the property. Potential buyers and renters can imagine themself and their belongings in the space. Spouses or roommates can daydream where to place their furniture, and envision living at the property with a much more captivating experience.

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Quality Layout View with 3D Tours

Speaking of daydreamers, potential buyers and renters will have a quality layout view of the property to conceptualize exactly how they could decorate their new home. Online photographs sometimes have a layout picture, however, the layout picture does not as readily demonstrate how the property is designed. 

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3D Tours Give Accurate Expectations

We have all gone to a movie we were excited to see, then leave the theater because our expectations were not met. The movie just was not as awesome as we had anticipated. The same can happen with online photographs for a home. 

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Photographs are deceiving, distorting how the property may actually look. This sounds like an advantage to get people interested in the property. However, this could lead to negative advertising through word of mouth.  If a potential buyer or renter has unrealistic expectations, that person will leave disappointed. 

3D Virtual Tours Increase Exposure

3D virtual tours stand out, which increases exposure. Being submerged into an exciting and captivating 360 home tour will lead to potential buyers/renters staying on the site longer. The longer the potential consumers stay on the site the better. 

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The mere exposure effect is a phenomenon where individuals are more likely to choose a product, such as a property, solely because that product is familiar. Those potential buyers and renters have the opportunity to tour the house with 3D virtual tours as many times as they please. The same potential buyers/renters are also more likely to click on the property with 3D virtual tours compared to simple photographs. 

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The Rise of Virtual Reality

For any business or operation keeping in touch with technology and consumer preferences is critical to thrive. Virtual reality is expected to expand to a 12.19 billion dollar industry by 2024.  

Several companies investing in the Metaverse or virtual reality products:

  • Meta Platforms Inc. (META)¬†
  • Microsoft Corp.
  • Apple Inc.

In an age of propelling technological advancement, no one wants to be left behind. Real estate agents or sellers will stay in touch with developing technology by having 3D virtual home tours. 3D virtual tours have benefits now with just computers, but real estate agencies using 360 virtual tours will be ahead of the curve as virtual reality makes headway. 

Conclusion

In conclusion, we are in a technological age where anything can be accomplished from home, even home tours. 360 virtual home tours have many perks from reaching long distance buyers to saving time and money. Taking the initiative to invest in 3D virtual home tours provide accessibility for all potential buyers and will make the property stand out from the competition. 

The advantages of 3D virtual tours include:

  • The experience¬†
  • More immersive¬†
  • Quality layout view
  • Expectations
  • Exposure

Do virtual home tours accumulate more buyers and renters? The answer is yes. 3D virtual tours create an immersive experience that can not be captured through photographs and prepare real estate agents for the rise of virtual reality.

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