Virtual reality is becoming an important marketing tool in more and more industries. In real estate, it is the up and coming product for advertising homes and showing properties. Homeowners looking for new avenues to advertise their properties can turn to virtual reality to reach buyers in far away places. Virtual reality also calls attention to high end properties. This new technology is an excellent way for a homeowner to make their property stand out from the competition.
But is virtual reality a realistic advertising tool today? Real estate professionals who want to utilize VR must give consideration to the many limitations that come from using any new technology. Namely, many people do not have virtual reality technology in their home. Producing virtual reality tours is not free, and real estate professionals will need to determine how they will get a return on investment when adding virtual reality to their offerings.
Infrastructure is needed to make virtual reality a more useful tool in real estate. Here's what the industry needs to consider when thinking of implementing virtual reality in their practices.
Have a plan. Know what will be involved and how to solve problems relating to the newness of the technology.
Know the limitations. Understand that not all clients will be able to use virtual reality, and that not all buyers will be able to see VR tours.
Be up front with the client. Virtual reality is not the silver bullet, and clients must have other marketing plans in place to ensure their house is sold.
If you're a real estate professional, study up on virtual reality to stay competitive. Virtual reality has its limitations right now, but as the technology advances, it will likely become more accessible and popular.