3D Listings, are they worth it?
by Michael Lam | Oct 12, 2015
It was all the rage in 2014 and 2015. Virtual reality in general has been a hot topic in technology and especially in Silicon Valley. With all the glitz and glamor in VR (virtual reality) company acquisitions it’s hard to ignore. There’s Facebook who purchased Oculus VR for $2 Billion dollars in April 2014. More recently, GoPro, who makes one of the most versatile action cameras on the market and provides one of the best POV (point of view) camera shots/videos. On April 28, 2015, GoPro purchases Kolor, a virtual reality and spherical media company. The list just goes on, but what does this mean for the Real Estate Industry?
What is a virtual reality listing?
Virtual listings are putting the entire floor plan of a home virtually on the internet. Which means you can walk through an open house at the comfort of your home without ever needing to step foot a home. Shea Stone, who works for a pioneering company in this space, Planomatic, describes it nicely during an interview,
See this link as an example of a 3D virtual listing from matterport >> Click Here <<
describe 3D real estate is by comparing it to a video game….When you are viewing the tour, it’s as though you are actually there in the house.
What are the benefits
Certainly 3D is nothing new, but it’s trending quite high and it allows much greater visibility to more buyers than without a 3D listing. Below are some the benefits you can expect from a 3D listings:
- Increases your traffic, not limited to location and distance. Attracts remote buyers from outside local regions.
- Encourages those exploratory buyers to commit more after actually seeing the home interactively.
- If pictures are worth a thousand words, videos are worth 1,000 x more
- Impress potential buyers with more. Providing listing information is the bare minimum, but having a virtual tour separates you from competition
- Millennials love this. They are the next demographic that will dominate the real estate buyer market. With a 3D listing you’ll impress them showing how up to date you are with latest technology and trends.
Will they replace physical home tours?
A virtual tour is going to give you a simulation of what it “looks” like when viewing the home in physical state. However it can’t replace how you’ll “feel” when experiencing an actual physical home tour. In an interview done with Shea Stone from Planomatic, she says,
Virtual home tours won’t replace physical home tours, but what it’ll do is encourage buyers to make the commitment to take the next step in selecting a home to pursue.
You cannot walk over to the dishwasher and pull out the sliding racks, you cannot hear the sound of your shoes on the hard wood floors. You cannot feel the water pressure coming from the shower-head or the microfiber carpet threads on your feet in the master bedroom. You cannot necessarily get a sense of how the house feels to you, but seeing a 3D tour online can certainly help you decide if it’s worth getting a walk through.
Are they worth it?
The cost of a 3D virtual listing varies from companies that provide such services. Depending on the cost, it certainly provides a compelling opportunity to make a listing truly stand out. In a more growing competitive real estate market, it’s essential a realtor is on top of his/her game and to always present oneself as a leader in its market. A leader is someone who embraces the latest technology, a leader is someone who knows the market, and a leader is someone who understands its demographic and most importantly a leader stands out. Having a 3D listing ensures you stand out before rest of the crowd jumps on this band wagon trend.
A company that offers reasonable pricing and makes a 3D virtual tour worth it is a company called, Planomatic. They have a variety of services in photography that will meet your real estate needs and impress the buyers.
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