If there was ever a good time to invest in visualization tools, it’s right now. Nowadays, they are widespread, readily accessible and more user-friendly. Also, they allow real estate agents and developers to make the most of the array of technologies like Virtual Reality available for their business.
During the last two years, there were 225 VR/AR venture capital investments made that amounted to $3,5 billion. The market is expected to grow from $1.37 billion in 2015 to a smashing $33.9 billion by 2022.
Here are 3 good reasons why you should invest in VR technologies right now.
1. VR supports globalization
As the real estate market becomes globalized, agents and developers take on new challenges. For example, they need to find new ways of reaching customers located far away from the investments. Or, bring an unforgettable experience to as many clients from all over the world as possible at the same time. By all means, Virtual Reality can help with that.
There are many VR tools which can help real estate businesses reach customers from around the world. Thanks to the 360° photography added to the listings or virtual tours guided remotely by agents; clients can visit any property without leaving their home. Also, such VR tools provide an amazing user experience to many customers at the same time.
2. VR attracts millennial buyers
According to a recent study, Millennials account for 68% of all first-time homebuyers right now. To attract this generation, you’ll need something more personalized and immersive than traditional sales and marketing methods. Modern consumers are used to being provided with engaging on-demand experiences with products. They like to engage with brands in the comfort of their homes.
By developing VR content and distributing it on web-based platforms, in mobile apps, and on social media, you will be reaching these audiences right where they hang out, providing them with a fantastic user experience.
How to make the most of VR content on your listings?
3. VR helps to build a strong online brand
Developing a reliable and robust online brand is a prerequisite for every real estate marketing strategy. Building a trusting relationship with clients is difficult, but investing in online marketing channels with the help of VR technologies helps to project an image of trust and honesty.
Experts claim that VR technologies will revolutionize the real estate sector in the same way that internet listings did some two decades ago.
In 2020, 130k real estate agents will be using VR to show properties, with an annual spending of $5,000 expected to grow by 10% each year.
Don’t stay behind your competitors and join this powerful trend by making smart investments in VR content.