Virtual reality (VR) technology is making the impossible possible for real estate professionals, even offering the ability to walk potential buyers through a project that has yet to be built.
Although two-dimensional computer renderings and animated videos may bring some similar capabilities, the complete immersion accessible through VR allows potential clients to view and inspect a property as if it were complete and ready for a walk-through.
Real World Real Estate
In Colorado, Sotheby’s International Realty broker Andrew Ememann and developer Aspen Starwood Properties faced a typical challenge: they wanted to showcase luxury properties that were still in development, but they also knew that their sophisticated audience would be unmoved by traditional renderings, videos and brochures. Their savvy potential buyers would want to search for undesirable features that might be hidden with selective camera angles. They’d want to “walk through” a property before making an investment.
Ememann conducted extensive research for a solution. Only VR seemed to offer an answer. Buyers wearing VR goggles can explore an entire home as if it were already built. Not only does it offer the emotional impact of reality, but it can also be stored and reused as long as needed. When a buyer cannot visit the VR showroom, 360-degree, web-based tours are still available.
His research also led him to Outer Realm LLC, a VR developer with extensive experience in luxury markets and high-quality virtual reality technology. Wearing their goggles, a viewer can “move” to any vantage point in a building, even interact with the scene using a design palette. He or she can select alternate finishes for flooring, kitchen countertops or cabinets, furniture fabrics and lighting.
Significantly, buyers can see and understand how their future home is arranged, finished and furnished. They gain a realistic sense of standing inside the home, building an emotional connection that cannot be duplicated.
There’s nothing virtual about the outcomes Ememann and Aspen Starwood Properties have experienced: properties can be listed earlier and sold faster. Development risk is reduced since properties can be marketed and sold before they are built.
Perhaps most of all, the high-impact, emotionally charged VR experience cuts through typical buyer doubt while simultaneously bringing significant attention to a cutting-edge technique.