3 reasons why you need virtual reality in your property development

In this article, we would be discussing 3 reasons why you need virtual reality in your property development business. Virtual reality is no longer just the new technology in town. It is a proven way to advance the real estate industry. It can make life easy for your property buyers and investors while bringing you more profit.

Recently, virtual tours and augmented reality gained more usage in the real estate sector. More real estate agents have begun to use it to conduct open houses and for property development. This was not so in the past. Previously, property developers used the manual method of preparing building plans. Architectural designs were mostly paper-based, then came the golden era of CAD.

The CAD (computer-aided design) provided a more advanced design system, a digital design software that many Architects today swear by. Today, we have a virtual reality that is currently making baby strides in terms of property development. This is because virtual reality is a more advanced technology that comes with rapid changes which many fear they can’t keep up with.

What does virtual reality mean to property developers?

Currently, in terms of property development for yet-to-be-built properties, Architects can create a virtual world using a CAD program. With virtual reality, however, you can bring these designs to life by using a special headset, alongside various controllers and sensors. With these features, investors and clients can explore the design to see a ‘more real’ version of what the buildings would look like when built. 

3 reasons why you need virtual reality in your property development

How exactly will virtual reality change the game for you as a property developer? Here are 3 reasons why you need virtual reality in your property development.

Improved process

Most people want to see the property they are buying. The images most often influence buyers’ decisions concerning the properties. This gets a bit tasking when you have to show a property plan to an investor who can not see beyond the lines and angles drawn. You have to rely on CAD representation and a lot of explanations.

Virtual reality technology solves this.  It can be used to design properties from the “draft” stage to the “real life” stage. This refers to the final version of your design where clients can see how the property would look even before it is built. However, that’s not all virtual reality offers.

With virtual reality technology, clients can step into the premises of the virtual property, move around and access all areas of the property easily. This can be done via a 360-degree virtual tour of your properties created using virtual reality technology.

After creating the virtual tour, you can upload them online for existing and new clients to see. Augmented reality could also be used to design the interior design of the building if it has been built.

This eliminates time spent dealing with a single client. Multiple clients/investors can view the property online via the uploaded virtual tour at the same time. Also, everyone’s time is saved and the client/investor only need to indicate interest to get started with the paperwork 

A wider range of leads with less tedious appointments

Virtual reality comes with a lot of possibilities in property development. With virtual reality, you can attract a wider range of investors and buyers. 

Since virtual reality technology allows you to include property information, you can include information on all your listed properties. 

Buyers and investors only after watching the tour. Although many may still insist on physical appointments to have a one-on-one conversation about the property, in time virtual appointments would become the norm. 

You also don’t have to look hard for social connections if you are trying to sell a luxury property. Most of your clients don’t have the time to waste so, save their time with virtual reality and impress them. You would be signing that property contract sooner than you think if you do.

Close deals faster with virtual reality

Experts in the real estate industry tend to have a kind of patience that is not usually found in other industries.

They have to wait for clients to make up their minds after visiting several properties with no conclusion in sight. Property buyers also most often than not have to wait to go on a property tour. This creates some sort of frustration on both ends. 

Virtual reality allows property buyers and investors to make up their minds about the properties that interest them. With a virtual tour, they can make a quicker decision of what they want to buy or invest in.

This means that you wouldn’t be spending hours on the phone trying to convince two clients about a property for months. You could spend only a few hours setting up meetings for a final discussion and exchange of signatures.

Conclusion

Currently, many real estate agents and property developers are harnessing the power of virtual reality in marketing. With virtual tours, they show properties to multiple clients, connect with ready investors, and close deals in record time.

By incorporating virtual reality in your property development, you stand out from other property developers. Although soon, virtual reality would have become standard procedure in property development.

Still, you may want to join the virtual reality bandwagon now, increase your profits, and hit targets beyond your KPIs. These are benefits that come with being pioneers of certain types of technology.

Would you like to know more? Or perhaps you need a good recommendation on the platform to use for your virtual tour? Don’t look too far, Windfall’s team is here for you.

Let’s get you started, it only takes a few numbers and letters. 

Also, read our other article on how to get more clients from virtual reality advertisements.