Virtual Tour: The “New Normal” in Real Estate
Jul 24, 2020 Real Estate News
The uncertain times of COVID-19 has forced property consultants and developers to adopt the virtual route for their prospective buyers in order to attract them to purchase a house during these times.
Virtual Tours, an emerging trend prior to COVID-19 crisis is gaining popularity rapidly in these uncertain times owing to the lockdown and travel restrictions. This technology is going to become an integral part of the real estate business in the coming times.
The prospective home-buyers are unable to visit the site as a result the property consultants and dealers are using drones to give the live status of the property the buyer is interested to purchase. The property developers are focusing more on digital presentations and virtual site tours so that buyers get some idea of the project sitting at home. This move by the property developers is essential as already the real estate business has witnessed a slump in sales due to the lockdown during the past few months.
Virtual Tours, an emerging trend prior to COVID-19 crisis is gaining popularity rapidly in these uncertain times owing to the lockdown and travel restrictions. This technology is going to become an integral part of the real estate business in the coming times.
The prospective home-buyers are unable to visit the site as a result the property consultants and dealers are using drones to give the live status of the property the buyer is interested to purchase. The property developers are focusing more on digital presentations and virtual site tours so that buyers get some idea of the project sitting at home. This move by the property developers is essential as already the real estate business has witnessed a slump in sales due to the lockdown during the past few months.
Boon for real estate developers
This tech-led solution is a boon for real estate developers as it helps in bridging the physical gap between buyers and developers amidst this crisis. The developers have also witnessed a one-third reduction in their expenditure which they used to spend on-site visits. The conversion rate of the prospective buyer post the virtual visit is also quite good.Leveraging on technology to woo buyers
Virtual reality will emerge as a new normal in the real estate industry. The following are some of the technologies which have led to a steep rise in digital adoption:- Live Drone views
- Virtual tours
- Online 3D view
- Project Webinars
- Online Booking Platforms
Are we ready for it yet?
Although this technology may seem to be very useful and also the need of the hour, at the same time it requires huge investment as well. It is also important to make good quality videos so that the prospective buyers feel satisfied. Thus it is important that property dealers should do proper research and start working on it so as to survive in these times and also be ready for future innovations in the real estate sector.Looking for property portal?
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