From Virtual Staging to Virtual Reality: How Technology is Radically Changing Real Estate Marketing
Real estate has always been about showcasing properties in the best way possible, and technology has become a game-changer in this industry. In recent years, virtual staging and virtual reality have taken center stage in revolutionizing the way commercial properties are marketed and sold.
According to a report by Goldman Sachs, the use of virtual reality in real estate is expected to become a $2.6 billion industry by 2025. This growth prediction highlights the potential that technology can bring to the real estate industry.
Virtual staging has become a popular alternative to traditional home staging, where furniture and decor are physically placed in an empty space. Not only does this save time and money, but it also allows buyers to envision the potential of a space without physically staging it.
Virtual reality tours provide a 360-degree view of a property, creating an immersive experience for potential buyers. This technology has become increasingly important since the COVID-19 pandemic, when in-person tours were not feasible or safe.
Apple is reportedly planning to release a virtual reality headset in the summer of 2023, which is expected to be a high-end device with a hefty price tag. This move is likely to further accelerate the adoption of virtual reality technology, including in the real estate industry. As more companies invest in and offer virtual reality experiences, it will become increasingly important for developers and marketers to incorporate this technology into their strategies in order to remain competitive.
“Virtual reality has become a critical component of our sales and marketing efforts,” said Ross Glickman, CEO of commercial real estate firm, Claremont Companies. “It allows potential tenants and buyers to fully immerse themselves in a space and experience it in a way that traditional marketing materials cannot replicate.”
In addition to virtual reality, augmented reality has also become a popular tool for real estate developers. It allows buyers to visualize the future of a development project and experience how a space could potentially look after construction.
According to a report by Deloitte, virtual reality and augmented reality are expected to become increasingly important in the commercial real estate industry, with over 70% of industry professionals expecting to adopt the technology in the next five years.
As technology continues to advance, it’s important for real estate developers and marketers to stay ahead of the curve. Virtual staging and virtual reality have proved to be invaluable tools in showcasing commercial properties in the best way possible. By embracing these technologies, developers can provide potential buyers with an immersive experience and a glimpse into the future of their properties.
Are you using virtual reality or augmented reality in your real estate marketing efforts? Share your experiences in the comments below!
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