One of the most popular types of virtual tour software on the market is 360 virtual tour software. For a good reason might we add! 360 virtual tour software brings plenty of benefits to a multifamily property. As a top-of-funnel marketing tool, 360 virtual tours and 3D virtual tours have so much to offer.
A well-done 360 virtual tour on a website or listing page can help spark that initial interest or help your multifamily property stand out from a crowded market. Furthermore, you could put a beautiful overview tour on a social media page which can certainly get a prospective resident’s attention.
However, when it comes to your 2021 leasing strategies, 360 virtual tour software may not give you what you and your team leasing teams are looking for. Let us explain.
360 and 3D Virtual Tours
The question is where do 360 and 3D virtual tours fit? Both 360 and 3D virtual tours for real estate definitely have a place in the multifamily real estate lead-to-lease funnel. What they might not do is fit into what we’d traditionally look at as a leasing strategy.
360 virtual tour software creates a unique experience for prospective residents. They are a fantastic top-of-funnel marketing piece. On a website or listing page, they are exactly what you’ll need to convert a simple website visitor into an interested lead. That conversion is critical to engage with a prospective resident. These types of tours are often well-done and highly produced marketing pieces. Again, they are great to use on a website or in social media channels. They appeal to the general public and allow visitors to get an idea of the property’s vibe. Visitors can get enough information from these types of virtual tours to know if they want to engage further, to take the next step in the process.
And that’s what they are supposed to do. Virtual tour equipment and 360 and 3D virtual tour software are producing top-of-funnel marketing tools. What they don’t do is pull a prospect all the way from lead-to-lease. As a lead generation tool, they are top notch. Once that lead is in the door, a more personalized version of virtual tours need to come into play. 360 virtual tour software or free 360 virtual tour software can’t provide the details and personal touch a prospective resident needs. However, virtual leasing technology can. With this type of technology, you can provide real, transparent, and personalized virtual tours.
Virtual Leasing Technology
360 virtual tour software is a great marketing tool for websites and listing pages and will certainly get someone interested in the property. But once they go beyond the top of the lead-to-lease funnel, that prospect will need more to get to the lease signing phase. They will want real, raw, and transparent tours of their potential new home. Unless your community is planning on doing a 360 virtual tour of every single floor plan, or better yet every unit… it’s just not a true virtual leasing strategy. These virtual tours aren’t generally covering each unit. Plus, they aren’t conveying that accurate sense of authenticity, nor are they building the trust necessary for someone to agree to make your property their new home.
Why is that trust factor important? Wouldn’t the best 360 virtual tour software give you a product that could do the same thing? No matter how much you spend, no matter how expensive the equipment is, it just won’t give the transparency and trust a personalized tour gives. Trust and transparency is not only what converts leads to a signed lease, it is what makes them satisfied with the experience. They are going to see their exact unit, ask their questions and want answers. That can mean a series of pre-recorded tours selected specifically for the interests of the prospective resident. You could even go the route of a live video tour, a video tour component to accompany an in-person tour, or a combination of both.
Your property and leasing team needs to be equipped to give your prospects the type of tour they want, when they want it, and personalized to their unique wants and needs. That’s the 2021 leasing strategy your team needs. 360 and 3D virtual tour software have a place as a strong, top-of-funnel marketing tool. But they just aren’t the best virtual tour software to meet the requirements needed for a full virtual leasing strategy.
360 virtual tour software can do a lot for a multifamily community on the front end. But, it won’t have the results of a true leasing strategy. So, how DOES a 360 virtual tour fit into a leasing strategy in 2021? It fits as an early on component, but certainly not the entire thing.
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