When it comes to the latest trend(s) in business technology, nearly every industry is touting the virtues of virtual reality. And, for many, it’s for good reason. Virtual reality holds incredible potential to make a massive, and positive, impact. For example, training in virtual settings can help those in the manufacturing industry master systems and equipment operations – something that saves both time and money.
Another industry many are holding up as a shining example of the potential virtual reality holds is real estate. Arguably, virtual reality DOES have the potential to immediately resolve many of the issues leasing and real estate agents face. It offers the ability for potential new home buyers or renters to experience more properties in a more immersive manner online which would potentially save time and thereby increase sales efficiencies.
That all sounds great, right? Well, before buying into virtual reality as the panacea for all the troubles leasing agents face, perhaps it is time to consider something else. What could possibly beat the amazing technological advances offered to the real estate world by virtual reality? It’s actually quite simple – reality.
While virtual reality can help bridge many gaps within the buying and leasing market, it’s not a cure all. Real-time, live video allows potential home owners and renters to get the benefits of a real life tour with a real agent alongside those of a virtual reality tour. Don’t believe us? Check out these ways real beats virtual and how to integrate true reality into your processes.
Reality vs Expectation
When touring a property online using the virtual reality platforms currently offered, prospective buyers/renters are touring perfect produced and manufactured environments. One of the main complaints many leasing agents hear from consumers is that the property or specific unit “doesn’t look like the pictures.” And yet, many see a virtual environment as the solution? Sure, virtual tour software allows users to have a more dynamic view of a unit and community, but it’s still marginally different than the same polished, professional photos already on the website.
By offering a real time tour, prospective residents are able to get a real look into the exactly unit they could be living in and a feel for the community in general. You can’t photoshop live video, which allows the onsite team to showcase their space in a real, transparent way that virtual reality tours simply cannot do. And because it’s live, it eliminates most all surprises when that prospective resident does come to visit or, better yet, moves in. No community is perfect, but by going live, potential buyers and renters can ask their questions, see what they want to see, and be confident the community is perfect for them.
The Tour is Personalized
Many times, those touring a community via virtual reality are stuck with what they are offered. Meaning, they can’t ask to see any additional details outside of those that are already in the virtual environment. Because of time and cost barriers, most multifamily websites only offer select virtual tours of their floor plans and maybe an amenity or two like the workout center or game room. That limited selection does not always show prospective residents what they want to see.
With a real time tour, there is a real human-being (typically a leasing agent) walking that prospective resident through the property. Potential buyers and renters are able to ask the agent to show them areas of specific interest to them, the specific unit they could be living in, and more. One person may care about a large and spacious bathroom, while another may care about storage, and another may care the most about the view from their unit. No matter what it is, real time tours allow the host of that tour to truly connect with that prospective resident and provide an experience as close to them physically being there as possible.
Speaking of the Leasing Agent…
Virtual tours are built to sit on a website and be do-it-yourself, click-through experiences for website visitors. The main element missing from those experiences is the main asset at any multifamily community — the onsite team! A real time video tour adds that real leasing professional to the mix. As almost any good agent knows, making a personal connection with a potential new resident is worth a million virtual connections. Being able to laugh with the person during the tour, answering questions on the spot and hear the sound of their voice / see their face while touring the property? Those are things no virtual tour can provide.
While virtual reality has its place in many, many industries, real estate professionals and consumers can’t settle. Real time, live video tours allow potential buyers and renters to not only have all the benefits of a personalized, real tour, but that is combined with the time and money saving benefits of being able to have that experience from home, the office or anywhere. It’s time for real estate to no longer simply follow other industry trends and start leading the way with technology built for real estate — and that means doing better than virtual reality.
At Realync, we truly believe that real is what life is all about. If you want to learn more about how you can equip your team to connect with prospective residents in these new, innovative ways using real time tours, please reach out to us.