Property Developers use 3D models to showcase their projects to buyers. And in recent years, they’ve started to use VR more often for these purposes. In this article we talk about ways for using virtual reality and metaverses to demonstrate real estate.
Why Property Developers Need VR Tech
Most real estate developers only use blueprints and 2D images on their websites. If a designer has modeled a 3D project of an apartment, it’s also often published as a regular image. Because of this, clients have to use their imagination and imagine exactly how the property will look like. And this affects their interest in buying.
This problem can be solved by demonstrating real estate in VR. This technology gives clients the opportunity to immerse themselves in the future property and “feel” it. Therefore, property developers started to use more and more options for demonstrating real estate via VR.
There are already studies on the subject. For example, in 2017, Claremont McKenna College conducted a study on how the demonstration of real estate in VR affects the client’s desire to come see the property live.
The results showed that luxury property buyers are 20% more likely to come to see a property after viewing a VR demo than without it. And in the case of other real estate categories, VR motivates buyers to come twice as well as images.
Research has also shown that clients respond differently to different types of 3D models. For example, a property consisting of many similar objects was less interesting than a small but detailed showroom.
Customers spend more time in unique, highly detailed locations. And if the property developer added interaction with objects to the showroom, for example, changing the color and type of texture, then the interest of customers increased even more.
Options For Demonstrating Real Estate In Virtual Reality
The real estate market uses several types of project demonstrations using VR. All of them provide a different immersive experience for the client.
Pre-prepared 360° VR videos. Some developers create a 3D project to showcase to their clients. You can only walk along the points prepared for this and take a closer look at the objects in such projects.
This is the easiest way to create VR demonstrations, but the level of immersion in it is the lowest. Such a video doesn’t allow the client to feel the size of the property, even if the client uses a VR headset to view.
AR apps. Real estate companies order the development of the apps, with the help of which they can transfer the demonstration of property directly to the client’s home.
In such cases, the client uses the camera on his smartphone or tablet to evaluate the interior and size of the object. And the level of immersion depends on the place in which the client examines the property, and on the performance of his smartphone or tablet.
Real Estate VR Tours. This is the option with the deepest immersion and client involvement. The sales manager accompanies the buyer and shows all the advantages of the property, as well as answers questions like during a real visit to the property.
Property developers also add interactive features to the tours. For example, the tools for changing the property finishes in real time, furnishing an apartment, and interacting with a physically correct environment.
Ways To Use The Metaverse For Selling Real Estate
Developers transfer projects of individual premises or entire residential complexes to the metaverse. Walking through such a virtual space helps clients to better assess the size of the property and try different interior options. The accurate transmission of proportions and dimensions through VR headset makes this experience the closest thing to actually visiting a property.
Designers add lots of 3D objects that can be moved, resized, and changed as desired in real time. All so that visitors can evaluate the desired design based on VR, and not on 2D images.
A location in the metaverse can also be optimized for demonstration of larger projects. For example, you can place digital twins of entire residential complexes there. And add portals between rooms for better space optimization. So it will be possible to demonstrate the whole area with different layouts of houses with courtyards, landscaping, entrance groups and apartments.
The metaverse also gives more opportunity to interact with users to a company representative. Metaverse platforms usually have a set of basic mechanics for communication, item management, and creator customization. For example, reaction keys, built-in voice chat, interface for moving objects.
Another company that creates virtual spaces in the metaverse is Exclusible. Its specialists create 3D models of objects for premium brands. And one of their areas is working with locations and transferring real estate to a virtual environment.
The company creates projects in partnership with the W3rlds metaverse. It allows you to walk around the location and see all the details yourself using a regular web-browser.
Other benefits of using metaverse platforms:
- working with a ready-made platform is easier and cheaper than creating an app from scratch;
- different types of real estate — both individual premises and entire building complexes with landscaping and the ability to move between locations are modeled for the metaverse;
- different use cases — property developers show apartments to buyers, hold press conferences, arrange meetings with partners and run events to attract an audience;
- the metaverse already has an audience;
- property developer’s entry into the metaverse draws media attention.
And if you also want to use the metaverse to solve your business problems, please contact us at the BeFuture studio. Our experts will develop a creative strategy to bring your company to the metaverse, as well as develop locations and objects.
TL;DR
There are many options for using VR and related technologies in the real estate market now. These technologies increase people’s interest in buying. With their help, the interaction of developers and clients is improved according to a number of researches.
What solutions are property developers using now:
- 360° video — the easiest way to demonstrate and low degree of immersion;
- AR apps — medium difficulty, medium level of immersion;
- VR tours — complex option with the maximum degree of immersion.
And metaverses for property developers are like ready-made platforms for transferring their objects there. They’re easier to use than creating apps from scratch.
Editor:
James Armstrong
Cover and illustrations:
Delilah Jones
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