The Importance of Virtual Tours in Real Estate
Are you a practicing real estate in 2019? If so you have probably heard of the rapid development of Virtual Tours. Don’t know what a Virtual Tour is? Unsure of different options? Do not worry! Today in this article we will take you through the facts about Virtual Tours, the advantages, disadvantages, and an insight into the future of real estate virtual tours!
Virtual Tours are the newest way for real estate professionals to share and display their real estate listings with buyers through existing Multi Listing Systems. There are many options to explore when looking and deciding on the right marketing for real estate properties. With companies like Zillow offering free do it yourself virtual tours it is becoming easier and more practical to include virtual tours to your real estate listings.
What are the different types of Virtual Tours?
That’s a great question! With primarily two types of Virtual Tours being marketed for real estate (360°, 3D 360°) it is best to know the ins and outs of each so that you can make an informed decision for your clients properties. Lets start and talk briefly about 360° virtual tours. These are online tours that allow you to use a number of different branded interfaces to click through 360° photo points to give a sense of walking through the home in person from the ease of a computer. 3D 360° virtual tours on the other hand combine elements of a 360° virtual tour with innovative 3D mapping software and hardware allowing a full scale model of a real estate listing to be displayed as what is called a Doll House. While both of these two options provide value to your listings, having both 3D 360° gives scale to virtual tours while being able to integrate more like interactive floor plans. Having both 360° and 3D virtual tours will benefit listings greatly are but is widely not available due to location or price.
What are the benefits of Virtual Tours for a home buyer?
With more and more studies from Redfin, Matterport, The National Association of Realtors and others in the Virtual Tour industry, it has become more evident just how impactful having a virtual tour on a real estate property can be. Studies done by Zillow looking at what buyers value when buying a house states Millennials turn to online resources to help in the buying process more than any other generation. They continue to say that while decreasing with age, 88% of Millennial home buyers heavily rely on online resources when buying and searching for a home. This includes having professional photos, floor plans, video content, and virtual tours. Among these resources it is reported that 45% of millennials cited virtual tours as an important resource when purchasing and searching for a home with a slightly smaller percentage of Gen X and Baby Boomers finding the same importance. While photos are important to a buyer the value of virtual tours on real estate listings is becoming larger as more and more young people buy and rent properties.
What about sellers?
With 3D tours you get the inherent benefit of more buyers showing interest in your properties but how much does this actually help? With Redfin partnering with virtual tour companies they have shown that with the help of 3D 360° virtual tours, agents were able to sell real estate properties an average of 10 days faster and for $5,100 more than similar homes. With more value coming from virtual tours it is becoming a vital part of being able to sell and show homes faster and more efficiently alongside professional photography.
Are there disadvantages to Virtual Tours?
While Virtual Tours are still not commonplace in Real Estate it makes availability and cost a determining factor for many real estate agents. While this is an issue in many areas of the United States the expansion of Virtual Tour companies is making it easier and easier to find a provider that can work within your unique budget. However, from certain providers virtual tours can help you save money from property showcasing materials. With many providers offering package deals of photos, floor plans, virtual tours, and professional property videos it has been shown by Pixel 360 that when using a virtual tour provider for showcasing you can save up to 50% of what is spent on professional photography alone.
What is the future of Virtual Tours and Real Estate showcasing?
With virtual tours becoming a larger part of real estate it is expected to see progressions in how a home is showcased and presented to buyers on MLS. Progressions of being able to fully show a property and land makes the process of buying a home much easier and assuring than ever. If you are curious about how virtual tours can benefit you and your listings, visit Pixel 360 and get a head start on the rapidly developing field of virtual tours.