How Real Estate Agents Can Use Virtual Reality Property Tours

Crystal 

Walker

Content Writer

Real estate sales have always revolved around in person interactions, from house hunting and open houses, to handshakes and closing the deal. In recent years, Virtual Reality (VR) has become increasingly popular, with platforms like Meta or headsets like Oculus Rift, allowing an agent and seller to deliver experiences in the home buying process from anywhere in the world. Property tours are now more accessible than ever, but how is VR reshaping the way we buy and sell homes? Let’s take a look.

What is VR in Real Estate?

VR allows buyers to participate in an interactive, immersive, 3D experience when time and distance are a hurdle. Clients can do a walkthrough for a home or apartment online, exploring every corner, all without leaving the comfort of their couch. VR tours are available in various formats. While some companies are rolling out headset compatible experiences, other formats are currently most accessible to the general population.  You may encounter 3D renderings of the listing, interactive tours, or even virtual staging to allow visualization of the interior with different furniture or design elements. VR brings homes to life and allows an agent to showcase properties in a way photography and video cannot. The power of visualization through VR helps buyers emotionally connect with a space before ever stepping foot inside the interior.

A History of Real Estate VR

It’s truly fascinating to consider how far real estate technology has come over the decades. In the 90s, as the internet became more accessible, agents began to post static photography online via basic web pages. 

As internet speeds improved and technology advanced, an agent could now upload video tours, giving buyers a more dynamic panorama viewing of homes. The 2000s brought us 360° cameras that led to “virtual tours”, letting clients click through different parts of the house and navigate the rooms at their own pace with a panorama view. 

Around the mid 2010s, these cameras became more widely available to the general public and the immersive VR tour experiences we see today began to take shape thanks to advancements in headsets. The combination of camera technology and the likes of Oculus Rift, Microsoft, and Google enabled the modern Virtual Reality Tours of today. These immersive walkthroughs have become a critical tool in the modern homebuying journey.

Real Time Collaboration: A Game Changer for Buyers and Agents

One of the most exciting benefits of VR is its ability to bridge the distance between agents and buyers. There’s no need to drain your time and gas tank when you can coordinate with clients virtually. Prospective buyers can include family and friends in the process, ensuring everyone is on the same page. Real time, interactive communication can happen instantly, with everyone able to state their likes and concerns, and ask all of their burning questions. 

This online collaborative approach, free from time and location constraints, helps buyers feel more confident through the inclusion of trusted advisors. Whether it's a long distance move or simply a matter of scheduling conflicts, VR offers a unique way for multiple people to participate in the home buying process. This technology eliminates the frustrations and delays that accompany in person tours and transforms them into a more flexible, efficient, and stress free experience.

Other Benefits of VR for Buyers

• Flexibility: Gone are the days when a buyer had to schedule multiple appointments, take off of work, and drive around town to find the perfect home or apartment. With VR, more ground can be covered.
• Increased Confidence: Since VR lets buyers visit a listing as many times as they would like, they don’t have to rush through a tour or make a decision based on a single viewing. The ability to experience a home multiple times empowers buyers to feel secure in their decision making.

Benefits of VR for Real Estate Agents

• Efficiency: In person property tours are time consuming. With VR, agents can film tour videos to showcase properties, which can be shared anytime, anywhere. This provides a huge savings on time and travel costs for all involved. 
• Task Management: AI avatars can be trained to answer questions, property hunt, and conduct tours, freeing up agents’ valuable time. 
• Expanded Reach: VR allows agents to tap into a global market. A buyer can purchase properties from anywhere, opening up a pool of potential clients who may have never considered the property if they’d had to travel in person.
• Competitive Edge: Offering VR tours alongside great panorama photography lets you showcase a listing in a more engaging and modern way, helping you stand out amongst a crowd of agents. Buyers are often drawn to technology approaches, and VR can attract new clients and help you build a modern, professional brand. 
• Increased Closing Rates: Clients don’t need to waste time house/apartment hunting, instead focusing on only the homes they are serious about and willing to make offers on.

Challenges to Keep in Mind

• Cost: While VR is becoming more common, there is still an upfront cost involved for agents to implement the technology.
• Adoption Hurdles: Some buyers may be hesitant to jump into the world of VR. For those who aren’t tech savvy, there may be a learning curve.
• Lack of Personal Connection: When touring properties in person, agents and buyers develop a rapport through the natural conversation flow, body language, and shared experiences. Simply being together builds trust. VR may leave a buyer/seller seeking more support and a deeper connection.

The Future of VR in Real Estate

What’s next for VR in real estate? As technology continues to evolve, we will see even more exciting features added to VR property tours. Virtual renovations, 3D visualization tools, hyperrealistic design experiences, and deeper integrations with AI to personalize the home buying experience. It’s only the beginning. 

As participation increases, VR headsets could become more popular and  transform the market and how we buy and sell homes altogether. Walkthrough technology will likely be further refined, offering enhanced realism and interactivity that rivals in person visits. Imagine touring the interior of a property, negotiating with a seller, and signing a contract all within a virtual space. While that might sound a bit sci-fi, it’s not too far off. If you haven’t jumped on the VR bandwagon yet, it may be time to consider it. In a fast moving market, embracing technology isn’t just a trend, it’s a smart move that will prime your business for maximum efficiency and success.