Virtual Inspections are the new open home because— “The new tech-savvy home buyer thinks visually, places a premium on authenticity, and wants totally immersive on-screen experiences.”
Millennial Home Buyers Expect Virtual Inspections
More than one-third of all home buyers nowadays are millennials. This accounts for two billion people, or about 27% of the world’s population. Here in Australia, professionals in the real estate industry, including astute home builders, property developers, architects, interior designers and real estate agents are trying to find ways to influence millennial home purchasers.
Professional real estate businesses know that traditional sales-talk and marketing is ineffective with this new technically advanced generation. When it comes to purchasing property, these digital natives think visually, placing a premium on authenticity, and want fully immersive on-screen experiences.
Post Covid Pandemic VR Home Inspections are the New Normal
The Covid pandemic has resulted in various safety measures and restrictions put into place in the hope of totally eradicating, or at least slowing down the spread of the virus. Most people agree that learning to live with Covid is now the new normal— mandatory mask wearing, social distancing, sign-in aps, vaccines, testing, border restrictions and ongoing strict policing of all such government imposed covid requirements.
Virtual inspections are part of the New Normal for real estate— potential buyers simply log into online real estate portals to do a virtual property inspection whether looking through a builder’s display home, an off the plan apartment or any property that is listed for sale.
As a pioneering virtual reality (VR) business, Interactive Open Homes works with local builders, property developers and real estate agencies.
True, some industry purists believe that completely immersive and explorable virtual reality experiences are really a passing trend. Virtual inspections and VR tours of homes for sale, modern workplace interiors, and display villages powered by high-resolution gaming engines are, in my opinion, an inevitable technical evolution. Over the next few years, virtual inspections WILL become the gold standard for all real estate transactions as well as many other industries. You only need to consider the advancement of online bookings for travel, accommodation, restaurant reservations, retail, subscriptions and so on.
Your Brain Stores Virtual Reality Encounters as Memories not Data
According to new research, the human brain stores virtual reality encounters as memories rather than data. Virtual inspections will be the most significant real estate sales tool of the twenty-first century due to its capacity to elicit powerful physical and emotional responses from potential home buyers.
We are experts at utilising this technology’s power, speed, and realism to create powerful walk-through videos that beautifully showcase properties. Interactive Open Homes is at the forefront of the virtual reality marketing tool revolution that is coming soon.
Property Developers & Builders Virtual Display Homes
VR, in our view, not only gives home sellers the best opportunity to show their home, but on a larger scale VR gives builders and property developers the perfect opportunity to show off a wider selection of homes or to demonstrate more unique and creative designs without taking financial risks.
Staffing a showcase home might cost up to $100,000 per year on average. A virtual reality home, on the other hand, costs a fraction of the price while providing the following benefits:
- Viewing is available 24/7 on any connected device anywhere in the world.
- Enhanced client engagement and efficiency
- There is no need to travel to remote estates or construction sites.
- The chance to see all of the available home designs and options,
- Interior designers have picked furniture that you may see and buy.
- A reduction in the time it takes for a product to be sold, and
- The crucial educational and entertaining value that the digital generation seeks
VR & Buying an Off-Plan Apartment
Off-plan marketing is improved with virtual reality construction. Potential consumers’ fear of the unknown is reduced via on-screen exploration that elicits real-world physical and emotional responses. The buyer gets exactly what they see in the virtual reality.
Virtual reality will be a must-have for the must-Tweet, must-Instagram generation, according to digital research organisations like Telsyte, which predicted a 25% household reach by 2021.
Will virtual reality, however, spell the end of high-priced brick-and-mortar showrooms? Some think not, but reality is it will highly likely be the case— whereby VR display homes will be able to provide the all-important “WOW” factor for off-plan home designs that is impossible to achieve any other way, while also improving the home buyer’s journey in a variety of ways.
Property Brokerage Hervey Bay Virtual Home Inspections
Property Brokerage, a local boutique real estate agency in Hervey Bay uses Virtual Inspections or virtual reality walk-throughs that allow potential buyers to examine a house from their own unique perspective and get a sense of how life might be in the space. Many of their properties are quickly sold via the virtual open home inspection, thereby allowing the buyer to secure the property subject to an actual inspection usually to be held within a week to ten days. Virtual inspections allow interstate buyers, many of which have previously missed out on properties that sold before they were able to attend an open home or private inspection.
Get in Touch
Interactive Open Homes is Hervey Bay’s leading VR / virtual inspections property marketing business, specialising in providing cutting-edge real estate experiences. Send us your ideas, and we’ll assist you in bringing them to (VR) life.
