Ryan Mahoney (Dubai, UAE)
Ryan Mahoney (Dubai, UAE) is a real estate expert with extensive experience of the Middle Eastern property industry. He is also an appointed member of the Dubai Chamber of Digital Economy’s advisory council. This article will look at developments in the proptech sector, exploring the huge benefits of virtual reality (VR) technology and virtual tours for both consumers and realtors alike.
Anyone who has been through the process of finding a property to rent or buy will realize how inefficient and inconvenient that process can be. Potential tenants and buyers identify promising properties online, perusing pictures and accessing basic information about the property. However, the next step in the process to renting or buying a property invariably involves physical viewings, which can be costly in terms of time, energy, and money for the client and the agent alike.
This is where VR technology comes in, showing vast potential to revolutionize the real estate sector, streamlining processes and making them more convenient for everyone involved. VR technology enables realtors to stage virtual tours, eliminating the need for potential buyers or tenants to be physically present at the property and potentially enabling them to view dozens of properties in a single day, all without leaving their own homes.
With a virtual tour, a sequence of panoramic images is effectively ‘stitched’ together, enabling the consumer to experience the location virtually and giving them a feel for the space without actually visiting in person. This experience could be delivered via their desktop computer, laptop, tablet, or even their smartphone.
Some virtual tours even include sound effects, such as narration describing points of interest, or music. Many incorporate buttons that can be clicked by the user to take a snapshot of a particular part of the tour.
Virtual tours show huge promise in the real estate sector today. VR enables consumers to experience immersive, three-dimensional tours, ranging from guided visits to interactive virtual staging that allows visitors to place virtual furniture in the space they are viewing.
Ultimately, virtual tours have significant benefits for consumers and agents alike. From the consumer’s perspective, VR enables them to find their perfect property irrespective of where they are in the world. Meanwhile, from the agent’s point of view, VR technology enables them to grow and scale their business. Virtual tours enable realtors to deliver top-level services to a much wider audience than would otherwise be possible if they had to schedule dozens of daily, in-person viewings, driving down costs and freeing up staff for other tasks.
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