Now, virtual tours are a common real estate marketing technique. Buyers can freely explore a property with 3D virtual tours. So, they get a better understanding of what they are interested in. Meanwhile, for real estate agents and businesses, using virtual tours sets them apart from the competition.
These online property tours have become a must-have tool for success in the industry. But why are they such a hit in real estate marketing? Stay tuned to find out. We will explore how 3D virtual tours are changing the real estate game.
Did you know? A virtual tour influences a customer's decision in 75% of cases, according to statistics from Real Estate 360 virtual tours. So, implementing them in the home listing has become a necessity. While there are many reasons why 3D virtual home tours are getting popular, the following 6 are the most notable ones.
As long as there is an internet connection, 3D virtual tours can be accessed from anywhere. So, potential buyers can take a look around properties while sitting in their homes. So, 3D virtual tours make it convenient for buyers since they don’t need to visit the properties physically. Compared to listings that only use images, virtual tour listings get 85% more clicks. Aside from that, visitors stay 5 to 10 times longer on real estate websites with virtual tours.
3D virtual tours provide a comprehensive view of a property that is not possible with images and videos. Although sellers market properties by making videos demonstrating every room, that is not a convenient way for all users. That is because they can’t zoom in, pan around, and examine every nook and cranny in videos. With 3D virtual tours of a property, they can do this stuff. The level of detail offered by 3D virtual tours exceeds what traditional videos and photos can offer. So, it increases buyer engagement. According to a study by Realtor.com, properties with virtual tours receive 87% more views than those without.
As said earlier, potential buyers can pan, zoom in/out, and explore every corner of the property with 3D virtual tours. As a result, buyers better understand the layout and flow of a property. It is like physically visiting and checking the property, except buyers remain at home. The National Association of Realtors' annual report states -
● Virtual tours were highly helpful to 50% of the buyers.
● If a home doesn't have 360-degree photos, 54% of buyers won't even consider it.
3D virtual tours not only save time for buyers but also for sellers. Like buyers, sellers also don’t need to physically come to the spot and show the property to the buyers. It eliminates the need for physical visits until they are truly interested. This efficiency is highly appreciated by both buyers and sellers, especially in a competitive real estate market. According to a survey by Matterport, if a property has 3D virtual tours, 95% more people will be inclined to call about it.
As said earlier, buyers can inspect a property from their home when a 360-degree virtual view is enabled. Therefore, they can stay comfortable without needing to go out unnecessarily. This is particularly beneficial when potential buyers are located far from the property. Therefore, distant buyers are becoming more and more enticed by the thrilling experience offered by 3D technology. Amazingly, listings with 3D views get 50% more visitors than those without, according to a study by Realtor.com
Sellers who offer virtual tours gain a competitive advantage in the market. It showcases their commitment to providing a detailed view of the property to the buyers. So, they are not trying to conceal anything. Also, they provide an immersive experience for potential buyers through 3D virtual home tours. According to Zillow's May 2020 data - 32% of buyers saved properties with 3D home tours more frequently than listings without. Moreover, 3D virtual tours of homes can generate 400% more leads, as stated by Matterport.
3D virtual tours can be important for both condos and single-family homes (SFHs). However, the level of importance may vary depending on the circumstances and target audience.
Often, condos have limited space compared to SFHs. Potential buyers or renters can understand how the available space is utilized by using 3D virtual tours. On the contrary, SFHs tend to have larger and more diverse layouts. Virtual tours can provide a detailed view of each room and the outdoor spaces. As a result, buyers can understand the entire property.
Traditional ways to showcase beachfront condos using photos and videos are no longer effective. Sellers are using more advanced marketing techniques to sell oceanfront condos, especially those in luxury locations.
Mitchel David, a prominent real estate broker based in the picturesque Ocean City, Maryland, recently implemented an innovative virtual 3D tour feature on his website. This cutting-edge technology swiftly revolutionized the way potential buyers explored properties. Thanks to these immersive virtual tours, Mitchell found himself able to showcase condos in the highly sought-after Golden Sands complex with unprecedented detail and convenience.
As word spread about this exceptional feature, prospective buyers flocked to his website, leading to a surge in inquiries and ultimately resulting in remarkably swift sales of condos in the Golden Sands community. The virtual 3D tour not only saved time for both buyers and sellers but also contributed to a more efficient and satisfying real estate experience, solidifying Mitchel David's reputation as a forward-thinking and successful real estate broker in Ocean City.
3D virtual tours can also showcase shared amenities like gyms, pools, and common areas in condo complexes. This can help potential residents see the full value of the community. This trend is popular for both SFHs and condos in Los Angeles, California.
For SFHs with gardens, 3D virtual tours can showcase gardens, yards, or extensive outdoor areas. This can be challenging to capture with photos alone. Sometimes, a single-family home may have unique architectural details or custom features. Buyers or renters can appreciate these features through an immersive virtual tour.
For the above reasons, 3D virtual tours are becoming more popular than ever. Virtual home tours have become an essential way to keep up with the fierce competition in the real estate industry. 3D virtual tours can benefit both condos, SFHs, and other types of properties. Hopefully, this feature will become more upgraded and user-friendly in the future.