Technology has really come a long way since the time it began. Now it is a part of our daily routine. Almost every aspect of the day is influenced by technology. Almost everything we do the whole day, from online yoga classes to the web series we binge-watch at night, has a flavour of technology. After the pandemic, imagining anything without a hint of virtuality is nearly impossible.
As adaptability is one of the critical factors for the survival of any industry, the “Real Estate Industry” has also jumped on the digitisation movement. Virtual Reality has completely revolutionised Real Estate Marketing. Its impact is more significant than traditional marketing tactics. Real estate brokers need to use real estate technology for marketing purposes.
Virtual is the new Real
It seems like we have been living in two eras, one before the pandemic, where the term virtual was just like some theoretical concept for some of us. We knew its meaning but didn’t have much experience with it. And the other, the post-pandemic, where virtuality hit us like a brick. We struggled initially but later adapted it like our basic human characteristic – Adaptability. Since then, it has always been different from the former world.
Workstations and study areas are no longer a luxury but a necessity. Staying indoors no longer means you have an off day at work or school. Working remotely is not an option anymore. Having a home with a decent work or study area is a must. Therefore, considering the necessity of new conditions, real estate brokers must grab this opportunity and try to make more work-friendly homes.
Augmented Reality & Virtual Reality
Augmented Reality is an upgraded, interactive representation of a real-world environment created using holographic technology, digital visual components, music, and other sensory cues. Augmented Reality and Virtual Reality have made reaching out to potential homebuyers in other cities more accessible. With the help of these tools, one can view the property quickly, which saves both time and money for homeowners and real estate brokers.
With the advancement of AR and VR, clients can have a more genuine experience of the home virtually. With the help of VR, homebuyers can take a tour of the property virtually and from anywhere. By putting on VR headsets, clients can experience immersive, three-dimensional walkthroughs of the properties. Tools like 360- degrees, photographs, and videos also play a major role. Virtual tours can help real estate brokers sell their properties more efficiently.
Well-furnished flats seem more appealing and attractive than empty plots. Also, homebuyers are more attracted to furnished homes. Virtual staging is a way to “stage” your home by adding artwork, crockery, and other furnishings to your professionally-taken home photos. The strategically placed desks; cutlery showcase the home’s critical assets, such as a spacious workstation or smart kitchen.
The buyers can see the property in its best shape through virtual staging. This allows them to think about how the space will look once they actually move in.
Social Media Marketing
Many real estate brokers have adopted social media as a means of marketing. Uploading and sharing videos of well-furnished sample flats with a brief project description invokes curiosity among homebuyers. Social media has reached the target audience and has proven a very effective tool.
Social media is one of the simplest and most popular marketing means now. Almost everyone uses social media every day; thus, it is more likely to be noticed by the target audience. Real estate brokers should take advantage of the same and use it as a tool for real estate marketing.
The expansion of real estate brokers in the online space has encouraged the buying process to become more streamlined. With the fusion of marketing and technology, various catalogues are available for buyers to view properties online. The chatbots and user-friendly interface helped the real estate buyer navigate easily and conduct property research online while saving time, money, and energy.
Real estate listings are freely available with virtual tours for buyers to take a cursory or in-depth look at the properties that interest them. It also allows potential homeowners to view the surrounding area and the amenities nearby, which helps them arrive at a better decision stage.
One can easily automate a home with a mixture of new technology like Artificial Intelligence (AI) and the Internet of Things (IoT). Smart homes have a lot of potential to tap into, hence a viable option to stay ahead in the game. From turning on the TV to switching off the lights, smart homes can ease the homeowner’s life, especially for senior citizens.
Smart homes provide ease of living and help increase security, check the health status of all home devices to prevent unwanted accidents, and manage the home more efficiently. It is indeed a boon for all working women and men who juggle work from home, childcare, elderly care, household chores, and, most importantly, office deadlines. It helps them to delegate tasks and prioritise accordingly, thereby reducing stress to some extent.
Adaptability is the key to every change. As the market and home buyers’ preferences change, so must the sales and marketing approach. Real estate brokers should also adapt to the changing needs of the buyers. Digital engagement is extensively used in all industries. The Real Estate industry, too, needs to adapt to this change to survive in the game.
However, like most industries, the real estate industry is using technology as fuel to soar high and reap the benefits of the virtual world. From virtual open houses to drone imagery and 3D tours, people are weighing their options conveniently from the comfort of their homes without stepping out. As rightly said, “Time is Money” using virtual tools for Real Estate Marketing seems like a win-win situation for agents and customers.