Over the last month or so I have posted articles on a new technique I thoroughly believe will transform the Real Estate Sales profession and make selling home easier. This technique may be combined with a renovation loan. Renovation lending and remodeling are two specialties which are well known to me. In this post, I want to discuss this new paradigm I have been discussing. Using Virtual Reality (VR) to illustrate what a room could look like versus how it looks today can be a tremendous tool and advantage for real estate sales professionals who utilize this technology. I have noted in my last posts how a home with an outdated or deficient kitchen could be illustrated in VR to show a buyer the true potential of the room. VR removes the obstacle most buyers have in envisioning the potential remodeled room.
These illustrations don’t stop at showing the same room in a different way. Professionals can show how removing a wall between two rooms can open the floor plan completely and with the use of Virtual Reality Designs and VR googles, buyers can be standing the VR room immediately. This is a powerful sales tool that is not being used today, but will be the way to sell in the near future.
Some will say that Virtual Reality technology won’t catch on or transform real estate sales. I can understand the hesitation, but start doing a search on Google of VR related articles and you will see the VR craze is right around the corner. My question to you is, “Do you want to be behind the curve or in front of it?”. One story I saw recently is about the “Future of Storytelling Festival” in New York City. Not only are the readers inserted into the story, but many take actual roles in the story and participate in the story line. In addition, some other uses are illustrating the story for readers, but another device emits smells and fragrances that go along with the storyline to help immerse the reader fully into the story, using more of their senses. Click here to go to the web site of the organization running the festival.
Think of the ads you now see on TV for Samsung’s VR Gear. Set aside the issues with the Note 7. This is similar technology to the Virtual Reality Designs of which I have been writing. VR Gear is being used to watch sporting events like NCAA playoff games, the Olympics and others, putting the viewer right on the sideline watching the sporting event. This is another area when the user is immersed in the scene and physically needs to move their head back and forth to follow the action, just like you were sitting courtside.
Like it or not, our world it moving to these interactive and immersive technologies and these technologies will become more common place and used in many more aspects of our lives. This topic and technique allows real estate professionals to be at the forefront of this technology for business use and purposes. At some point in the not so distant future, home tours may first be completed through Virtual Reality before anyone sets one foot into a property. These tours are not going to replace a real estate professional, but it will enhance the professional’s ability to show the perfect home to their buyers. This process combines the technology with a renovation loan to show a buyer the potential of a home with some deficiencies, so they can envision the home as they would like to live in it.
For Real Estate Professionals that adopt these techniques and combine them with a renovation loan, the process can unlock huge potential. Not only can these techniques unlock more opportunities but they will also allow real estate professionals to sell more homes, with less showings, and in less time. This is where virtual reality can make the biggest impact for these professionals. Creating a more efficient sales cycle that can sell homes faster. Most homes buyers do some kind of improvements or repairs to the homes they buy. Statistics have shown up to 85% of homebuyers will do some sort of repair or improvement to the home they purchase within 18 months of purchase. How much quicker may a real estate professional sell a home if the home is not only marketed with the improvements, but you can show the potential buyer what the home can look like while they tour the home!
Think of the properties you have currently listed. Do they have a poor layout, outdated kitchen or bath, or other deficiency? If so, show buyers the potential by immersing them into the new home using Virtual Reality. If you are a real estate professional and would like to learn more about this exciting opportunity, please contact me at Insights@RenovationRealm.com. I can discuss the technique and will do presentations for large groups of real estate professionals who wish to take advantage of this unique and “ahead of the curve” process.
To obtain virtual reality designs, click here to go to Kepner Kitchens Virtual Design Center to order customized VR designs.
If you are interested in partnering with a lender that specializes in renovation lending to complement your VR services, email me at Insights@RenovationRealm.com.
Don’t let your competition get the jump in your market. Learn about this exciting opportunity and be the first to bring virtual reality real estate sales to your area.