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As international buyers continue to invest in the United States’ commercial real estate market, 3D Virtual Reality technology is easing the friction caused by time differences and travel expenses. These technologies are helping to speed up the process by offering unique experiences and perspective to international buyers looking to invest in American real estate.
Here are three applications helping agents market to international buyers.
Showing properties has never been easier due to virtual reality. Potential buyers can experience a space at a whole new level and better filter out properties they are not interested in, which saves both the client and the agent loads of time. Virtual Reality reaches buyers globally because an investor in China can look at properties in New York while they’re eating lunch. There is less of a time and money investment, which ultimately increases global investors’ interest in the process.
Multi-Participant Guided Tours
International buyers can take control of the buying process touring the property on their schedule and inspecting the details as they desire. Conversely, you can provide a guided or self-running tour. Guided tours are incredibly powerful as they are just like showing space, albeit before it is even built and without requiring prospects to travel thousands of miles. Even more, the tour can be with a group, all beaming in from different locations and visualizing the space from their own unique vantage point!
Renderings, photos and video loops are great, but fully immersive and interactive multi-participant tours provide an unrivaled experience in property visualization. By bringing the whole group together at once, they can ask questions and build a common level of enthusiasm and interest.
Engage with Interactive Design Elements
For foreign investors looking to invest in development sites, it may be hard to make a final decision if they can’t visualize the end product. This results in longer sales processes and reduces the chances of pre-selling properties, leaving funds stuck in limbo.
Virtual Reality allows prospective buyers to see what the end product will be, which gives them a tangible product, increasing the ability to pre-sell properties. VR allows international buyers to make changes to see how different features could affect the property’s look and function. With VR, prospects can instantly change colors and materials, modify layouts and add furnishings. Engaging with the property is another step forward in the buying process.
VR has Arrived
Until most recently Virtual Reality was incredible expensive to create and extremely difficult to consume. Today the development of VR Property is fast and cost effective. And, with the increased power and high=speed bandwidth readily accessible globally, deployment over the web and even to mobile devices makes it incredibly easy to consume.
So whether you are marketing condos to investors on the other side of the world or space to tenants on the other side of town, why aren’t you using 3D VR? It may be the most compelling and efficient way to market real estate.