Virtual reality (VR) is still a novelty for the vast majority of people. Their experience with it may be limited to anything from video games to pop-up exhibits in amusement parks. But those looking to purchase a luxury home may have more exposure to VR than sellers realize. The nicer a home is, the more VR can show off its quality. Sellers who help buyers become attached to the property—before they set foot on it—have the best chance of getting the unicorn price they were hoping for. See why VR has been so successful for those who want to maximize their marketing.
Consider a new home buyer located in a fast sellers market who has seen 10 properties in the course of a single weekend. They may have strong memories of two, vague memories of five, and no memories of the rest. Not only are home tours tiring, but they also take up more time than buyers realize. It can all lead to decisions that the buyer ultimately regrets in the long run.
VR is not only memorable, but it's also incredibly convenient. Rather than having to go anywhere, a buyer can stay in their real estate agent's office. They're entirely free to explore every room without feeling rushed or pressured. They can ask the questions that ultimately grow their connection to the property.
VR Vs. Video
A video tour of the home can be a great way to really show buyers the scope of the home. And while this is certainly smart and effective, VR helps a person feel as though they already live there. A video tour may help entice people to visit an Open House, but even there they'll have to contend with other buyers. They may be scared away from the perfect home for them before they even have a chance to really consider it. VR removes that element so buyers can relax.
Real estate transactions, even in popular areas, can drag on for months. Between the complications of escrow and the fickle nature of buyers, sellers can end up budgeting far less time than they need to complete the transaction. VR can't fix everything, but it can be a big part of a streamlined sale. VR can answer questions about the home, so a real estate agent doesn't have to. The tool can instantly help a buyer feel confident in the property, even if they've only physically visited the location once before.
A Nuanced Look
VR technology is beginning to really step up to the plate for home sellers:
- Future looks: A person can use VR technology to show them the home after they've already moved in. In these simulation programs, they can decorate the room to their liking, so they can take a virtual tour of it beforehand.
- Mortgage calculations: More than just the monthly payments, VR programs can show buyers all the numbers before they commit to making an offer.
- Neighborhood descriptions: From shops to restaurants to schools, real estate VR gives buyers a full run-down of the community.
VR helps all buyers decide on a West Hillhurst luxury home, whether that buyer is local or not. Some areas in Canada are being targeted by foreign buyers, and many of these buyers are willing to pay well above asking to secure the property from afar. VR not only helps a home seem more prestigious than one without, it can also help a buyer feel confident entering a bidding war to ensure they get a quality property.
VR has the ability to transform a home sale from ordinary to extraordinary. For the right properties, sellers can find buyers from all walks of life who may never have known the property was for sale without it.