Virtual Reality (VR) increases conversions and reduces the cost of turning prospects into buyers and tenants. VR is the cutting-edge answer to so many challenges of closing that sale, from staging and travel, to creating an emotional attachment to undeveloped properties! Here are just a few ways VR improves your bottom line on each property you sell.
VR Evokes Emotions That Sell Properties
Virtual reality answers the challenge of getting a buyer emotionally invested in long-distance or undeveloped properties. A 2017 study by Milano-Bicocca University revealed that VR evoked positive selling emotions like joy, curiosity, and excitement to the products. Furthermore, the Milano-Bicocca study shows that it makes the property more real to the buyer. They feel like they are investing in something they have experienced firsthand instead of traditional marketing.
VR Improves Conversion Rates
Virtual reality is the best form of marketing. Both the Milano-Bicocca and a Nielsen Study revealed significant increases in buyer retention of details. The Nielson study also demonstrated how buyers followed through on sales and sign-ups up to three times more than those shown products via traditional media.
VR Reduces Travel and Staging Costs
Virtual reality removes physical limits. You can show properties to anyone with an internet connection, even overseas. You can easily provide your clients 20 property tours in a day, without leaving your office. More importantly, buyers can tour any property at anytime from anywhere they choose.
Also, VR does not require physical staging furniture, storage fees, or moving costs. You can even provide customized tours of the properties with requested upgrades at no additional cost. VR allows you to customize the staging of the property to each potential buyer’s taste with a few clicks. It allows a buyer to explore how upgrades and furnishing options would look, with price tags to avoid sticker shock. This experience improves conversions and lowers the cost of presenting the property, increasing your ROI considerably.
VR Helps Sell Properties Before They Are Built
A key feature of virtual reality in real estate is its ability to let a buyer experience the finished property while it is still in the design or development phase! It is infinitely difficult to get a buyer emotionally invested into a series of images or floor plans. However, with virtual technology, they can tour and interact with properties that will not exist for months. The property is converted from an idea on paper, to a real and tangible experience they can see and explore.
Conclusion
Virtual reality tackles most of the common things that stall sales and kill profit lines in the real estate industry. It allows emotional investment in future properties. It breaks down time and distance barriers for prospective buyers and investors. It lowers the cost of travel, increases the number of tours you can perform each day, and allows for customization while reducing staging costs.
To learn more about how Pix can help boost your sales, try a risk-free demonstration to see how Pix-VR can give your business the edge it needs to compete in the modern market.
The Pix VR Team