The Cube: The Rise and Benefits of Virtual Reality Real Estate Tours
- 7 days ago
- 4 min read
As a Cube insider, you'll get access to interesting new trends, what we think about them and how you can benefit.
New Trend: What is a VR Real Estate Tour?
Traditionally, real estate marketing often includes 360-degree photos that are placed on a floor plan. Online, potential buyers can click on a spot and be able to view the room in all directions from that one viewpoint. Recently, this has been enhanced with a virtual reality experience. VR technology allows viewers to walk freely around the space and explore more naturally, providing a full virtual immersion experience. Unlike static listing pictures, virtual tours provide context, showing how rooms connect. Agencies create a 360 virtual tour with images for each room and utilize specialized software to stitch them together into a seamless experience. These VR tours can be seen in either a 2D or 3D format.
Digital 2D VR - Virtual reality tours are digital walkthroughs that can be viewed on any device, including a mobile phone. VR tours almost always feature a floor plan to enable the viewer to better understand the space.
Immersive 3D VR - An immersive VR experience is created when viewing the tour with a VR headset. This can be more engaging and memorable. Builders are leveraging VR to help buyers visualize their new custom home before it’s even built. These VR tours use a technique called VR visualization from photo-realistic interiors created from plans.
Virtual Reality (VR) can significantly impact how the brain learns and remembers by engaging brain regions involved in spatial navigation, memory formation, and emotional responses. VR's immersive nature can create experiences that are similar to real-life memories. A virtual tour tends to be more memorable than static photos. Buyers are more likely to return to a website to review a virtual reality tour and imagine themselves in the property.
New Insight: The Benefits of VR Real Estate Tours
The global Virtual Tour market size is expected to be worth around USD 15,923.0 Million by 2034 from USD 1,219.1 Million in 2023, growing at a CAGR of 29.3% during the forecast period from 2025 to 2034. In 2024, North America held a dominant market position, capturing more than a 35.7% share, holding USD 435.2 Million revenue.
VR tours are one of the best marketing innovations for the real estate industry. They offer convenience, save time, and attract more qualified buyers who are interested in a property. According to Mikus Opelts, CEO of Giraffe360, he states the advantages of virtual tours in a real estate listing: “Whether it’s a family with full-time jobs or an overseas investor using a VR headset, buyers can gain a high level of understanding of a property’s layout. This speeds up the buying process and saves time for both agents and buyers.” The advancement of AI has led to virtual tours becoming more accessible and affordable. Features like automated floor plan creation and virtual staging can reduce production time and costs to make it more efficient and effective for real estate agents. Currently, agencies are offering VR property tours to improve their brand image and reputation. They are embracing VR as a marketing strategy to get ahead of traditional real estate agencies.
Virtual tours help filter serious buyers from casual viewers. Since 50% of buyers prefer virtual tours over static images, these buyers are often more ready to make an offer after a virtual walkthrough. Data shows that listings with virtual tours sell for an average of 9% more and close 31% faster. It’s also beneficial for people who struggle with mobility, as it enables the user to determine if a property is suitable for their requirements and eventually visit it in person.
Virtual staging helps buyers see the potential of a home, which makes it easier to imagine the visual appeal for future homeowners. It’s significantly more affordable since it’s all high-quality photos; agents don’t have to worry about renting furniture or setting up the property with the help of movers. When done well, virtual staging can look very realistic. Modern digital staging tools have advanced significantly to allow designers to add furniture and decor that seamlessly blend with the actual room. VR tours help enhance the customer experience by providing virtual tours with plenty of interactive add-ons such as mortgage calculators, information about similar properties, and descriptions of neighborhoods.
New Action: What can you learn from VR Real Estate Tours?
When considering the impact of VR in the real estate industry, how might this insight translate into your business
Virtual reality provides buyers the opportunity to view a product prior to purchasing
3D visualization helps to visualize and manipulate design prototypes before physical models are created.
Providing a virtual showroom in a digital environment for customers to explore and “try” products.
Are you ready to take your business to the next level? We can help you evaluate the market and determine the best next steps. If you are interested, N³ Innovation can help you! Contact us today!
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