Pros and Cons of Virtual Reality for Real Estate

It isn’t the first time we raise the topic of Virtual Reality tours for real estate and the best way to do it. But as with all other spheres, VR for real estate has its assets and drawbacks. If you want to know more about the two sides of the same coin of the virtual world, stay with us.

As much as we would like it to be true – there is nothing perfect in this world. There will always be something influencing your decision of whether to use a certain service in your business. And at the same time there will always be factors affecting your choice in favour of VR. Let’s start with something that can be considered as disadvantages of VR in real estate industry.

Preparing for such an important purchase you would want to find the fullest information possible about the building, the layout of the apartment and, if we talk about real estate on the primary market (new developments) – the view from the window.

Relative costliness

After all, virtual reality is a very resource-intensive service. Certainly, one can argue about the price difference of VR real estate tour and income it may bring, but initially it is really a very substantial item of expenditure for a customer. Without going into detail, high cost is determined by engaging well-paid professionals from different spheres, using costly technical devices both in the pipeline and in use. Therefore, if eventually you want to obtain a high-quality product that would meet your expectations, fulfil its function and bring income – first off, you need to allocate a separate budget for VR tours.

Need for special equipment

In order to watch a VR property tour one needs special glasses and sometimes even management console. This may create difficulties in terms of mobile service. However, now there is a variety of devices of this kind of technology, so choosing the one that suits your requirements and budget shouldn’t be a problem.

Poor usability for small projects

If VR for a large project like an apartment in a skyscraper, residential complex, villa or virtual reality for commercial real estate is a cost-effective solution, for a small individual project it actually might not be commercially beneficial. Nevertheless, even in this case one must take into account other factors as it is quite possible that this could be the best promotional solution for you.

Considering the pros and cons of Virtual Reality for real estate, let us move on to its positive points:

The uniqueness of the service

Despite the technology being not very new and quite well-known, virtual reality in real estate has not become very wide spread yet. VR tour may become your trump card in sales as а potential client is much more likely to be drawn to your offer.

Compactness and no need for physical mock-ups

The world of virtual reality and 3D space is definitely more compact than the physical model of any building or premises. That is why it is an undoubted advantage that you do not need to create huge models, full-scale mock-ups or printed matter. On top of that, this technology provides full mobility which is especially important if you visit numerous exhibitions as a participant and need to demonstrate your product. No additional luggage or worries about delivery of your delicate equipment – all the necessary things will fit in your bag.

High informative value

Most of things can be demonstrated or explained to you one hundred times and you can still be left with a very incomplete picture. But as they say, a picture (or a VR tour in our case) is worth a thousand words – you see it once and almost immediately know what you will get. Buyer or potential investor will have an opportunity to see with their own eyes what they are investing in and be sure of the outcome.

Using Virtual Reality tours, a user will be able to have a full immersion into 3D environment, investigate every detail, have a look around all the rooms. It is a kind of a game that allows you to feel as if you are directly in a room – and who wouldn’t like to walk through the rooms of their future, still non-existent apartment? VR is always about the excitement from something new but not quite real. It is like unreal reality where you find yourself and start seeing a whole new perspective of the future.

Possibilities to change

Architecture and construction are almost always synonymous with changes and they are usually long-lasting and not exactly cheap. The use of virtual reality solves the problem of expensive and time-consuming modifications. Not only will you have an opportunity to make changes more quickly and easily, but also customize the system so that a user, for instance, should be able to choose the colour of an object etc. Certainly, much depends on the configuration of the program, but just imagine how exciting it would feel to be not only an observer but an active user of a virtual world.

If you would like to check out Advantages and Disadvantages of Virtual Reality for Real Estate, we would love to help and make sure that all the advantages of VR have become undeniable arguments in favour of this service for your company.

You may find more of our VR tours of unbuilt properties in our PORTFOLIO

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