Using Virtual Reality in place of a model home eliminates costs and accelerates the luxury home sales timeframe from months to weeks.
The traditional method of selling homes in a luxury development has always started with the building of a model home and a model/sales center. Buyers would come to the site, tour the model home and retire to the model center to talk with a sales broker about the options and upgrades available. Maybe the model center would have a “mock” kitchen, or master bath set up, along with countertop, flooring and tile samples that the client could choose to customize their new home.
This process could take months. From waiting for approvals and permitting, to building the model home and model center. All while tying up your money, and weighing down your balance sheet. Don't forget the undocumented costs like interior design, staging, landscaping, plus overhead and carry costs during the approval and building process.
What if there was a way to eliminate these costs and accelerate the sales timeframe from months to weeks? No waiting for approvals, no staging and landscaping costs, while still allowing potential buyers to make the emotional connection with a property that drives a sale, even though it does not yet physically exist. Enter virtual reality!
The benefits of VR for luxury home sales
Virtual reality offers developers the opportunity to create a virtual immersive environment for potential buyers located anywhere in the world. VR eliminates the need for location based marketing, like model homes, allowing you to have a further reach with your marketing strategy. Basically, VR flips the traditional script of having to bring buyers to your location to tour a model and allows you to bring your home directly to them through virtual reality.
The cost in both time and money of building a model home can be hundreds of thousands of dollars. It can take over a year to gather approvals, permits and build your home. Virtual reality can have you pre-selling homes in as little as two to three weeks. For less than $10,000, you can have potential buyers touring your home in weeks, not months.
VR tours can be delivered via various online channels for example as a link in an email or via your website, viewed on a tablet, laptop or smartphone, or delivered through a VR headset like the Occulus Rift. A typical VR package includes full 2D – 360-degree photorealistic renderings of all the major areas of the home. This would include the main living area, the kitchen, living/family room, den, breakfast nook, and master suite along with outdoor rooms, entertainment areas, landscaping and exterior views that can be used to market your properties on all major online platforms. Also, you receive 3 – 3D 360 degree fully immersive tours of a select number of main areas like the master bedroom, master bath, kitchen, bedroom, living/family room, etc.
Virtual reality is a fully immersive activity that provides users with an emotional, visceral experience. Unlike a flat art render, VR can accurately depict scale since what the viewer sees is 'life size'. Renderings can include photorealistic details like French limestone floors, a crystal chandelier in the dining room and marble vanity tops in the master bath. Using drone technology, you can even include the actual views from various windows throughout the house. Another benefit of VR lies in the ability to tailor the experience to the user. For example, if a buyer prefers honed black granite countertops instead of Carrara marble, you can easily alter the experience.
Virtual reality can give your company a competitive edge. Not only can you accelerate the pre-sale process, but you can also eliminate the costs associated with building a model home. VR can bring your homes directly to distant buyers saving them the time and expense of traveling to your site making the entire buying process easier and more efficient.
This technology is already changing the way we buy and sell homes. Developers are currently working to add haptic technology or the science of touch. Soon users will don a headset and see their own hands in the virtual world. They will be able to open closet doors and feel hot water from the faucet. Smells are also being developed. Imagine if users could walk into the kitchen and smell cookies baking in the oven! Early adopters will be tomorrow's market leaders.
Are you ready to open a dialog? Give us a call and let us show you how virtual reality can help you cut startup costs, accelerate the sales process and sell more homes faster than ever before!