Its a beautiful view.

Stunning really.

The perfect sunset.

You pull out your phone, go to Facebook to upload a 360-degree photo of your shenanigans.

But, surely there’s more to this 360-degree technology than just sunsets and views?

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(Source) Um, yeah sure…?

Well, young grasshopper, for the real estate industry, 360-degree and Virtual Reality is revolutionising the way they sell houses!

The managing director of Jellis Craig Real-Estate Andrew McCann considers the technology to be a win-win for sellers, buyers and agents.

He explains that providing people with an opportunity to “walk through” and view a property online, usually sends a qualified purchaser straight to the open-for-inspections.

Furthermore:

“The technology is particularly helpful for international and interstate buyers who can’t physically inspect a home; with a 3D virtual walk-through, buyers have the confidence to go ahead and effect a purchase.”

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(Source) *Sigh* if only I were married to a gazillionare

Wait, what is it?

So a 360-degree scan, takes a series of photos of the room, and then it sticks all the photos together to create one file, so you can view the room from a different vantage point.

This takes approximately two hours to shoot a home, and the final content can be back with the agent within 24 hours. And the cost? Depends on the size of the house- it can be anywhere between $250-$750.…… so many coffees I could buy with that….

A scan essentially creates a 3D virtual walk-through of a property. The technology allows the prospective buyer to move around within a room, and from room to room. Not only do they receive a 360-degree photo, they can step outside and view the floor plan from a dolls house perspective.

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Source: from a 3D scan of a property in Prior Road, Malvern East sold by Andrew McCann

Okay, so whats the big deal?

Scann3D found that online property listings, that have 3D tours, have property hunters spending at least 52% longer than the listings that just have photos and a floor plan. They also found that there is an 80% increase in inquiries for properties with 3D tours!

Matthew Hood Real Estate Group at Sotheby’s International Realty says that:

You could do real estate open houses with 360-degree views and have a client come to your office and check out 50 homes through a head-mounted display and then pick the top ones to visit in person,

How.

Freakin.

Awesome?!

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(Source) Am I too enthusiastic about this?

So from a digital marketing point of view, Raphael Ruz, creative manager and photographer with Urban Angles states they’re seeing growing demand for 360-degree photography and virtual (static) tours as a Customer Relationship Management (CRM) follow-up tool. This allows real estate gents to target interested parties who have come through a property.

Furthermore, advanced analytics can demonstrate time-specific information as well as analyse those rooms within a property that are the most visited. This important for marketers, and the real estate agent, because at the inspections, the agent can try increase the client’s perception of a room they didn’t spend much time on, or even focus on the room that the customer “loved” online.

The rise of virtual reality and 360-degree scans and videos in real estate is growing rapidly. Soon, it will become expected that all agents have this option on their listings, and, once this happens, according to Hood we will ask  ‘How did we do this before?’

Tell me what you think? Would you inspect a house using this technology? Can you think of other industries that could benefit from this technology?

Shelley Barr-Waanders

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