Real estate is one of the many industries that has seen an increase in the adoption of interactive technology when it comes to its marketing. Developers are realizing that while traditional marketing tools like brochures, static renders, and floor plans are important to sell a flat, they aren't enough to convince today's buyers, which is why they need to build a digital twin platform. It allows them to create a unique digital twin that represents their project and can use it to boost sales. As such, here is a developer’s guide to what a digital twin platform is, its benefits, and how it helps developers sell pre-constructed properties.
What is a Digital Twin Platform?
A digital twin platform, as the name suggests, is a program or an application that is used to create a virtual or "digital" representation of an object, environment, or, in the case of real estate, a property. Developers can benefit from it a lot because a digital twin can be a replica of any type of project, such as a building, apartment, villa, commercial property, and more. The reason they rely on it is that, unlike basic 3d models, these replicas are capable of showcasing not only the external appearance but also interiors, amenities, and more.
Since digital twins have so many uses, several real estate developers have started integrating them into their projects. This is why digital twin platforms are important, as they allow developers to decide how they want to use the digital twin. For example, they could create one for pre-sales, replace it with traditional brochures, give interactive exploration options with it, or even pair it with an IoT scale model to use for predictive maintenance.
Why Should Developers Build Digital Twin Platforms?
The reason a developer should build or integrate a digital twin platform is that it offers several benefits during the different stages of a project's lifecycle. During the pre-construction phase, developers could use digital twins to virtually create structures and run simulations to test their integrity. If the design is sustainable they could use it for the final construction else remodel it if it fails the test, this saves them time, money, and resources as it prevents destruction of already built incorrect structures.
A digital twin is also useful for the sales team both during the pre-construction phase and after development of a building is complete. It helps them visualize the property better for buyers and stakeholders. They could even integrate CRM tools into the digital twin to help maintain and sync all of the documents and information necessary to pitch a unit; they could also use the same to track potential leads. Finally, a digital twin's lifecycle isn't just over when the building is ready; property managers could link it with a scale model and use it for predictive maintenance.
How Digital Twins are Changing Pre-Construction Real Estate Sales
One of the main hurdles a developer faces is selling a property that is still under construction. Most buyers understandably want to see and get a feel for the flat that they are investing in. However, when the flat isn't ready, convincing a buyer isn't easy. This is where digital twins come in, as they allow buyers to experience their future property in an interactive manner. Here are some of the many benefits they offer:
Makes Under-development Properties Tangible
Since digital twins in real estate are virtual replicas of properties, a developer can create one based on their vision without having to wait for the building to be completed. This makes for a tangible experience that buyers and stakeholders can virtually explore while still tracking the progress of the physical site.
It allows them to check out the interiors, exteriors, amenities, and more in a way that makes it easier to understand the scope of the project, which isn't possible when traditional marketing tools like brochures, architectural drawings, and more are used.
Buyers can Fully Interact with the Property
Most digital twins often offer features like 360-degree virtual exploration. This allows buyers to freely move around the flat in a manner similar to how they would while exploring a show flat in person. Using interactive floor plans, they get a top-down dollhouse view of the property and can easily switch between the different rooms. Several modern digital twins even offer extra features like window view simulations. Thus, a buyer could interact with a touchpoint on a balcony or a window and then run simulations to change how the view outside would look to make it windy, rainy, sunny, or experiment with other weather conditions. All of these features allow them to interact with a property that lets them know everything they want to know about what they can expect from their future home once the development is complete.
In conclusion, building a digital twin platform is important for developers because it allows them to design the digital twin as per their project's needs. It offers them several benefits throughout the different phases of a project's lifecycle, like the sales team using it to pre-sell units while the property is still under construction, while property managers can use digital twins for predictive maintenance after the building is ready.
However, a digital twin can only be beneficial when it is accurate. A lot goes into building a digital platform, like defining the platform’s objectives, designing the UX/UI, using appropriate software like Unity or Unreal Engine that works best for the project, and integrating 3D assets and property data. If a developer also wants additional features, they then also need to connect different APIs, integrate CRMs, and make it compatible with IoT systems to make it scalable and easy to update. Alternatively, a developer could simply hire an agency that has experience with digital twins. This is where V-Estate comes in; we offer clients our very own digital twin platform, Spaci. It comes with all of the features a developer needs, like exterior visualizations, dynamic lighting simulation, a 4K 60fps real-time engine, and more. So, if you are looking for a digital twin platform for your next project, book a demo with us now!
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