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Property sales haven’t changed much; ever since the start of them becoming a commodity to be bought and sold, they’ve sold like hotcakes or whatever else sells well. The only thing that has ever changed in property sales is the price. In cities like Mumbai, there are reports that state property prices are over 1000 times higher than in the 1940s. That means if a property cost around 27,300 INR (currently the median salary in India) in the 1940s, it would now be worth more than 27.3 crore INR. Is it fair that the prices of properties skyrocket but the experience of buying one remains the same as 80 years ago?
It isn't, which is why many real estate agencies have begun investing in 3D visualisation tools to market their properties because, to justify a premium price tag, you need to offer a premium service. And it doesn’t get more premium than a 3D digital twin of the property you’re trying to sell that potential buyers can view in a virtual world.
How does this impact property sales?
Well, how wouldn’t it? What experience would you rather go through if you were looking for a house, one where you are made to walk around a half-built property with show flats that have been furnished in a hurry and you have to waste time walking around for about an hour looking at all the amenities, and by the time you see the last one you’ve forgotten what the first one was, or maybe even the traditional experience where you are shown static pictures of the property printed on a paper? Obviously not; the better opinion is very clearly touring the property in a virtual space. In the virtual space, you won’t need to walk around; you can just move through the property using a tablet or touch controls that are offered, and all the information would quite literally be available at your fingertips.
This kind of experience can lead to buyers feeling more confident in making such a big decision. Properties featuring 3D tours are known to sell, on average, 31% faster and at higher prices than those without. This can help real estate agencies generate more profit with minimal effort. While the initial cost of 3D visualisation tools may be a bit high, the ROI makes up for it a thousandfold. Also, instead of having to market a property that has already been built using 3D visualisation tools like V-Estate, you can instead market properties that are still being developed, giving real estate developers more funds to make the property even grander.
V-Estate
V-Estate is a 3D visualisation tool in which digital twins of properties can be viewed by buyers who are looking to buy, but V-Estate isn’t as simple as tools like Matterport, where it's just a 360 photo of the property. No, in V-Estate we create lifelike hyper-realistic models that have dynamic environments that will leave potential buyers in awe of what they’ve just witnessed. Not only will they be able to explore the 3D space that the property has been recreated in, but they will also be able to interact with a variety of elements, and their actions can also change the environment of the virtual world. If they want to feel what it would be like to control time, they can just change the position of the sun in the sky, but this isn't just a fun gimmick; the virtual world is fully ray-traced, so by changing the position of the sun, they’re also learning how the sun rays would enter their potential home at certain times of the day, gamifying the experience instead of info-dumping on them.
The impact tools like V-Estate have on property sales cannot be overstated; virtual worlds have the potential to grab the viewer's attention like no other, unlike the traditional real estate experience where you have to try your best to make the experience interesting for the buyer. With V-Estate, all you’ll have to do is give them the controls and watch them try to figure everything out on their own. This lowers the workload on the real estate agent, allowing them to focus on filling out paperwork later and maybe guiding the buyer through the virtual world if they need it. Still, the buyer curating the experience for themselves can lead to better outcomes. 43% of consumers prefer interactive video content over other types because it allows them to decide what information they want to view and when they want to view it.
So are you ready to up property sales using 3D visualisation and give your customers a sales experience they will never forget? If you are, you can read about our successful campaigns with real estate giants like Rustomjee and L&T Realty in the projects section of our site.
