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How virtual reality benefits estate agents and hotels

Virtual reality will change the way you do business, which can be a good thing. It’s the technology behind 360 virtual tours, which gives users the freedom to explore the world digitally, from any device. Step by step; room by room.

Now for the elephant in the room. The far-reaching impacts of COVID-19 are shaping up to make virtual tours even more crucial. On 13th May, Robert Jenrick, the housing secretary, made it clear that properties should be viewed virtually as much as possible. Similar advice has also been issued for other industries adapting to the implications of the pandemic. Virtual tours are an effective way to maintain a connection with customers and continue to do business despite the unprecedented new challenges that exist.

Technology like this will benefit a range of industries, especially real estate and hospitality, which aim to sell experiences as much as they sell products.

The average property buyer conducts about two thirds of their house hunting online. For estate agents, this is often a missed opportunity. An online listing might display a handful of carefully picked photos to attract buyers, but this doesn’t come close to the impression left by viewing a property in person. With virtual reality, 360 virtual tours can bridge that gap and unlock the true potential of marketing properties online.

Ten times more online views

But the benefits of virtual tours go further than that. It’s understood that property listings containing virtual tours are clicked around ten times more frequently than those without. Virtual tours will soon be an essential part of marketing properties, as well as other products and services online.

Selling a property is rarely straightforward. Most homes will be viewed up to 25 times before being sold, and 80% of first viewings don’t lead to a second. By providing potential buyers with an honest view of a property, 360 virtual tours can save buyers, sellers, and estate agents time and money. They can complement in-person viewings by ensuring that each viewer arrives with a genuine interest in the property.

For sellers, this means less time is wasted preparing their home for fruitless viewings. For buyers, this means less disappointments and more time to ask important questions. And estate agents waste less time showing people around homes that aren’t right for them, streamlining the working day.

Gain trust before they visit

The hospitality sector reaps similar rewards. 360 virtual tours give customers all the information they need to make an informed booking, which fosters a relationship of trust before they even set foot in their destination. Commercially, this is crucial. A customer is more likely to book directly with a company they feel comfortable with, which saves businesses the hassle of commission fees from mainstream booking sites.

Virtual tours cut out the middlemen.

Additionally, after capturing a customer’s imagination, 360 virtual tours provide a critical opportunity to upsell. Virtual tours can easily show customers the benefits of upgrading a booking. They sell experiences.

Google takes the lead

Google has already embraced virtual tours. It’s starting to incorporate virtual reality into its search results. Because of this, virtual tours will soon become a key part of search engine optimisation, providing another competitive edge for businesses that choose to adopt them.

For all these reasons, virtual reality is becoming a crucial tool for estate agents, hotels and venues. The time to adopt it may be sooner than you think.

Virtual tours are the perfect tool to solve new problems and harness new opportunities, which is crucial now more than ever.

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