Have you ever Imagine catching a glimpse of what your future home will look like, even before it is even built?
This week, Show Me The Property would like to discuss what developers would do, when they market new developments built from scratch to future property buyers. Which is commonly known as the Developer’s Sales in the property market.
Keppel Land is one of the earlier adopters of this technology in the property primary sales market when they marketed Highline Residences showroom about 4 years ago. Their visitors use VR technology via a VR gear to visualize themselves being a resident in the upcoming development.
Keppel Land had used VR technology to market Highline Residences, a new condo in Tiong Bahru
The VR technology then only allows visitors to navigate themselves around the virtual version of the development’s three and four-room bedroom units as they equip themselves with a nifty headpiece and a clicker while remaining seated on a revolving chair.
The technology then could even feature the interior of selected suites within the development and engage buyers in an immersive 360 exploration of key landmarks around the vicinity through a really detailed introductory phase of the total VR experience.
Property viewings as an interactive experience
Bringing the buyer into the realm of 360 degree virtual reality platform is something Keppel Land, the developer behind Highline Residences, did to differentiate themselves from the competition 4 years ago.
It is the first time a developer in Singapore has leveraged on a 360 platform to enhance the property viewing experience for prospective buyers.
The technology then ( in 2016) requires users to put on a headset to gain access into the virtual reality (VR) show suite which was painstakingly created in detail in accordance to the actual size, and interior furnishings. Buyers then have a comprehensive view and feel of the exact unit he/she wishes to purchase.
That was 4 years ago and the 360VR technology has evolved tremendously eversince as it has proven to be an effective tool for engagement between Brands and consumers with marked increase in sales consequently.
Enormous Breakthrough in Virtual Reality
VR technology is no longer some fancy idea that resides in the minds of digital engineers and video game fanatics.
It can bring vast opportunities to the real estate market – a fact developers like Keppel Land are starting to recognize and take advantage of.
Showcasing new project launches through high quality 360VR platform can change the way people buy and sell homes.
The 360VR technology now has seen tremendous breakthroughs since then and has enabled a buyer to view 5 (or more) properties from the developer at the same time. This can be achieved with or without going down to the showflat physically.
Imagine the kind of hassle being saved from scheduling their time to drive down to the respective showroom venues and increasing the number of properties the buyer can view during a single session !
Not to mention Developers are looking to change the way show flats are done especially in land-starved Singapore. Will there be a need to construct such large, elaborate showrooms in the first place?
Developers could save much costs from this perspective and channel that capital to promote and market their properties in the digital space.
360VR technology as a new normal
In a report by Goldman Sachs, it states that the combined market of VR technology and augmented reality will be worth over USD $80 billion by 2025 – on par with the desktop PC market at present. It goes on to elaborate how it has already started to transform the real estate market, and the endless possibilities it can unlock.
In view of how the Virtual Reality technology has improved, and subsequently shaped consumers’ behaviours in the last 10-15 years, it is time to face the facts that VR technology can be the next step for the Realty market – which includes the Property Primary and Secondary Sales Sector in Residential homes, Commercial Sector such as retail shops, offices, co-working space, buildings and Industrial Sector such as factories, lands and warehouses. The list may even include Commercial Landlords and property fund companies such as Reits and property investment firms that handle their own portfolio.
It is also a good idea for strata titled property owners to engage such a service to market their property on their own too.
It would be time that you incorporate 360VR Virtual Technology platform into your brand’s marketing budget for your property. As it will be something property hunters come to expect especially with the restrictions and social distancing measures that comes with the onslaught of Covid pandemic since early 2020.
Consumers want convenience, accessibility and control over the information they receive in their property search journey, more than ever before. This is a solution that 360VR technology can provide and will cut your brand above the rest of the competition.
Don’t be hampered by the misconception that 360VR technology is beyond your reach. Learn more about how Show Me The Property is ready to create your custom 360 Degree VR in whatever format that best meets your needs.
Take a look at our portfolio for used cases and have a better understanding on how we can help you. We are interested to help you to emerge stronger from the effects of the Covid pandemic.
We encourage you to dream big and ask questions.
Reach Out to us, we are eager to surprise you.
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