The Toronto real estate market is one of the fastest growing markets in all of North America and it does not seem to be slowing down anytime soon. With the development of new technologies, it only stands to become more desirable and innovative.
One technology that could potentially revolutionize the Toronto real estate market is virtual reality. Ever since popular virtual reality brands such as the oculus rift and Google cardboard have been introduced, VR has gained a reputation for its high-end innovation.
It can also prove to be an effective tool for real estate agents.
Here are five reasons why real estate agents should consider using virtual reality.
1. Easier for buyers to envision
Virtual Reality can take the home buying experience to a whole new level for potential buyers. Usually, when potential buyers walk in, they either walk into an empty room or a staged property. What if the buyers had the option to stage it themselves?
With virtual reality, buyers would be able to customize the property according to their needs. For instance, Emerald City Condos, an award-winning luxury condo community in Toronto, implements VR to enhance the buyer’s experience.
They do this by allowing them to customize the furniture, color and make other customization.
2. Who could compete?
Any Toronto real estate agent will tell you that the real estate market in Toronto is very competitive and it is important to stay current. Condo development firms especially should consider equipping their agents with virtual reality tools to keep them ahead of the game.
Take VR Global for instance: It is an innovative technology company primarily servicing the real estate market, which provides innovative marketing solutions such as virtual reality and augmented reality.
If you want to stay ahead of the competition, then you would need to consider a technology like this to keep you ahead of the competition and build your brand at the same time.
3. Increases Sales
Do you want your sales to increase by at least 75-90 percent? If the answer is yes, then it is yet another reason to consider adopting VR for your real estate business. Let’s face it, this technology would make it a lot easier to obtain in this type of financial growth in a city like Toronto.
Properties here priced at $1 million or more experienced a 98 percent increase in sales just last year. You can imagine the return on investment rate doing open houses with 360-degree views and being able to showcase 40 properties at once.
This would definitely speed up the buying process and allow the agent to move on to the next potential buyer.
4. Impresses buyers and builds trust
There isn’t another technology out there that provides a more immersive experience than virtual reality. Buyers would appreciate the effort that you put into showcasing your properties.
It will also help build confidence in potential buyers and create a sense of trust with your real estate brand. Virtual reality itself is quite impressive as it provides multiple ways to utilize technology.
It can be used by scanning the property to create a real-world space or used along with a controller which allows the buyer to experience the property in the most convenient way possible.
This is innovation at its finest and with word of mouth, buyers can experience virtual reality firsthand. Utilizing virtual reality in the marketing campaign not only has a positive influence to buyer’s’ purchasing decision, it is usually considered the best type of marketing.
5. You could become a pioneer
“You were born an original don’t die a copy.” -John Mason
There’s no doubt that the Toronto real estate market does not lack imagination and innovation. However it could benefit more when innovative ways are implemented to showcase properties to buyers.
Although a few development firms in Toronto are using VR, many real estate firms are still hesitant to adopt it. Imagine the publicity you could get being one of the first to utilize the technology.
Ultimately, you will create an unforgettable experience and set the standard of how real estate agents should showcase their properties to buyers.