PlaceTech | COMMENT | Digital replicas of your next home are waiting online

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The digital presentation of residential real estate has its peculiarities. We’re used to photos, videos or even static 3D tours, but the future brings interactivity and a new set of features that will benefit buyers and developers alike. writes Bogdan Nicoara of Bright Spaces.

If you’re looking to buy a new house or apartment, the first thing you’ll probably do is go online and do your research. You’re not the only one doing this; 95% of home buyers search for homes online and 51% of them buy online. Combining this data with the increasing popularity of real estate technology and advanced virtual tours will seem like an obvious necessity for any developer.

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Customer expectations are changing

It’s no secret that Millennials have a passion for video, AR, and digital content. This new generation of future home buyers is looking for the same tech approach in their devices as well as their cars and homes. Statistics show that listings that integrate virtual tours actually get 87% more views than those without tours.

Once you own powerful devices and operate them on a daily basis, it seems natural to look to a home directory for more. Open house viewings can still attract potential buyers, but most of them will want to make an initial call first.

Adoption of virtual tours and digital innovations in real estate has been slower, but the future is accelerating digitization to make it the norm. Buyers need more than just a tour – they need to interact with the space, see the exterior, download real images, and contact the agent or developer immediately.

Better informed decisions

Finding and buying the best home takes time and resources. Scrolling through recently updated (or not updated) listings, calling and booking a visit, finding out if the place suits your needs, and then starting over again can be frustrating and time-consuming.

Research shows that 54% of buyers skip listings that don’t include virtual tours.

An integrated platform that presents all of a developer’s properties with real-time availability and all relevant data meets the new requirements of tenants.

Homebuyers can discover entire apartment portfolios at their convenience and from their preferred device. They can interact virtually with their future home, see what it can look like furnished, explore the area, request a quote and decide if they want to book a live tour. This is even more important if the room has not yet been built. You can now access off-plan buildings digitally and get a better picture of what the apartments will look like.

A better process for developers

This also leads to process improvements for developers. Once buyers’ desires can be more easily met, landlords and agents can focus on the more personal aspects of their job and the sale.

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For our first private client, Intero Property Development, the platform we are implementing will have a management dashboard giving them an overview of spaces, availability, inquiries and finances.

This speeds up the rental or sale process by acting as a lead filter and allows them to keep up with market demands. It’s also important to mention that

The environmental impact of such a solution limits the number of printed promotional materials and travel for live visits.

Marketing Benefits

Homebuyers are already looking online for their next home. So how can landlords target them with unique marketing strategies that grab their attention?

Using new tactics and materials like 3D videos and digital brochures certainly helps. They can now showcase apartments, houses and even off-plan construction online on the channels their customers use. This allows them to track the performance of their marketing campaigns, analyze results and invest marketing budgets more efficiently.

Really estate goes virtual

It is now possible to buy land and build a house in the metaverse. Will real estate be fully digitized? A more plausible scenario is one where we build more bridges between reality and metaverse, creating a more balanced transition to digital universes.

I see these real estate universes as an integrated digitized approach to their portfolios of present, past and future assets. Buyers and investors will also be able to navigate through all of their buildings and easily move from one to another, built or off plan. This can simplify the process for homebuyers who now have all the information they need from a developer in one central place. On the other hand, it will be easier for landlords to manage and market all their assets and reduce vacancies.

There are several advantages that homeowners can reap when they decide to go digital. In fact, the decision to go digital or not will only be a choice for a short time. Providing customers with advanced digital replicas of a home will soon become the norm.

Landlords who are early adopters already know the importance of being digital first, becoming increasingly relevant and visible to their potential customers while staying ahead of the competition.

  • Bogdan Nicoara is CEO and co-founder of Bright SpacesBright spaces logo

Contact us: [email protected]

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