10 benefits of Virtual Tours for Real Estate property management
The new-age digital era is constantly evolving and changing the face of different industries. Considering the real estate industry, the most recent technological innovation is Virtual reality (VR). Going by the statistics, more than 77% of real estate clients aspire to have a virtual tour before making the actual visit to the site and more than 68% aspire to see the aesthetics of their furniture with the right positioning in their new home.
With acceptance and involvement of VR, it has become an engaging, excellent, and intelligent alternative to field trips, while reducing the barriers of expenses, logistics, and time. It gives a real feel of the place where you cannot be physically present. This, in turn, has deeply influenced the real estate industry, providing abundance of benefits.
If you peek into the vastness of the sector, varied domains and verticals branch from the root of the industry. Undoubtedly, each domain is gaining tremendous benefits from modern-day technologies. Here, let us discuss Property Management that includes a vast spectrum of services including marketing, leasing, renting, applicant screening, maintenance, managing needs of the tenant, and rent collection.
Here are the key benefits of virtual tours in property management:
When you are marketing a property and listing it for sale or rent, you can receive ample inquiries. However, meeting everyone personally poses a challenge while placing heavy pressure on your time and resources. With a virtual tour, you can help your potential clients see the property and have a real feel of the property. Whosoever feels like going ahead with the deal will undoubtedly get in touch with you. This way, you will be able to shortlist your enquiries and lay your focus on people who are genuinely keen to close the deal.
‘Time is Money’ is a well-known idiom. For all your marketing, leasing, management, and supervision operations, you can save your time through the use of virtual tours. When you save time, you are also saving money on fuel you’ll spend on driving to and from to meet your clients. Besides, you are also able to invest your money and time on more productive operations. All you need to do is upload the 360 tour and let your clients evaluate their needs and aspirations.
Time has changed with a swift transformation to a digital era. Rentals are also switching over to virtual visits and digital inspections to save time and money while having a realistic experience before actually being there. Property Managers use technologies like 360 videos, live inspection through video calling applications, and 360 walkthroughs to showcase the property to potential tenants. This gives an accurate idea of property size, layout, and condition.
Convenient Entry Condition Report
Entry condition reports are the records that cater to the property’s actual condition and its inclusion. This includes furniture, fittings, wall conditions, lights, windows, power points, security systems, and much more. So, generating such a report through virtual tours in conjunction with the written report helps the Property Managers spent at least one hour less in the property on taking photos.
Improved Leasing Efficiency
Virtual tours have proved to be a blessing for leasing staff and prospects. It offers an excellent and on-demand experience to clients. It also puts fewer efforts on the leasing staff with enhanced productivity. Based on the business development managers, the virtual tours is probably the best thing have adopted into their businesses. With virtual tours, they can skyrocket the leasing efficiency of their businesses.
Absorb a Realistic Experience
Virtual property tours easily and conveniently give you an option to manage, sell, or rent a property while helping potential clients access the tour anytime from anywhere. It gives tenants, or property buyers an opportunity to assess floor plans, dimensions, positioning of furniture, choosing color combinations, changing patterns, and evaluating floor covering through an inspiring harmonisation of pictures and videos.
Improved Efficiency of Real Estate Business
When considering the administrative tasks and functioning of real estate business, Virtual Tours have made a significant mark. It helps property management businesses improve the service quality and process efficiency through this amazing technological innovation. VR as a game changer innovation also helps in streamlining administrative tasks and attain full transparency for your owners, tenants and staff.
Better Decision Making for Significant Renovation
At a site when a renovation is needed, virtual tours are able to give an access to each and every position of the property. The spacing, the positioning of the furniture, the structure or design of the footpath, the architecture of the backyard, or the placement of the air-conditioning unit can all be easily assessed and evaluated through virtual tours to send signals for renovations if required. This makes it so easy for builders and property management businesses to execute customised renovations based on individual needs.
Stronger Bonding with Landlords
When it comes to connecting with landlords, there are many issues and concerns that are faced on a day-to-day basis. However, with virtual tours it has become easy, convenient, and hassle-free to make the landlords aware of the existing condition of their respective property. Every time it is not possible for landlords to visit the property and hence real estate professionals create virtual tours. Through the tour, landlords are able to judge and analyse the actual condition so that further decisions of placing the property for sale, rent, or mortgage can be put into consideration. This, in turn, creates complete transparency and stronger bonding with landlords.
Better Field Service
Virtual tours are substantial when it comes to field service. With this technology, property managers are not required to visit various sites for field service. Through the 360 virtual tours they are easily able to see exactly what the property looks like and make a wise assessment. With just a physical point of difference, it makes the process of field service so convenient, time saving, and fruitful.
The Bottom Line
Going deeper and deeper, you’ll realise there are more benefits of virtual tours in property management and the overall the real-estate sector. VR experts like Virtual Tours Creator are focused and committed to creating a flawless experience as real as possible to make the virtual tours almost matching physical visits. This, further looks to bring significant transformation and organisational changes for all real estate sector.