9/10 Real Estate Professionals Will Use Virtual Tours by 2024

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24 November 2022

A recent research report suggests that computer vision and augmented reality will be widely adopted across the commercial real estate sector in the next two years.

The paper found that 75 per cent of commercial real estate professionals already use virtual tours — and 90 per cent of them will do so within the next two years.

In July 2022, Resonai surveyed 300 industry professionals, 49 per cent of whom were senior management. The biggest driver of virtual tour adoption was found to be enhanced marketing (62 per cent), improved prospect viewing experiences (55 per cent), lead generation (39 per cent), and prospect filtering (29 per cent).

Along with boosting revenue, adopters say virtual tours enhance brand perception (95 per cent), prospect viewing experiences (92 per cent), prospect qualification (85 per cent), employee training (82 per cent), and qualified prospect volume (92 per cent).

Exploring a Space Remotely

One of the key benefits of this tech is the ability to showcase properties at any time. No matter how many times a potential client wants to view a space, a detailed virtual tour can give them a consistent experience. It also helps with a real estate company’s green credentials, as Bogdan Nicoară, CEO & Co-Founder of Bright Spaces writes in an article for Forbes:

“With airline travelling responsible for approximately 5 per cent of global warming, business travel can see a diminishing impact on the environment through virtual tours. Visiting spaces digitally reduces emissions of CO2, while also saving time. “

“Commercial real estate is moving at a breakneck pace,” said Emil Alon, CEO of Resonai. “Professionals in this industry are actively looking for every advantage, and visualisation technologies like virtual tours are definitely providing them with that.

“This technology has a massive impact on marketing and sales performance — especially when used in concert with AR and VR. People working in real estate simply cannot afford to miss the boat on this.” 

Barriers to AR Adoption

The survey also found that the main consideration preventing the respondents from implementing the technology was “lack of consideration”, which suggests that real estate businesses may not currently have the bandwidth to explore it. It was the main barrier for respondents in the retail, office and industrial categories.

The complete report can be downloaded at https://www.resonai.com/survey-state-of-virtual-tours-commercial-real-estate. 

Picture: a photograph of a person using a VR headset. Image Credit: Unsplash

Article written by Ella Tansley | Published 24 November 2022

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