Virtual Reality Helping to Sell NYC Real Estate / by Rosana Vidal

 Image courtesy of Onex.

Image courtesy of Onex.

With an increasing number of tools available for software developers, virtual reality technology has become more affordable and accessible over the past few years. Now, real estate firms and agents are harnessing that technology and using it to sell properties, sometimes before construction has even started. One development in Flushing, Queens has sold 75 percent of available units using virtual reality tours via Oculus Rift. These tours allow potential customers to see where the unit is inside of the building, and then “float inside” to see a furnished rendering of the unit. While the pace at which you move through the units on these tours is controlled by the sales representative, here at FloorplanGRP we allow clients to move through tours at their own pace so they can get the best possible sense of the unit.

These 3D tours give clients a better idea of the scale of a unit than a 2D plan or rendering, which is why they’re being used to sell new developments and renovations, particularly in the luxury market. The recent boom in new luxury developments in New York City means that there are more high-end units to sell, which is notoriously difficult for realtors and firms. When a buyer is expected to pay tens of millions of dollars for an apartment they’ve never seen, developers and realtors need to give them the best possible idea of what the final product will be. It’s hard for people to gain that understanding from 2D plans and renderings. Virtual reality tours allow customers to move around within the space as if they were walking through it, and it even lets them see renderings of what the view from the unit will look like.

It’s worth noting that while VR technology is primarily being harnessed in the higher end of the real estate market, the tech will also be showing up in other sectors over the next few years. VR could be particularly useful in buildings with high turnover, such as those who serve college students. It can be used to show units which are currently occupied by celebrities or other public figures, where in-person tours are not possible. It could also allow brokers to show multiple properties to clients right from their office, saving time for both parties. If you’re interested in learning more about how to use this technology to showcase your listings, please reach out to us at info@floorplangrp.com.