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3D Real Estate Photography Is Now A Reality - And A Must-Have

A rendering of a light-filled unit at the Hub, the 600-unit luxury rental complex at 333 Schermerhorn Street in Brooklyn. Steiner NYC

A rendering of a light-filled unit at the Hub, the 600-unit luxury rental complex at 333 Schermerhorn Street in Brooklyn. Steiner NYC

Tech disruption of the real estate industry shows no sign of slowing. From Zillow attempting inroads into agent-less offers to multiple players upending traditional broker-agent and agent-client relationships, real estate professionals ignore the changing business landscape at their own peril.

Another level of disruption has come in how clients discover and get to know properties. Until recently, online photos and video tours have been the gateway for potential buyers to narrow down the field of options for their new home. Google Earth and drone video allow us to get to know the neighborhood and the look and feel of the home itself, without the need to schlep across town or across the country to gather that crucial information.

But static photos and videos paint an incomplete picture. When a client arrives to tour the actual home, pictures often, one way or the other, don’t quite do a property justice.

Three-dimensional virtual reality (VR) is becoming one of the latest tech disruptors and Springs Homes, where I run sales and marketing, has embraced the disruptive capacity of this increasingly crucial tool. Here's how it works and some ideas for leveraging it in your own brokerage.

How To Use 3D VR As A Full-Service Brokerage

The visually all-encompassing nature of 3D VR has been a benefit in several ways: First, clients can see our listings in an immersive way, experiencing the home or apartment as if they are there. But 3D can also provide a valuable record of the condition of a property at a given point in time.

For a brokerage or property management team, this is a great way to head off potential conflict around condition before it starts. By creating a full record of the condition of a property, managers can go back and look at the data, account for normal wear and tear and make clearer decisions when a lease expires and new potential renters are exploring option. Buyers and renters appreciate knowing there is a record of what they are signing on to as well, so what is promised is what is delivered. We also use it for tradespeople who have visual confirmation of what needs fixing and where — the less guesswork in these situations, the better.

One benefit we didn't think of at first: for sight unseen leases, or when one spouse is not available to walk through the property, 3D VR is a great tool to expedite decision-making so the client doesn’t lose out on the opportunity to someone else.

Unsurprisingly, 3D VR can give your firm a competitive edge, from the listing appointment through the whole customer experience of the brand and level of service. In a 3D virtual tour, that pile of boxes, that hole in the drywall, has nowhere to hide. It encourages sellers to put their best foot forward and gives buyers and property managers the “same page” to work from in terms of the condition of the property.

New construction is another area a full-service brokerage will benefit from 3D VR. We use the 3D camera to take pictures and do virtual walk-throughs for clients in the building process. When a homebuyer or builder is relocating, the search, the purchase and the build process can be a logistical challenge. With a virtual walk-through, instead of the client needing to make multiple trips, they can simply take a 3D tour at major milestone points. This way, they can look at every nook and cranny on their own terms. Buyers also send these tours out to their friends and family to show progress, which is a special bonus. Our client feedback on this service is overwhelmingly positive, and it demonstrates to the builder that they are a true partner in the transaction.

My firm is now exploring the idea of using this technology to showcase what’s interesting and inspiring about a given neighborhood. The idea is to scan, say, an area rec center or club house, and offer the organization a link to the content created by us that they can share. At the end of the day, we want to be disruptive in the most positive ways possible.

Like any real estate brokerage should, we are keeping our eyes open for the next disruptor on the horizon — perhaps the “Smellovision Open House” app is coming next, with the scent of baking bread wafting through your VR home tour! For now, 3D VR can give your brokerage an edge and added confidence in your work and reputation as a trusted resource in any real estate transaction.

Originally written by Joe Boylan for Forbes

Virtual Staging for an Open House

Open House is a great way to get your property noticed. 

If you have ever held a Open House you are aware of the fact that bare walls don’t produce good impression. However, the bulky staging won’t encourage potential buyers to get the property either.

Moreover, estimation of the property scale is of great importance. It is not really possible when the room is stuffed with things that, besides, may not appeal to a client. 

You should plan everything beforehand including your budget. We believe you don’t want to waste thousands of dollars on staging the house with furniture and décor that will be removed afterwards, and in case the property won’t be sold you will have to pay for staging AGAIN. Is it worth it? 

Definitely not when there is such a unique and cost-neutral option as VIRTUAL STAGING.

There are lots of advantages to choose this method of presentation of possible interiors of your property.

First of all the prices are really attractive comparing to real home staging, the difference is just crazy. The average price for real home staging is $675, however, it is the cost only for stager’s service. A full staging will cost about 1% of the sale price.


With virtual staging you will spend a couple of hundreds of dollars that will be totally worth it as you can use the images not only for showing them to your client but also for putting them on your website and sale platforms such as StreetEasy, Trulia, etc.

Once we had an ASAP request from a real estate agent to virtually stage 3 photos: a master bedroom, a home office, a child's room. So the photos must have been done in… A DAY. Just to let you know, it takes about 18-30 hours per photo to recreate the space in a special program, choose preferable furniture and décor, place it into a photo and put it on a final render. Haven’t mentioned the time spent on corrections? (+ several hours depending on how quick the client’s feedback is).

So we threw all our forces to make it happen and it did. The work was quite intense, however, our main goal is to make everything possible to meet the demands of the client. 

Virtual Staging: Optimizing Vacant Listings as a Marketing Technology

As it is known, demand creates supply and real estate business is a perfect marketplace for introducing new technologies and marketing tools. Surely, people do want to buy and sell homes but let`s remember, that year after year consumer becomes more and more uncompromising.

Real estate virtual staging is not a new service, it first became available nearly 10 years ago, but at that period it was not very popular. And do you know why? Because the quality of virtually staged photos was far away from perfect, the colors were sharp and bright; furniture looked like it was taken from a graphically poor computer game.

Technically, they lacked the most important element, which guarantees virtual staging effectiveness – realism. But there is also another requirement virtual home staging should meet – it is intended to help the buyer to visualize his future home, to see himself living in it, to catch a feeling of sweet home, not just bare-walled construction. This aspect deals with psychology, here is important to influence buyer’s decision and that is the most challenging part of every business.

Virtual Staging Services – The Idea & The Way It Is Achieved

So, it becomes obvious that somewhat funny pictures with terrible graphics cannot reach out the buyer`s heart but, fortunately, 3D technology development does not stand still as well as the professionalism of 3D designers. Nowadays, these two have reached incredible heights and in 90% of cases, it is impossible to distinguish real interiors with ones modeled in 3D.

The process of creating virtually staged room is described many times on the web, so there is no necessity to go into details. The idea is to add virtual furniture, design and decor elements on the photo of a real vacant room, received from real estate agent. Before starting work on the project, сustomers are asked to send pictures of interior designs they like to make sure they will be satisfied with the style and general conception. It is also possible to replace existing furniture or to change colors or textures of walls, flooring, and ceiling. But this variation of virtual staging services is more expensive because it requires full recreation of initial design in 3D.

Internet And Money Rule The Business

Just a small question, where is real estate photography used to make much money? You all probably guess it right; the answer is real estate brokers websites!

Now we’ve reached the point of online listings because this is the area where virtual home staging can bring maximum benefit. Excessive explanations are unnecessary, photos of empty rooms look ugly and unattractive, the buyer sees just walls, floor, ceiling, windows and at the best they are in good condition.

Now imagine 10, 20 pictures of this kind. They do not cause interest because they are not special (we have already spoken about consumers hunger for all the most beautiful and outstanding). Nearly 80% of realtors proved that use of virtual furniture for real estate had increased online sales to a significant degree.

Virtually staged pictures developed by the professional talented designer are able to cause wow-effect being published online. It is the same with showing before – after photos, customers love to watch them so much and this is only to your, real estate agents, advantage.

Is a good product always expensive?

The price for virtual staging services varies depending on a number of photos, turnaround time and reputation of 3D visualization company. On average, in 2017, it is about $60-$100 per photo and, in fact, some real estate agents consider this price high. However, as always, everything is known in comparison.

For example, traditional staging is much more costly arrangement when realtor can pay up to $2000 for a house of medium size. In addition, physical staging implies monthly payments due to the contract, so if you sold the properties in some days after staging, you would pay for some months anyway.

Of course, you can save and not use the service at all and if you are patient enough to wait for some months to find the buyer this variant will go with you. After all, the growth of our business is our personal responsibility and it is up to you to choose the strategy of its development.

Original link

Virtual Staging: An Innovative Way to Attract Buyers

As technology continues to improve, growing numbers of home sellers find themselves looking into the benefits of using virtual staging to help sell their home. But just what is virtual staging and how does it stack up against physically staging a home to sell?

As the name implies, virtual staging is done on the computer rather than in real life. This means that, unlike traditional staging, you don’t rent any furniture, decor, or accents. Instead, virtual staging digitally inserts all of those same items into photographs of empty rooms in the home. This, in turn, helps to attract potential buyers online to tour the home, where they can then use their imagination and consult the virtual staging photos in order to envision how each room would look with furniture inside.
 

Preparing for Virtual Staging

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One of the most important steps when preparing to virtually stage a home is to professionally photograph the rooms that will be virtually furnished. It’s crucial that these images are high-resolution to ensure that the final listing product is perfected for online buyers.

Make sure to remove any unwanted items before capturing each room on camera - this will speed up the process of editing. Once the photos are primed and ready for staging, the virtual stager can add furniture and decor to compliment the overall style of the home. High-quality listing photos improve the final staged product by giving the stager the opportunity to work with an ideal canvas.
 

Why Choose Virtual Staging?

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Virtual staging has a number of benefits but the biggest is of course price. While staging an apartment in New York City the old fashioned way costs an average of $2500 per month, virtual staging typically costs between $39 to $199 per room. What’s more is that this fee is a one time cost as you don’t have to pay for renting furniture. As the average home for sale in 2018 stays on market between 34 to 53 days, this means that virtual staging could save sellers several thousands of dollars. And that’s not even considering that many stagers require a minimum contract!

In addition to saving money compared to traditional staging, virtual staging can also increase the value of your home as well. In fact, according to the National Association of Realtors (NAR), 33 percent of buyers’ agents said that staging a home increased its’ value by one to five percent when compared to similar homes that were not staged. Not only that but 39 percent of sellers’ agents said that staging a home greatly decreased the time it spent on the market.

Another pro of virtual staging is that gives sellers the opportunity to create a strong first impression with potential buyers. As Jen Williams, Redfin Market Manager, says, this is important because “buyers will imprint on the first photos they see of a home and will develop their first positive feelings and attraction to a property at that time.”
 

Important Tips

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If you choose to stage your home virtually, there are a few things to keep in mind. First, remember to provide potential buyers with photos of the empty rooms as well as their virtually staged counterparts. This will help to show buyers that the home they’re thinking of touring not staged in person so that they are not confused when entering the home.

Virtual staging can be an incredible asset when you’re selling a vacant home, or one that has wild-card tenants or dated décor. It allows potential buyers to view the right vision of the home – not empty, but one that’s comfortable and easy to live in.

Written by Angie Bersin

4 Ways Virtual and Augmented Reality Can Reshape Real Estate

Jessica Lee Star/Digital Trends

Jessica Lee Star/Digital Trends

VR and AR technologies can help real estate agents save time and deliver a more alluring experience for clients.

Imagine being able to take an open-house tour of a home for sale in your town without actually driving to the property; or, while walking your dog, taking a photo of a house in a nearby neighborhood and finding out how much it last sold for. These kinds of experiences are coming from a real estate agent near you, if they haven’t already.

Virtual and augmented reality are poised to grow in all kinds of industries in the years ahead, from manufacturing and logistics to healthcare. IDC predicts that worldwide revenues for the VR/AR market will reach $13.9 billion in 2017, which would be an increase of 130.5 percent over the $6.1 billion spent in 2016. The research firm expects to the market to then explode over the next few years, reaching $143.3 billion in 2020.

While VR produces a computer-generated reality that users can interact with (usually via a headset), augmented reality involves digital information being brought into a user’s field of view and overlaid onto the real world, which they observe usually through a smartphone’s camera.

One industry that VR and AR have already started to transform is the real estate business. Long associated with in-person tours and the enticement of empty apartments or houses (preferable to those filled with the current owners’ furniture), house hunting stands to gain as AR and VR make the process more convenient for real estate agents. The technologies can also deliver a more engaging experience for potential buyers and lead to increased sales.

Here is a quick primer on the ways in which VR and AR can reshape the real estate market.

1. 3D Tours Offer an Immersive Experience

Virtual reality allows real estate companies to provide prospective buyers with immersive, 3D tours of propertiesMatterport, a 3D camera technology company, is working with web-based real estate firm Redfin to provide 3D walkthroughs.

“We’re making a digital copy of the inside of the world,” Marc Rehberger, Matterport’s director of commercial real estate, told Forbes. “It increases the amount of time spent on an ad between three to six times when there’s a Matterport model on that ad. ... It’s very, very sticky.”

Matterport has scanned more than 550,000 properties since it started in 2011, and the company, according to Rehberger, is “supplying a dimensionally accurate model of the space exactly how the human eye would see it. People who are investing, people who are using [and] people who are buying love the ability to understand the space because it’s natural. It’s exactly the way it is.”

Prospective renters in Arlington, Va., can now tour apartments using VR. Developer CRC is partnering with Immerse Virtual Reality Nation to create a VR tour of a new apartment building still under construction, according to an ARLNow report. “Using an HTC Vive headset with two motion sensors, residents can experience a realistic, 360-degree home tour of what their apartment will look like after construction,” the site reports.

Such tours cans save real estate agents time. “Ask any agent about the time suck involved in showing clients houses,” John Mazur, CEO of real estate app Homesnaptold Forbes. “VR/AR is going to change the game here and allow potential buyers to ‘experience a home’ at another level and better filter out homes they do/don't like, saving agents time.”

2. Digital Furniture Lets Buyers Make a Space Their Own

Open houses often mean that potential homebuyers are walking through a house fully furnished by the owner who is selling. AR allows potential buyers to see the home with their own furniture or styles in mind.

Virtual staging technology company roOomy allows buyers to visualize any apartment or room in a house in the way they would want to decorate it.

“Drawing from a catalog of more than 100,000 furniture and household items, roOomy allows you to upload a picture of a room and virtually decorate it to reflect your personal tastes,” Forbes reports. “Agents, investors and buyers alike can take advantage of these amazing tools.” RoOomy works in concert with Google’s Tango, an AR technology.

3. Virtual Walkthroughs Sell Buyers on an Unbuilt Location

VR can also help backers of a real estate project visualize the property for potential buyers before construction even starts.

One company, Virtual Xperience, uses 3D modeling to let users wearing VR headsets access full walkthroughs of properties that are in development or under construction.

Developers can use the company’s technology to create customized color palettes, materials, furnishing and lighting conditions, to help buyers personalize and visualize the unbuilt properties, Forbes reports. The company offers 2D images, 3D walkthroughs and a 3D flythrough video experience.

“As a developer, it's often hard to have a prospective buyer visualize the end product. This causes longer sales times, reduces the ability to pre-sell projects, leaves funds stuck in projects longer and delays the cycle,” Ridaa Murad, founder of Breakform Realty Ventures, told Forbes. “With VR/AR, you can now show prospective buyers what the end product will be, adding a concrete level of tangibility and increasing the ability to pre-sell projects.”

4. Gets Details on a House While Walking Your Dog

Want to get the details on a house you like in the neighborhood without looking up the listing? Realtor.com’s updated Android application now has a feature called Street Peek that uses AR to display details about a home when users point their phone's camera at it. “Even if the house isn't for sale, you'll still see all the important details from the real estate website's database,” Engadget reports. The app offers details like listing or rental price, recently sold price, estimated value and the number of bedrooms and bathrooms in the house, and can even deliver that info on groups of houses at the same time.

Originally written by Phil Goldstein for BizTech