Nine Out of 10 Commercial Real Estate Professionals Will Use Virtual Tours by 2024
A research report released today by Resonai (http://www.resonai.com), a computer vision and augmented reality company, found that 75% of commercial real estate professionals already use virtual tours — and 90% of them will do so within the next two years. The rapid adoption of virtual tours within the real estate industry is being driven by the technology’s impact on the bottom line, as 90% of adopters report increased revenue. Based on a survey of 300 real estate professionals, the “State of Virtual Tours in Commercial Real Estate” report explores the impact this new technology is having on the industry. The complete report can be downloaded here .
Virtual tours are interactive experiences delivered using web, mobile, or desktop applications that simulate the experience of navigating a physical property. Commercial real estate professionals use the technology to improve performance across their sales and marketing endeavors, from improving prospect qualification to providing employee training. While virtual tours were growing in popularity before 2020, the pandemic catalyzed significant adoption within the space.
In July of 2022, Resonai surveyed hundreds of industry professionals — 49% of whom were senior management — to better understand virtual tours’ impact on commercial real estate.
The survey’s key findings suggest:
- Widespread perception of value: Nearly all (91%) of real estate professionals believe virtual tours provide value, whether they have already implemented the tech or not.
- Marketing impact driving adoption: Enhanced marketing efficacy is the top motivation driving adoption, as mentioned by 62% of those who’ve implemented the technology. Other leading motivations include improved prospect viewing experiences (55%), lead generation (39%), and prospect filtering (29%).
- Significant real-world benefits: Along with boosting revenue, adopters say virtual tours enhance brand perception (95%), prospect viewing experiences (92%), prospect qualification (85%), employee training (82%), and qualified prospect volume (92%).
“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 visualization 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.”
To download the full report — or to learn more about compatible technologies like AR — go to here.
“Professionals in commercial real estate are actively looking for every advantage, and visualization 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.”
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