Virtual reality: 2018’s must-have technology for real estate agents?

If you haven’t used virtual reality technology in your real estate business yet, 2018 may be the year to check out this popular technology.

According to a new survey from Coldwell Banker Real Estate LLC, 77 percent of potential homebuyers would like to take a virtual reality tour of a home before visiting in person. That compares to 84 percent of respondents who want to see video tours. Additionally, 68 percent of consumers said they would “love” to use virtual reality to visualize how they could organize their current furniture into a for-sale property they are interested in.

Nearly two-thirds (62 percent) of respondents said they would be more likely to use an agent who provided virtual reality house tours for them to view on their phones or computers over agents who did not offer this feature.

It’s not just virtual reality that your clients are interested in. Increasingly present smart home products continue to grow in popularity. Thirty-two percent of consumers in this survey said they own smart home products in their houses, an increase of 8 percent since last year. For those looking to sell their homes, 42 percent said their real estate agent should help them promote their smart home products when marketing and listing their homes. Consumers are most interested in a smart thermostat (77 percent), a smart fire detector (75 percent), a smart carbon monoxide detector (70 percent), a smart camera (66 percent), a smart lock (63 percent) and a smart lighting system.

“It’s crucial that the real estate industry stays on the cutting edge of technology. From virtual reality to smart home tech, consumers are now interacting with these technologies in different capacities and expect the same when working with a real estate professional,” said David Marine, senior vice president of marketing of Coldwell Banker Real Estate LLC.