With the market recovering after the GFC, new developments are becoming more popular. They offer the latest and greatest in comfort, technological advances, and eco-friendly design. With many of these developments targeting young professionals as their key demographic, it’s no wonder that companies are looking at ways to innovate the buying experience.
Showrooms are expensive to build and furnish, especially when there are multiple floor plans and options planned for a site. Additionally, a showroom is only open during business hours, and can only be accessed by local buyers. Virtual reality technology is slated to garner a 2.5 billion dollar slice of the market in the real estate sector alone by 2025, and the opportunities for development companies are waiting to be capitalized upon. With native technology users making up 34% of the buyers in 2017, including cutting edge technology in the home buying experience is only logical.
One company has seen their sales conversion jump from 20% to 80% when they offered virtual reality walkthroughs to first time buyers. Troy Cavallaro of Allaro Homes recently stated “…It can eliminate all the fear and doubt from people who haven’t had a custom build before. They feel a lot more confident about what they’re going to get and can have a meaningful input of what they’d like to see at every stage.”
Schedule a consultation today, and see how we can help you capitalize on this trend.