Virtual Tour
A virtual tour is a digital walkthrough of a property, using interactive media like panoramic photos, videos, or 3D models, allowing remote viewing and exploration by potential buyers or renters.
Key Takeaways
- Virtual tours are digital presentations of properties, allowing remote exploration through images, videos, or 3D models.
- They offer benefits like wider reach, significant time savings, and better pre-screening of potential tenants or buyers.
- Common types include 360-degree photo tours, video walkthroughs, and advanced 3D model tours.
- Basic virtual tours can be created affordably using a smartphone and simple editing tools, making them accessible for all investors.
- Implementing virtual tours can lead to faster rentals or sales and reduce vacancy periods for investment properties.
What is a Virtual Tour?
A virtual tour is a digital presentation of a property that allows potential buyers or renters to explore it remotely. Instead of physically visiting the location, people can navigate through a series of panoramic images, videos, or 3D models from their computer or mobile device. This technology provides an immersive experience, giving viewers a comprehensive understanding of the property's layout, features, and overall feel, much like an in-person visit.
Types of Virtual Tours
- 360-Degree Photo Tours: These are created by stitching together multiple photos to form a seamless, interactive panoramic view of each room. Viewers can click and drag to look around.
- Video Walkthroughs: A video recording that guides viewers through the property, often with narration. These are linear and less interactive but can highlight specific features.
- 3D Model Tours (Matterport-style): These advanced tours create a digital twin of the property, allowing viewers to move freely through rooms, see a 'dollhouse' view, and even take measurements. They offer the most immersive experience.
How Virtual Tours Benefit Real Estate Investors
For real estate investors, virtual tours offer significant advantages, especially when dealing with rental properties or out-of-state investments. They streamline the process of finding tenants or buyers and can reduce the time and effort spent on showings.
- Wider Reach: Attracts a larger pool of potential tenants or buyers, including those from out of town or busy professionals who can't easily schedule in-person visits.
- Time Savings: Reduces the need for multiple physical showings, saving investors or property managers valuable time and travel costs.
- Pre-Screening: Helps serious prospects self-qualify, as they can thoroughly inspect the property online, leading to more serious inquiries and fewer wasted showings.
- Competitive Edge: Properties with high-quality virtual tours often stand out in the market, attracting more attention and potentially leading to faster sales or rentals.
Creating a Basic Virtual Tour: Step-by-Step
You don't need expensive equipment to create a decent virtual tour. Here’s how to make a simple video walkthrough for your rental property:
- Prepare the Property: Declutter, clean thoroughly, open blinds for natural light, and turn on all lights. Make sure the property looks its best.
- Use Your Smartphone: Most modern smartphones have excellent video capabilities. Hold your phone steady, ideally with a gimbal or tripod, for smooth footage.
- Record Each Room: Start at the entrance and move logically through the property. Pan slowly and steadily from left to right in each room, showing all corners. Record short clips for each area.
- Edit and Upload: Use a simple video editing app (many free options are available) to combine clips, add background music (optional), and trim unnecessary parts. Upload the final video to platforms like YouTube or Vimeo, then embed or link it in your property listing.
Real-World Example
Imagine you own a rental property in a popular vacation destination, listed for $2,000 per month. Many potential renters are from out of state and cannot easily visit. By investing a small amount of time to create a high-quality virtual tour using your smartphone, you can showcase the property effectively.
- Before Virtual Tour: It took 3 weeks to find a tenant, with 15 in-person showings.
- After Virtual Tour: The property receives 50 online views of the tour. Within 1 week, you get 5 qualified applications, and you rent the property to a tenant who viewed it virtually, saving you 10 hours of showing time and reducing vacancy by 2 weeks.
Frequently Asked Questions
What equipment is needed to create a virtual tour?
For a basic virtual tour, a modern smartphone with good video capabilities is often sufficient. For more advanced 360-degree or 3D tours, you might consider a specialized 360-degree camera (like a Ricoh Theta or Insta360) or professional services that use equipment like Matterport cameras. Editing software can range from free apps on your phone to professional desktop programs.
Can virtual tours completely replace in-person property showings?
While virtual tours are excellent for initial screening and attracting remote prospects, they don't always fully replace in-person showings, especially for high-value properties or buyers who prefer to feel the space. However, they significantly reduce the number of physical showings needed by pre-qualifying interested parties, making the in-person visits more productive.
Are virtual tours expensive for real estate investors to create?
The cost varies widely. A basic video walkthrough using your smartphone can be virtually free, requiring only your time. Consumer-grade 360-degree cameras can cost a few hundred dollars. Professional 3D virtual tour services (like Matterport) can range from $200 to $500+ per property, depending on size and features. Consider the property's value and target audience when deciding on your budget.