Renting vacant units quickly and with the least amount of effort is the goal of every landlord or property manager. 3D showings can be a great way to increase your online presence to reach more potential tenants, reduce face-to-face showings to uninterested or unqualified tenants, and have a higher likelihood of getting the unit rented faster.
While 3D technology is especially fitting in our current climate where social distancing and safe leasing is a major focus for investors, it's likely virtual showings will stick around long after the coronavirus disappears. Learn how virtual 3D showings work, how 3D tours can help you reach more tenants, and how to use this technology as an investor.
What is a 3D showing?
A 3D showing is a virtual tour providing prospective tenants or buyers an online showing allowing them to see each room as if they were there. Virtual tours differ from listing videos, where the landlord or property manager does their own walk-through of the home, pointing out certain features while recording video on a recording device.
In a 3D virtual showing, the interested party is able to move, pan, zoom, and walk through the rooms on their own by clicking their mouse. They can see different vantage points of each room, click on features to zoom in, and move around the unit on their own. While this may seem like a nuance, LCP360, a virtual tour provider, states that virtual tours increase your ranking on Google (NASDAQ: GOOG) significantly and get you 87% more views.
Why 3D showings are here to stay
The recent pandemic has shown just how valuable remote or no-contact showings can be. Your future tenant can simply go online and tour the apartment, townhome, or house in the safety of their current residence. That means less risk for you and them. Worried it wont "sell itself" if you're not there to highlight features? Think again. Matterport, a 3D capture platform, found that 95% of people are more likely to call about properties with 3D tours. A full 55% are even willing to sign a contract, sight unseen.
Regardless of the pandemic, this 3D technology is quickly becoming the preferred method of viewing properties. It appeals to the younger generations; particularly Gen Z and millenials find 3D showings extremely important. You have the potential to hook renters who are looking to relocate to your area and may be too far away to do in-person tours but would like to ensure they have a place to move into when they transition.
With 3D showings you only have to stage the home once; you don't have to spend an entire day at the unit for an open house, you have the potential to reach more tenants, and you reduce the number of face-to-face showings you have to give, especially to tenants who ultimately aren't interested.
How can you create a 3D showing?
While the technology may appear complex, it's a simple enough process that most landlords or property managers can easily complete it on their own using a hosting platform to compile the images. Platforms like FeelEstate, EyeSpy360, Concept3D, and Immoviewer are all popular choices for creating a 3D showing. They have various packages with pay-by-tour, monthly, or annual subscriptions, which typically range from $20 to $40 per tour to several hundred dollars for a more extensive or unlimited package. If hiring things out is more your style, many professional real estate photographers are able to do virtual tours for clients as well.
In order to offer 3D showings or tours, you will need a hosting platform to assemble the images into a user-friendly finished product and a website to display your tour on. It's important to note that a 3D showing should be in addition to professional photographs of the property to further entice the potential tenant. You will want to make any updates or repairs prior to taking the images and stage the rental just like for an in-person tour.
3D tours are still a newer technology, but they're here to stay. They can help you optimize your listing for search engines and do the selling for you in a fraction of the time.