Using Virtual Reality to Drive Innovation in the Property Industry
Mostly associated with gaming, virtual reality and 360 is slowly emerging as a powerful means of engagement explored by various brands. As a tool, virtual reality along with 360 videos can enable all kinds of different experiences, having been adopted by businesses in the commerce, education and training, to entertainment industries.
The property Industry has been one of the industries driving the adopting virtual reality and 360 videos, reinventing the way agents and brokers engage with their consumers.
The real estate industry has seen little innovation and development over the years. While we had seen the digital landscape change and evolve, the property viewing process has very much remained the same as when the industry started back in the early 1900s, by:
- view images with property descriptions
- contact an agent
- book viewing
The challenge this presents is that sometimes the reality and the images of the space do not match up, limited in its capacity to convey the true property characteristics accurately. Additionally, viewers have become even more time conscious. With viewers wanting to limit time spent, and wasted on, viewing properties that ultimately do not meet their needs. A barrier the industry has not been able to overcome.
Confronted by all of this our client sought to innovate a new and engaging way to view property. As such, we were presented with the FieldSpace Challenge.
They came to us with a mission to innovate the way in which they could show their properties on their website while also making it an easier and more flexible process for their broker clients.
Key drivers influencing their decision included:
- Time constrained brokers and their clients – many looking for an easier more flexible way they could view various properties without having to take time away from their day to go and see properties. They also wanted to cut down on potential time wasted viewing properties that would not meet their client’s needs.
- Images displayed on the website not sufficiently depicting the true features, potential and the feel of the properties listed.
- Wanting to adopt further strategies that would align to their overall goal in becoming a more sustainable-focused and driven business
We knew that whichever solution we presented, it had to meet the criteria mentioned above, without breaking the bank. In the end, we pitched and implemented prop-tech solutions to enhance the viewing process through VR, and 360 video.
Together with the prop-tech provider, we collaborated to make VR and 360 a reality. NIMBLER designed and sourced customs cardboard VR headsets and prepared 360 videos showcasing their available properties for the website. Now those seeking to enquire about commercial rental space can view and tour properties from the comfort of their armchair, wherever they may be.
Click the image below to see 360 Viewing in action.
Mockups of VR Goggle designs:
So, if you’re looking for a partner for innovation in the marketing and business development field, speak to NIMBLER Innovation.