Have you ever wondered if 3D virtual tours are an effective strategy for your property management business? 3D virtual tours have certainly gained popularity in rental property management, including single-family properties. In 2020 Redfin reported that views of 3D virtual tours were up by 303%. When looking for a home, about 31.5 percent of respondents stated they went on more virtual tours.
While that was in the midst of the pandemic, post-pandemic, online rental tours keep gaining currency. It has become an essential part of marketing efforts for rental property managers, especially single-family rentals (SFRs). Are you still wondering if online rental tours are worth it, especially as effective marketing for single-family rentals? We’ll show you six reasons 3D virtual tours work today.
Do Landlords Need a Virtual Tour Option?
With renters always online, it’s more important than ever for property managers to use 3D virtual tours. Online rental tours have become the go-to for property managers who seek to reduce days on the market for their single-family rental investments. Virtual tour technology helps rent your property faster by allowing interested renters to see your space without having to schedule a physical visit or leave their homes.
Currently, there’s a high tendency for prospective clients to check listings online first. According to the National Association of Realtors (NAR), 51% of home seekers found their homes on the internet. More so, the NAR discovered that Millennials account for the most significant demographic buying or renting online. More than ever, marketing to Millennials is crucial as they account for the highest demography of potential clients.
This means it’s imperative for property managers, especially SFR investors, to prioritize 3D virtual tours of their listed properties because it’s a medium where their marketing efforts can be most effective.
Why Do Renters Want Interactive Content?
Without a doubt, interactive content helps your listings reach a wider audience. If you want your properties to stand out, you must ensure your virtual tour is interactive and engaging. Renters want unique content that shows them what they can’t see in pictures. They want to be able to zoom in and out, pan around, and move through space as they please. Additionally, they want to be able to click on things that interest them and learn more about them.
Since 3D virtual tours create a sense of intimacy, especially with technologies such as Zillow 3D, online rental tours can get more interactive. This interactivity can make a difference. A recent State of Inbound report listed interactive content as one of the priorities for marketing. Overall, interactive 3D virtual tours are a valuable addition to the rental property business, as they can help to attract more potential renters and streamline the rental process.
Online Tours Are Multipurpose
3D virtual tours can be a worthwhile venture for your property management, especially as an SFR investor, thanks to their multipurpose use.
Not only are 3D virtual tours a fantastic method to showcase your home to potential tenants, but they can also be used as a teaching tool to explain the advantages of your rental property. They can show you how to operate various features and equipment. Additionally, by addressing the needs of prospective clients, they can help determine needed repairs or upgrades and identify any safety concerns. Ultimately, online rental tours will produce convenience and progress for property managers.
You Save Time
3D virtual tours are an excellent way for property managers to save time and make their job easier. A 3D virtual tour allows you to see the property from an entirely new perspective, which can help you identify problems you may not have noticed before. You’ll also be able to tell if any issues need to be addressed through online rental tours.
The ease of using technology like virtual rental tours has become the subject of discussion among tech and real estate enthusiasts, as you can see from this tweet reveling in the exciting tech advances in the real estate business.
As property managers with a busy schedule, adopting 3D virtual tours creates a satisfactory degree of convenience for you.
You Save Money
3D virtual tours are cost-effective because they allow property managers to provide clients with a high-quality, immersive experience without taking time out of their day for a physical.
They can also be used as marketing tools for properties being marketed for sale or lease. The virtual tour is recorded, edited, and uploaded to multiple sites like YouTube or Facebook, where potential buyers and tenants can view it at leisure. Of course, 82% of marketers say they repurpose content across social media channels, according to a 2021 survey by HubSpot.
Lead Conversion And ROI
Without a doubt, lead conversion, after lead generation, is crucial to the progress of property management. By adopting 3D virtual tours, property managers stand an excellent chance of converting leads and consequently increasing their ROI to boost business growth. Since online rental tours provide a more immersive and interactive experience with potential clients, it creates a stronger connection with them and boosts the chances of lead conversion.
Above all, virtual rental tours are a great way to get prospects excited about your properties. Moreover, it’s a way to show them what they’d miss out on if they failed to apply quickly. With online rental tours, you can create a unique way of projecting your property management brand and generating ample ROI.
Are Virtual Tours Beneficial?
3D virtual tours are a fantastic medium that can help increase your marketing efficiency. They make it easy for prospective clients to see the property from their comfort zone, and, at the same time, they allow you to highlight the best features of your property without having to be there physically. Ultimately, you can increase lead conversion and ROI by incorporating 3D virtual tours into your rental marketing strategy. You can get started with an ROI study to familiarize yourself with the beautiful results of this technology.
Meet the Author – Kori Covrigaru
Kori Covrigaru is the co-founder and CEO of PlanOmatic. PlanOmatic provides quality photos, floor plans, and 3d to the single-family rental industry with speed and at scale, nationwide. With a national network of contractors and over 50 employees, Covrigaru has met the moment with the unique value proposition PlanOmatic offers by providing technology-enabled service to help their clients win.