How 3D Visualization technology transforming Real estate SMBs?

Authored by Prakhar Goyal, Head of Product, Foyr

Times are changing, and so is the real estate industry. Technology is fast becoming an essential

element that is not just fuelling invention and innovation but is also presenting multiple advantages that are aiding in transforming the sector. Among the various players in this industry, the biggest adopters of technology have been the Small and Medium Business (SMBs). It may come across as a surprise to many, however, when you look at the reasons, you understand how SMBs have been able to create an appealing buying experience for their clients and focus on value created for prospective buyers through technology.

Trends like the Government sanctioned RERA, Real Estate Regulatory Authority in each state and union territory, safeguarding the interest of property buyers, and the real estate stakeholders, are surely going a long way in adding intense competition from SMB’s in the market. With the whole process being regulated, real estate purchase is not only going to be way simpler but will also have better accountability and transparency.

Affordable technologies are making SMB’s a game changer in the real estate sector. They are able to add an extra touch of the WOW-factor to their showcase which will not only take customers experience to another level but will also upgrade their real estate listings. One such leader in technology that has gained popularity and has been huge in terms of adoption with small and medium businesses is 3D visualization. This technology is not only the most intuitive way of showcasing a project to a client but is also beneficial for those SMBs who want to create a brand.

It is a known fact that a majority of SMBs face a myriad of issues when it comes to attracting and retaining clients, maintaining sales and marketing, creating transparency, reducing operational cost, crafting innovative ideas & products and increasing business growth. 3D visualization has the potential of helping the builder overcome these issues.

With a potential to create high definition photo-realistic immersive experiences, as well as create viable touch points with potential customers by giving them an accurate view of the final product before construction and bringing to life some tailor-made thoughts through its renderings; 3D visualization technology is transforming real estate SMBs. A compelling combination of stunning visualizations on the go, state-of-the-art visual capture tools, and availability of decision making data at your fingertips is making 3D visualization a tool you can’t ignore.

Here’s why:

• Levelled Platform:

It’s creating a level playing field for real estate SMBs the same way Amazon has created a level playing for all sellers.  Those serious about their business, don’t have to wander far in order to showcase their projects to customers. 3D visualizations give them the power to avail the luxury of easily showcasing even the most complex of projects to clients worldwide. With a huge majority of home buyers now using the Web when it comes to searching for their next buying project, the flexibility of 3D visualization gives them a comprehensive and integrated translation of their idea into reality;  just what they need to mark their presence with a  prospective client.

• Transparency:

Companies who don’t have a huge marketing budget can easily use 3D visualization as a mode to explain their projects to prospective buyers.  Information on planning, real property formation, transparently rendered structures and other miniscule building details which is otherwise relevant but overlooked due to barriers is made transparent through 3D visualization. People always want to be sure of what they buy; else the money might just go down the drain. Techniques like Stylistic rendering techniques and edge-filtering and edge- rendering, improve the visual appearance of a complex property giving buyers the exact picture of what they are buying into. An understanding of how space will feel and function before it’s built, not only leads to transparency but also better outcomes. Even if the SMB is not associated with a big brand name, they can build their own brand recognition through this technology.

• Competent Sales:

Finding a competent sales force can be quite a herculean challenge for SMBs; which is why 3D visualization is extremely competent in driving the productivity of their projects without having an elaborate team aboard.  A sale is no longer dependent on footfalls on the project site. You can showcase a 3D visual of your project to the customer (No matter where they are) through any digital device. Just highlight the key differentiators of your project that you know will accelerate a deal closure.

SMBs who don’t have a huge sales force can literally mobilize their sales during the weekdays as well through 3D visualization. Creatives can competently be uploaded and viewed on a website, or social networking sites through a device, which will enable the client to view almost anything virtually in the comfort of their home or while they are on the go.

• Cost Effective:

Once you employ 3D visualization to showcase your projects, the absence of a humungous sales force and other workforce drives down the cost immediately. Apart from that, other costs such as creating multiple model flats and multiple renderings are taken care of as well. VR further enables personalization and customization of designs for the prospective buyers without costing an extra dime. This means that prospective customers can not only get their own elements in place but also chose from a variety of colour gradients, high-quality details, and many other new possibilities that determine their personal style without it being a burden on the SMB.

• Technological tools:

An interesting tool like Storyteller (a tool by Foyr) provides an affordable and efficient end to end visual booking platform to designers, realtors as well as companies so that SMBs don’t have to invest in big tools. All one has to do is share the space details by sending across their marketing material such as a brochure, project plan, and pictures. The client can then select from the app’s multiple offerings such as 3D apartment selector, HQ walkthrough, chatbot, Sales center player. Within days, the project will come to live and will be available online on mobile, web, tablets and can also installed at the client's sales center. This technology assists with the problem of limiting sales to just one city; it will help SMBs sell Nationwide, Worldwide.

Till date, the SME’s would always be blamed for being inefficient, subjective and difficult to deal with. But now the wonder of technology has enabled them to keep up with client expectations and imaginations. Rather than using the age-old static texts and images, a 3-dimensional virtual tour will attract people’s interests as well as create an extraordinary panoramic real-world feel. Right from providing a cost-effective immersive experience to creating engagement in a short period of time 3d Visualization technology is transforming Real estate SMB in a positive way.