Virtual Reality Home Tours Continue to Evolve
Whether you’re looking at property long-distance or purchasing a yet-to-be-built custom home or condo, virtual reality comes close to providing the see-it-in-person experience
In 2016, Gregg Lynn, a real estate agent with Sotheby’s International Realty in San Francisco, sent a link to a virtual reality tour of a massive loft condo to several agents.
“One agent shared the tour with a buyer in Seattle who was relocating to San Francisco,” Mr. Lynn said. “That buyer asked us to hold the loft for him so he could fly down and see it. He said as long as the reality was as good as the virtual reality, he would buy it.”
That investment in virtual reality, or VR, led to one of Mr. Lynn’s greatest success stories: The $7 million sale holds the record for the most-expensive loft sold in the city.
“VR is a great substitute for in-person showings,” Mr. Lynn said. “I have a $19 million penthouse listing on Russian Hill that’s had 17,000 online tours.”
More: More Info Equals Less Risk: Why Transparent Housing Markets Are Better Bets
Who Uses VR and How
Among the most popular newer uses is in new communities that are partially complete, where realistic renderings of a new phase of the community can be overlaid on drone videos or photos.
