The study conducted by Zillow in 2021 examines the impact of 3D technologies on purchasing behaviors in the real estate sector, specifically analyzing the use of virtual tours, interactive floor plans, and 3D renderings. Zillow, a leading platform in real estate, aimed to understand how these technologies influence the purchasing process, consumer behavior, and final decisions regarding the acquisition of real estate properties.
Growing Appeal of 3D Virtual Tours
3D virtual tours have seen a growing popularity, particularly since the pandemic, which accelerated the adoption of digital solutions in the real estate sector. The study shows that 71% of real estate buyers have utilized virtual tours to explore properties, with 52% stating that these technologies were essential to their purchasing decision. This confirms that 3D representations allow potential buyers to gain a better overview of properties, reducing the need for initial physical visits.
Time Savings and Increased Efficiency
The Zillow study indicates that the integration of 3D technologies in the real estate purchasing process reduces the time needed to search for a property. Through 3D tours, buyers can quickly assess multiple properties without physically traveling, which accelerates the filtering of listings that meet their expectations. 68% of buyers reported that virtual tours helped them more easily exclude properties that did not meet their needs, while 61% felt it allowed them to focus more quickly on specific listings.
Improvement
of Decision-Making
3D technologies provide a more realistic and detailed view of properties, which facilitates buyers’ decision-making. The study shows that 80% of users felt greater confidence in their property choice after exploring a property in 3D, compared to those who only viewed photos or videos. This increased confidence in the ability to evaluate a property remotely reduces the stress associated with real estate transactions, especially for purchases made from a distance or abroad.
Impact on Remote Transactions
One of the notable findings of the Zillow study is the influence of 3D technologies on remote transactions. In fact, 60% of international buyers or those living at a distance reported that 3D tours helped them finalize a purchase without having to visit the property in person. These technologies allow buyers to visualize every corner of the property and project themselves more easily, despite the geographical distance, significantly enhancing the remote buying experience.
Increase
in Customer Satisfaction
The study highlights an increase in satisfaction among real estate buyers using 3D technologies. With a more comprehensive and interactive visualization of properties, buyers are less surprised during the final physical visit, as 3D technologies provide a clear understanding of dimensions and layout. 58% of buyers who used virtual tours felt that the property they purchased matched their expectations better compared to those who only used static images or videos.
3D Technologies
and Off-Market Sales
The Zillow study notes that 3D technologies also play a crucial role in the sale of off-market properties, meaning even before they are built or completed. Real estate developers reported a 35% increase in sales of properties under construction after the introduction of 3D virtual tours on sales platforms. Buyers can visualize properties in progress, envision themselves in the future spaces, and purchase properties earlier, providing a strategic advantage for developers.
Better memorization
of visited properties.
The study also highlights that 3D technologies help users better remember the properties they have visited. Buyers who used 3D tours are twice as likely to recall details of a property after a virtual visit compared to those who only viewed photos. This enhanced memorization helps buyers more effectively compare available options and revisit specific properties with a clearer understanding of the details.
Effect on Property Valuation
The Zillow study also reveals that the integration of 3D technologies can help increase the perceived value of a property. Properties offered with interactive virtual tours or 3D models often generated more interest and received higher offers than those without. 55% of real estate agents reported that properties equipped with 3D technologies sold more quickly and often at a price above market value.
Conclusion
The Zillow study (2021) shows that 3D technologies have a significant impact on the real estate sector, facilitating the purchasing process, enhancing the user experience, and accelerating transactions. Virtual tours not only allow buyers to save time and reduce unnecessary physical visits but also increase customer satisfaction and promote remote and off-plan sales. As a result, 3D technologies are becoming an essential asset for real estate agents and developers looking to optimize their efficiency and competitiveness in an increasingly digital market.
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