Thread: Has anyone used 360-degree virtual tours?

Hi, I just started a business that provides very professional 360-degree virtual tours for realtors. HOWEVER, I am surprised at the lack of response I am getting. I thought realtors would be flocking to my doors! Most of them say they are not interested or they cost too much money. I think they are an invaluable tool for this marketing age. Every home buyer I have spoken with LOVES virtual tours and would like to see more and there are so many benefits to having a high-quality virtual tour. (By the way, I'm not trying to drum up business on this forum - since I can't anyway unless you live near me - I just want some insight!)

So, I would love a little insight from some realtors as to why I might be getting such a lack of response.

Have your clients asked you about virtual tours?
Is it the "new technology" that is scaring the realtors away?
Am I charging too much? How much do you think I should be charging?
Are the realtors not aware of how much internet research today's home buyer's are doing?

I have to mention that the kind of virtual tours I create are the TRUE 360-degree virtual tours. You can look in any direction you want - not just panning left and right or a series of still photos. You can see them here my site

I would LOVE to hear anyone's response or anyone's experience. And I would love to know what you think of my sample tours!

Thanks!

I think 360 degree virtual tours are great. But I'd only use it for luxury homes where I can cover my expenses from the sale.

As technology minded as I am, I have yet to order a virtual tour for my clients. We have them offered for around $60.00 but I'm not sure of the quality of theirs vs. yours.

However, my average sale price is about $250,000. Those homes sell somewhat quickly. No need to provide a virtual tour, especially since two of my web sites offer photo slide shows which I do provide for all listings.

Something I and my clients have mentioned about virtual tours is the distortion we've noticed in any we've seen. I personally walked into a home that I fell in love with over the Internet watching the virtual tour. Seeing it in real life was shocking. It was a dump & much smaller than it appeared on the tour. I've heard other buyers mention similar things so I warn my sellers about this. It's terrible to have a buyer come into a house with expectations that are then shattered. If they didn't have those pre-existing expectations they might have actually liked the place.

I have a high end listing ($868,000) & those sellers agreed with me in advance about not wanting a virtual tour. They were happy with my slide show on my one site & my other site which offers as many photos as I want to use.

So for the "average" listings I just don't think they're worth it. If I had a high end seller that really wanted one then I would order it. But it wouldn't be at my recommendation.

Originally Posted by 360works

Is it the "new technology" that is scaring the realtors away?

You need to niche market your product or offer creative financing. While big money can be made selling real estate, only a small percentage of agents are making good, consistent cash flow. Since agents have to invest their own money up front for any marketing, most agents are afraid to step outside the box of traditional print media advertising.

So, you need to either go after the agents that are already earning steady cash flow or think about getting payment after they sell that home (regardless if it was an internet sale or not). If you use the latter method, make sure that you independantly track the sale of any listings and you consult with an attorney on the proper wording for the contract.

Am I charging too much? How much do you think I should be charging?

Your pricing should be driven by your market, not other markets across the country. Talk to local agents and ask how much they would be willing to invest in virtual tours.

Are the realtors not aware of how much internet research today's home buyer's are doing?

Some agents are quick to embrace technology, but most are gun shy. The best example that I can give you of this is the millions of real estate agents who paid way too much money to a local web designer for a new web site only to find that it brings in zero business. They had no idea about web marketing and SEO, so now they are turned off by anything internet except Realtor.com.

I know that 9 out of 10 agents freak out when they hear my prices, but most of those are the ones that were burned by a web designer hinting about tons of business once their web site was built. I focus on the 1 out of 10 - you should too.

I agree that virtual tours are a valuable tool. I have utilized them several times to screen out potential new homes we have purchased in the past.

Virtual tours are great. I do mine myself since 1999-2000.
Now that I'm with Coldwell banker, I get them for free so no need to do them anymore. But, It is a great tool even if it is getting old since the apparition of the movies tours...
I highly recommend these kind of tools for your website...

When I was an active agent, I used virtual tours, but at that time our local MLS only allowed 6 property photos. Now they allow 10. I will say too that most of my buyers would want to see a property based on the photos alone so I felt the virtual tours were a way to appease the seller more than impress the buyer.

I'm assuming you have photographers that go out and take the photos for the virtual tour?

Wendy

I feel virtual tours are good if the building is still under construction and the buyers want to have a feel of how their property would look like. But if the property is already ready it is better that they have a look at it themselves.