How this property company is using VR to sell property

Updated on 6 March 2017

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How this property company is using VR to sell propertyIMAGE COURTESY FIELDSPACE PROPERTY

The Fieldspace Viewer that works with your smartphone.

Virtual reality (VR) users are expected to reach 90 million this year.

Not only that but, according to Statista, the number of active VR users is forecast to reach 171 million by 2018.

This is exciting news for tech-savvy marketers.

As it represents an opportunity for them to reach a growing number of potential customers in a way that truly engages them.

One local company has spotted the potential and has jumped head-first into the world of VR.

Fieldspace Property Group, a real estate company that specialises in commercial, industrial and retail property, recently launched the Fieldspace Viewer. The device allows customers to virtually view spaces such as apartments, warehouses and office spaces, using Goggle Box Virtual Reality technology.

The device is made up of folded cardboard with embedded lenses, Google-designed viewer uses almost any Android phone or iPhone, which is placed in the device to deliver a virtual experience. This gives potential property buyers and tenants the ability to experience a virtual tour of the premises without commuting to the actual building.

Virtually international – the global perspective
While gaming continues to drive the industry globally, VR is being used in industries from military to fashion, from providing medical and dental students a safe and controlled environment to practice surgeries and procedures, to helping architects model their designs.

Real estate companies such as Sotheby International and Sage Realty Corp in New York have in past two year began experimenting with VR.

This is common practice in the residential market overseas, however the South African commercial property market has not yet capitalised on this functionality until today, Fieldspace said in a media statement.

“We constantly strive to improve our offering and give potential tenants everything they need to assist them in the decision-making process. We understand that it’s hard to visualise your perfect space when looking at an empty shell, and we want to assist with that process as much as possible” said Scott Field, CEO of Fieldspace Property Group.

Here is a quick look into Fieldspace’s VR experience and find out the benefits of the tech for both the seller and clients. 

An inside view of the Halfway Gardens office park in Midrand one of Fieldspace’s properties. The property features open plan spaces, outside smoking area and picnic patio, a canteen space as well as an entertainment area. Targeting corporate and business executives looking for high-end office space, Fieldspace can now show what is in reality an empty shell as if it was a fully-finished building.

A view of the property’s work stations, pause area as well as meeting rooms. VR allows potential clients to see what the space would look like fully furnished, sometimes even before the property is built. This is expected to help solve one of the most difficult tasks for a broker, which is convincing a potential client that the property will meet their unique requirements. For developers, it also means that the potential for securing sales while the property is still being developed is that much higher.

A view of the office space from the pause area. VR experience puts the customer in the space and they are able to get a 360 degree view of the property. They are able to see the layout of the building, how the floor-plan will work out with all the furnishings in it as well as the available space without having to physically be there.

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