This blog was originally published in October 2018 and updated in March 2019.
In our first ever DNA of #CRE Marketer Report, most respondents said they were using drone videos and social media to promote listings, and blogging to promote their own firms. These tactics were much less common in the commercial real estate industry just a few years ago, so it’s clear that CRE marketing trends change fast.
This finding made us wonder: what will be the CRE marketing trends of the future? We think 3D tours and VR property visits will be best practices by the year 2020.
In the next few years, potential buyers, investors, and tenants won’t even think about stepping foot in a space before taking a 3D tour of it. A full 360-degree view of a property will be just as important for making a decision as an up close and personal one.
We also expect 3D property tours to be an industry best practice for brokerages of all sizes. One company we know is leading the way for 3D property models is Matterport, which recently hit the milestone of more than 1 million models of real-world environments. Chris Bell, Matterport’s new Chief Marketing Officer, predicts that in “five years or less, 3D experiences will be the norm.”
According to a Goldman Sachs report, virtual and augmented reality will be a $2.6 billion market for real estate by 2025. But at the rate new companies are flowing into the industry, we predict VR and AR tools will be one of the biggest CRE marketing trends as soon as 2020.
VR takes 3D tours a step further, letting buyers or tenants “explore” a space as if they’re actually there in person, but without actually having to take a trip to set foot in the building. So, with VR, both brokers and buyers can be more flexible with who they work with and where they deal in properties.That’s why industry insiders predict an uptick in international dealing.
Don’t worry about disintermediation. Even with new tech tools designed to make your job easier and more effective, you’ll always be an important part of the transaction. No matter how digitally-focused CRE marketing trends become, relationships have always been the most important factor for winning and closing business, and we don’t expect that to change anytime soon.
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