Photo VR Market Opportunity for Ready-Now Spaces
If you are selling or leasing a property that has yet to be built or isn’t finished yet, your building is still considered a development project rather than an inhabitable property. For buildings of this caliber, the most suitable VR option is a a totally immersive experience that’s designed using computer-generated, rendered content that fills in the gaps in order to accurately portray what a space will look like when it is finished. However, with a ready-now property—a space where the construction is complete and the building is ready to be occupied—the cost of building a traditional VR experience is not always necessary. Thus, there’s a huge market opportunity for Photo VR when it comes to as-is spaces.
What is Photo VR and How photo VR can be leveraged through a 360-camera?
VR photography, or virtual reality photography, is a type of virtual reality that can be easily and affordably created by combining a series of panoramic photos that create a single, 360-degree image. By rotating the camera around a central axis, the succession of photos result in a spherical image that evokes an interactive feeling for viewers. VR photography can be created by using an omnidirectional camera or by taking multiple photos in a row on a standard digital camera. Once every angle of a space has been captured, you can then use computer software to generate the desired 360-degree effect of a virtual reality experience.
The Benefits of VR Photo
Photo VR has a much faster turnaround rate when it comes to the actual creation of a 360 VR tour and it is considerably less expensive than traditional VR. James Mackenzie, a tech lead at Goldman Sachs, states that the best camera you can use for Photo VR is the one you already have — and for most people, that’s your smartphone.
“Modern smartphones are already equipped with all everything they need to take VR panoramas — namely accelerometer, gyroscope and CCD. The only remaining question is what software to use.”
These tours are also just as effective at reducing travel time for brokers and landlords as other forms of VR. They’re still effective when it comes to creating a digital walkthrough that can be easily shared with diffuse decision makers that aren’t centrally located or close to the building at hand. The only question that remains is: which software system should you use to compile a Photo VR tour? At BlockVue, we believe that will change moving forward and we’re excited to be a part of that change.
By: Alexa Davis—Content Strategy @ BlockVue