Resource Investment: Traditional vs. Virtual
Virtual tours significantly reduce time and costs associated with property showings compared to traditional methods. Agents can save up to 70% on resources per property.
Showing time drops from ~7-11 hours to ~2-3 hours per property with virtual tours.
Costs decrease substantially, for example, from over £440 to ~£140 in the UK market.
Virtual Tour Impact & Adoption Insights
Virtual tours significantly influence agent practices and buyer decisions, leading to improved market performance and efficiency.
Agent Adoption & Preferences
UK listings show 22% virtual tour usage, with varied agent preferences for tour formats.
Buyer Preferences & Engagement
Buyers strongly favor listings with virtual tours, being 90% more likely to view them.
Sales & Efficiency Outcomes
Virtual tours drive key performance boosts like 87% more views and 31% faster closes.
Investment, Returns & Market Growth
The investment in virtual tour technology yields significant returns and aligns with a rapidly growing market. Initial costs can be as low as £500 per property or via monthly subscriptions ($50-$250+).
ROI can be substantial, with examples showing returns like 44:1 to over 100:1 within 6 months.
The virtual tour market is projected to grow from $8.89B in 2023 to $127.47B by 2032 (34.5% CAGR).
Strategic Imperative
Virtual tours offer competitive advantages like winning more listings (74% reported increase) as sellers increasingly prefer agents offering this technology (71%). Adopting virtual tours is crucial for operational efficiency, enhanced client satisfaction, and market differentiation. Low current adoption presents a significant opportunity for early movers.