We live in the future here in America. Recently though we’re starting to reach Sci-Fi levels of technological innovation. The real estate in particularly has taken a huge leap into the future. No longer will sellers have to be prepared to evacuate their house at a moment’s notice for a showing because of a growing service called virtual home tours. Expect that service to explode soon thanks to a new company called GeoCV. Soon just about anyone will be able to afford to create a virtual home tour, which allows buyers to experience the appeal of a location without ever having to waste their time actually visiting open houses.
It’s like having Google Street View for your apartment, and it will impress sellers by showing them you can set their properties on the fast track to selling. It saves an immense amount of time because buyers can view multiple properties in a single meeting or dozens of them from their phones, tablets, or computers. Even if fifteen different buyers want to view a property at the same time, they can--unlike in-person open houses, there’s no limit on how many people can view a virtual tour.
Though virtual tours will likely reduce showings, it reduces the amount of window-shoppers. Anyone who asks for an in-person tour afterward a virtual one is more likely to give a serious offer as they’ve already had a viewing. After all, they’ve probably already fallen in love with the property, and with a virtual tour, remote or international buyers will be easier to sell to since they can’t normally visit in person. A recent study even shows that 35% of homebuyers bid on a home before seeing it in person.
For just 10-30 cents per square foot, with a minimum of three hundred dollars per listing, GeoCV will create an HD 360° floor plan of any location. This is on average two to three times cheaper than what most companies charge for this service. GeoCV lowers the cost by using next-generation smartphones with 3D cameras instead of needlessly expensive proprietary technology. A thousand square feet can be photographed in an hour, and it only takes about two days for the floorplan and tour to be constructed.
Founded in 2011 by Anton Yakubenko, and Gleb Krivovyaz GeoCV continues to be on the cutting edge of technology as well, as they are developing full VR tours to be used with VR headsets. They are also looking to unveil a do-it-yourself app by December for brokers, and are backed by venture capital firms like Rothenberg Venture, and Emery Capital.
“We’re happy to announce that our 3D capturing solution now supports the Samsung Galaxy S8," said Yakubenko. “User-generated content creation tools are the longer-term future when everyone has a depth camera in their pocket and can easily view native 3D content in AR and VR. Apple has already invested in AR and depth cameras with the iPhone X, and we forsee mass adoption with the advent of Apple's ear-facing 3D sensor for the 2019 iPhone.”