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Retired buyers can be famously vigilant about off-the-plan purchases, but new technology has been winning over this shrewd demographic.
As all experienced agents know, selling property off-the-plan can be challenging. Without a bricks-and-mortar home to look at, buyers can be reluctant to sink their hard-earned cash into a new-build home.
But according to Michael Shaw, founder of Australian proptech firm EnvisionVR, virtual reality platforms have the potential to change this.
“EnvisionVR allows viewers to be immersed in future spaces on mobiles phones, tablets, VR headsets and the web,” Mr Shaw stated.
“Our virtual property experiences are so real that the view from each window is the same as what users will see once they step into their new property.”
New technology may be popularly stereotyped as the domain of the young, but one of the demographics that has embraced virtual reality tours the most enthusiastically are buyers over 60.
Alex Sicari, founding director of Mathieson Property, recently used EnvisionVR to sell off-the-plan properties in The Ace Residences Bowral to retired buyers seeking to downsize.
Mr Sicari knew from the start that one of his greatest challenges would be to communicate the final product to a highly discerning over 60s audience who were sceptical of buying high-end luxury homes off-the-plan.
Whether through onsite viewings or iPad presentations, however, virtual reality tools made a lasting impression.
“With EnvisionVR, our team could lead buyers on an immersive journey,” said Mr Sicari. “Exploring every room and dissecting every detail instilled confidence to buy off the plan.”
With the help of EnvisionVR, prospective buyers could wander through luxurious single-storey homes complete with marble benchtops, vaulted ceilings, herringbone floors, and an abundance of windows offering views to the treetops beyond.
“Buyers were impressed with the product and the design and just felt very comfortable that what they had acquired off the plan was going to translate into the real product they were buying,” said Mr Sicari.
Ray White Bowral sales agent Jonny Tighe seconded Mr Sicari’s sentiment, recalling that “customer reaction was absolutely incredible”.
Seeing the virtual walkthroughs onsite and via iPads and smart TVs gave customers “peace of mind, comfort on what it is going to look like, and a much better feel when they are buying off the plan”.
As EnvisionVR continues to expand its services to a wider range of operators, the proptech hopes that its virtual reality capabilities could be a crucial missing link in the conversation between agents and buyers.
“My goal is to make virtual reality fast, affordable and accessible,” concluded Mr Shaw. “Off-the-plan developments stand the most to gain.”
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