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The list of top retail property owners has been published by Retail Traffic magazine for some time now. The list shows the number one retail owner to...
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Virtual reality tours sell—buyers like what they see in the virtual world and other uses
The benefits of virtual reality tours of prospective projects before the ground is even broken are now being used by home builders and condominium high rise developers across the board. Of course this technology has been around for some time at much higher cost than current cost. It has been used for commercial and high profile projects for years. But now, the cost has come down to where the home builders have started to use them rather extensively to sell units off plans before they even have a model for prospective buyers.
This concept has many benefits. An example is the ability to market the final units ahead of building them, thereby increasing the developer’s return on investment (ROI). Another is the ability to show the vision of the development to bankers and other financing entities which in turn increases your chances of obtaining financing and at an earlier time than without it. Can it possibly help in negotiating better terms? Another is the assistance that these virtual reality tours give a developer in obtaining entitlements from the local officials. Another is the help it can give the owner, architect & engineers in finding potential field conflicts before they become actual challenges in the field.
Susan Brady, senior editor of design for Professional Builder magazine has written an excellent article on this subject. Please note that this magazine is geared toward the home building professionals and therefore the article is written from that angle. The thing to remember is that this concept works for many other types of building projects. It makes your project come alive before it is even born!
You can read her article by clicking on this link.
For hotel & timeshare renovations please visit hospitality renovations. To refresh your hospitality image or FF&E visit hotel furniture. If you know about upcoming hospitality renovations or FF&E upgrades please visit referral fees. To see my other articles click here. Linkedin invitations gladly accepted from hospitality related executives, architects, and other professionals, if invited.
© Karl Tehrani all right reserved. For a copy of this article, please use the RSS Feed at top of this article.
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