Technology connect between builders & buyers
Virtual reality, 3D rendering and architectural visualization are proving to be the game changers for the realty sector. These technologies offer a three-dimensional, computer generated environment for people to explore and interact thereby boosting the credibility & salability of the project.
Architectural Computer Graphics (CG) or 3D renderings play an important role throughout the design process. The pre visualization enables the architects to create a well formed design complete with structural details & materials etc. and can modify the visual as well as functional aspects of any development. Similarly the developers are also able to visualize what they are going to construct and their marketing teams can give inputs to architects at the design stage itself.
It also empowers the developers to take their product offering to the end customer/ channel partners with complete visualization of how finished spaces will look in terms of interiors, exteriors and landscape. Prospective buyers are able to live the experience of a not yet constructed property and understand its designs and living aspects before taking an informed buying decision.
The annual growth of 3D rendering services is expected to be around 26.7 percent by 2018. Going forward, introduction of RERA will make 3D visualization a necessity for developers for both internal as well as external communication.
Developers are looking at ways and means to engage the end customer/ channel partners and lead them towards making the decision using new age experiential marketing techniques and installation based experiences. These experiences help prospective buyers to understand the projects in collaborative multiuser environment and experience living in the property as well as identify concerns. Moreover, the buyers’ market today is internet and technology savvy. By making use of digital platforms to create authentic relationships with such buyers, developers strengthen their brand and have a greater chance of closing the deal.
Going through a multitude of projects and developers across segments can be confusing and intimidating for a real-estate buyer. Likewise, visiting the sales offices turns into getting flocked by the sales people bragging about the features of their property without even understanding their needs and goals. Experiential marketing is an important change of the sales model and its backbone lies in creating an intuitive technology driven atmosphere wherein a customer can get all the information that he desires in an interactive and engaging fashion. By allowing consumers to become active participants in a marketing initiative, marketers ensure not just faster sales closure, but a genuine long-lasting interest in the product.
Challenges & Future
The primary concern is the high cost of acquiring the necessary tools, software, expertise and manpower resources to execute virtual reality projects. Also, to keep abreast with the fast paced technology, getting trained manpower resources and training exposure is a challenge.
However, given the recent government policy announcements and reforms, the real-estate sector will get more professional and would need technology to perform better, faster and more efficiently. As of now, simple photorealistic architectural 3D views and walkthroughs are used in seclusion but the sector will soon move on to more innovative ways of showcasing their projects by using augmented reality and touch interactive 3D environments. For instance, Sparrow Interactive has been working on creating completely immersive Sales Hall Experiences for real-estate projects keeping in mind the target audience and their behavior. The very first of such experience center shall be ready for East India’s tallest residential tower in Kolkata within next two months.
Rashmi Kohli, Founder and Director – Sparrow Interactive Pvt. Ltd