The real estate landscape is evolving rapidly, and student housing is no exception. While traditional marketing methods still hold value, technology offers new, innovative ways to showcase properties. One technology the Point in Time team excels in is the use of 3D video flythroughs, which can significantly improve pre-leasing and leasing rates for student housing properties.
The Challenge of Marketing Student Housing
Off-campus student housing is a unique real estate niche. Universities usually have strict academic calendars, meaning there’s a limited window for students to find housing. Leasing teams are often under pressure to pre-lease units well before the academic year starts. Traditional marketing methods like brochures, 2D floor plans, and site visits may not be sufficient or efficient enough to meet these tight deadlines.
3D Video Flythroughs
3D video flythroughs offer a dynamic and immersive experience, allowing prospective students to virtually view or walk through a property at their own convenience. It is almost like having a 24/7 open house accessible from anywhere in the world. These videos showcase the layout, amenities, and even the surrounding neighborhood, providing a comprehensive view of the property.
While concrete data points specifically regarding 3D video flythroughs in student housing are still emerging, studies in the broader real estate market provide compelling insights:
- Generational Preference: Millennials and Gen Z prefer immersive listings when viewing potential properties.
- Reduced Time on Market: Properties advertised with 3D videos spend up to 31% less time on the market, according to Matterport.
- Increased Conversions: Listings that include virtual tours have a 57% higher average conversion rate, according to Reach by RentCafe.
Fostering Emotional Connection
3D video flythroughs enable prospective students to envision themselves living in the space, which is invaluable when it comes to making a leasing decision. They can virtually place their furniture, explore the communal areas, and even check out the views from the windows. This level of familiarity often translates into quicker decisions and a more streamlined leasing process.
Accessibility and Convenience
These videos can be easily shared via email, embedded in websites, or posted on social media, reaching a wider audience than traditional marketing methods. Prospective students can take the tour at their convenience, revisiting the space as many times as they’d like before making a decision.
In the fast-paced and competitive world of student housing, 3D video flythroughs offer an edge in marketing and leasing efforts. Not only do they provide a rich, interactive experience for prospective students, but they also deliver measurable benefits in terms of engagement, time on the market, and conversion rates. By adopting this innovative technology, companies can more effectively market their properties, satisfy the demands of the digital age, and ultimately drive better business outcomes.
Looking to create a 3D flythrough for your property or learn about other student housing marketing opportunities? Contact us today to get started.