Monday, May 16, 2016

How Virtual Reality is Changing Open House Sessions

Open house sessions may now be done virtually. Many real estate websites are now using virtual reality to help augment their many open house sessions. These 3-D tours have inspired other real estate groups to consider optimizing the use of augmented reality headsets. These headsets, built by such giants as Google, Apple, and Microsoft, can be used to provide potential clients real-time viewings of the property. The difference between these types of tours and what is currently available is that headsets give the illusion that the person is physically at the property. The headsets have been designed to shift the image in sequence with the movement of the head. Thus, unlike virtual tours did over a website – where movement is directed by a mouse and images are scanned photographs placed in a seamless projection – augmented reality tours would give clients an honest overview of how the property really looks like.

Image source: YouTube.com

These are estimations and augmented reality has yet to be used for mainstream open house sessions. Still, the presence of virtual reality tours has already shifted the way real estate properties are being marketed. Nearly half of national listings are done online, with more being placed every day. Potential clients are more willing to attend open house sessions on projects they’ve already seen photos of online. Current data supports this with the additional conclusion that virtual reality tours further increases the potential of closing a sale.

This is based on human psychology. Clients simply want what is the most convenient for them while still giving them the same amount of quality. Virtual reality – and eventually augmented reality – helps achieve this. Real estate professional should take this into heavy consideration as it will affect their overall career success.

 Image source: buzzbuzzhomes.com

Jon Bourbeau is the founder and CEO of Pacer Partners, a boutique real estate management firm handling all aspects of property investment. For more information, visit this Facebook page.

Wednesday, May 4, 2016

Gamechangers That Will Redefine The Asset Management Industry

Asset management is looking to expand significantly, based on research by PricewaterhouseCoopers. According to the study, global assets under management will rise to $101.7 trillion by 2020. 

The bulk of the asset management industry remains concentrated in the US and Europe, and while it stands to stay that way for the foreseeable future, the industry is fast reaching South America, Asia, and Africa. The increasing population of high net worth individuals in these regions, along with the expansion and emergence of pension and sovereign wealth funds, has been improving investments. 

Image source: processindustryforum.com

Asset management is looking to move to the center stage after being in the shadow of the banking and insurance industries. But the trend shows that there is a rapid growth and rising popularity for alternative investments.

There is also a prevailing change in the investor’s mindset. Traditional investments such as stocks and bonds are no longer the optimal options, because they do not generate as much wealth to reach the desired investment objectives. 

Image source: internationalsustainabilityalliance.org

Technology is also helping the elevation of asset management, which has usually operated within a relatively low technological infrastructure. In the next half-decade, technology will become critical in cementing client relationships, information gathering, operational efficiency, and financial and tax reporting. 

Jon Bourbeau is the founder of Pacer Partners, a boutique real estate and asset management firm with offices in New York City and Miami. Learn more about asset management by visiting this Facebook page.