Fact or fake: will immersive technologies replace in-person visits to commercial real estate?

Market analysis indicates that virtual experiences act as a complementary step in the sales funnel, without completely eliminating traditional visits. “For clients who will use the property for their own operations, an in-person visit is essential. People need to feel comfortable in the space, touch the walls, and notice details that do not fully appear in a virtual experience. For investors, however, a virtual visit—combined with a strong offer—can often be enough,” says Thiago Graciano, Partner at Ponto 360º, a company that creates 360º virtual tours for properties, Matterport 3D, VR headset experiences, among other solutions.

Even so, there are obstacles to a full replacement of the in-person model. “There is the insecurity that the image may not faithfully represent reality, since it can be manipulated. In addition, Brazilians have a culture of ‘touching the brick.’ For certain audiences, the in-person visit remains a key step,” he adds.

“By bringing virtual tours in a structured way to SPOT, we quickly saw their impact on the dynamics of the commercial real estate market. The technology helps those searching better understand the space before a physical visit and, at the same time, supports those listing the property in qualifying demand. The result is a faster process, with fewer unproductive visits and more efficient decisions throughout the entire journey,” explains Giancarlo Nicastro, CEO of SiiLA, the company behind SPOT across the main markets in Latin America.

Even without replacing the physical visit, the virtual tour plays a strategic role in the prospecting and qualification phase. “The main function of the virtual experience in real estate is to create scale and qualify the interested party, reducing unproductive visits to properties the client has already discarded virtually. The idea is that the in-person visit should only happen after the virtual visit,” Graciano comments.

The level of adoption of these technologies still varies depending on the asset and audience profile, but the trend is clear. “The use of these solutions is already mature in residential developments and is advancing in the high-end segment, while the broader market still faces barriers related to cost and to defining who should invest. In the medium term, immersive reality does not replace steps, but it accelerates the entire CRE process—from project conception to marketing and transaction,” Graciano concludes.