In this article, we had the pleasure of speaking to Benedikt Kiefer, Consultant Investment Advisory at Cushman & Wakefield, about how they increased their efficiency by providing their customers with in-depth virtual property views.
Cushman & Wakefield is a globally operating full-service real estate consultancy. There are more than 300 employees in Germany covering all needs for clients such as Project & Development Services, Leasing, Capital Markets, Valuation & Advisory, Tenant Representation and Asset Services.
Mr Kiefer works in the capital markets, Investment Advisory department. They advise their clients primarily on sell-side and buy-side real estate transactions and facilitate the process to allocate capital / invest into real estate in Germany. The Investment Advisory Team specifically is responsible for portfolio real estate transactions, complex real estate M&A transactions and all alternative asset classes in Germany.
Over 5 years ago, Cushman & Wakefield set out to find an alternative to actual site visits of real estate properties. This was especially important for when actual site visits were either limited or not possible at all. The unique construction, floor plans and size of the properties made it necessary to provide an in-depth view.
Mr Kiefer mentioned, ‘We have primarily used iStaging to create, edit and store virtual tours we have done. When actual site visits are limited or, in some cases, not possible at all, a first view with a 360 degree tour helps tremendously to understand properties in a good manner. Even though this was already happening before the pandemic, it turned into an absolute necessity when Covid hit. The lockdowns and risk of contamination during site visits made iStaging a great asset.’
‘As of today, we still like using 360 degree tours to increase our processes efficiency, Benedikt says.’ And, more recently, we have also used their add-on service to create promotional videos of exemplary tours for further promotion. This is something we will likely use more commonly as well.’
The 360 degree virtual tours are simple to set up and the after-editing has great tools to have a clean virtual tour. It's great to be able to share the tours in a given order and the platform's built-in privacy features allow users to selectively blur out any confidential footage or data, ensuring that sensitive information remains secure.
What They Say
‘As a business, we have experienced a higher customer satisfaction by using iStaging for our virtual property tours. On average, about 50 customers have a look at each virtual property tour. With this, we are able to proceed faster within our processes and gain efficiency.
Clients and Investors participating in our sales processes have mentioned it’s a great addition to actual site visits. They are able to form a better view and understanding of the site and property.’
‘We have had an excellent experience working with the iStaging support service. As a business that operates in a fast-paced environment characterized by frequent short-term changes and timely requests from our clients, we're thrilled to have found a partner that operates in a similar manner. We are confident that our continued partnership will enable us to provide even better service to our clients in the future.’
Creating a virtual tour for your property, hosting virtual open houses and managing properties couldn’t be easier. Becoming more technologically resilient will set you apart from competitors, help you to gain the seller and buyer’s trust and seal the deal faster.
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