Virtual reality is poised to become the next big breakthrough for real estate. Recently, two sales associates affiliated with Coldwell Banker Real Estate LLC in Northeast Ohio have traded a traditional “broker’s open house” for virtual reality headsets to transform the way the real estate community can view real estate listings.
Anthony Colantuono and Mike Crimaldi, sales associates with Coldwell Banker Hunter Realty in Brecksville, Ohio, co-listed a $1.65 million property in Moreland Hills, a suburb of Cleveland. Instead of hosting a traditional on-site showing for area real estate agents, the pair opted to invite brokers to tour the home in virtual reality at a restaurant 20 miles away and closer to the city’s top agents.
Crimaldi and Colantuono, who had tested virtual reality technology for the first time at the Coldwell Banker Generation Blue conference held in October, got approval from their seller, filmed the home and then collaborated with Samsung, which provided phones and virtual reality headsets to accommodate the nearly 80 agents who attended.
“Agents are always looking for the next best way to market their homes, and virtual reality is it. I’m now convinced. We more than doubled the amount of agents we would have normally had at a traditional open house. This type of exposure is critical. And while we would fully expect these agents to bring prospective buyers to the home itself, the agents now have an amazingly realistic view of the home.”
– Anthony Colantuono, Sales Associate with Coldwell Banker Hunter Realty
“Through virtual reality, we were able to see each detail of the house without ever stepping inside. It is so realistic that many actually reached down to hold the railing as they virtually walked down the steps. It’s a game-changer for real estate agents who potentially can use the technology to see dozens of listings in one sitting and provide even greater value to their clients. ”
– Mike Crimaldi, Sales Associate with Coldwell Banker Hunter Realty
“We were impressed by Anthony and Mike’s unique idea to image the home and create a VR tour. This allowed dozens of agents to view our property in a unique and memorable way. We know it will make the difference in getting our home sold quickly.”
– David Fishman, home seller
“We are forward thinking and recognize the potential of virtual reality. Mike and Anthony pushed the envelope and, in the process, showcased how properties can be marketed to the real estate community in a new way.”
– Sean Blankenship, Chief Marketing Officer, Coldwell Banker Real Estate LLC
About Coldwell Banker Real Estate LLC
Since 1906, the Coldwell Banker® organization has been a premier provider of full-service residential and commercial real estate brokerage services. Coldwell Banker Real Estate is the oldest national real estate brand and franchisor in the United States, and today has a global network of 3,000 independently owned and operated franchised broker offices in 48 countries and territories with more than 89,000 affiliated sales professionals. The Coldwell Banker brand is known for creating innovative consumer services as recently seen by taking a leadership role in the smart home space, being the first national real estate brand with an iPad app, the first to augment its website www.coldwellbanker.com for smart phones, the first to create an iPhone application with international listings, the first to develop an iPad application (CBx) to easily bring big data into home listing presentations, and the first to fully harness the power of video in real estate listings, news and information through its Coldwell Banker On LocationSM YouTube channel. Coldwell Banker is a leader in niche markets such as resort, new homes and luxury properties through its Coldwell Banker Previews International® marketing program delivering exceptional experiences for all consumers served.