Zillow, LCP Media to Offer Free Virtual Tours to Eligible Properties
Communities can capture up to six areas at no cost.
Zillow Rentals has partnered with LCP Media to offer virtual property tours to eligible multifamily properties. The agreement provides for one year at no cost on LCP’s TourBuilder platform, with discounted renewal pricing in subsequent years.
The firms collaborated on the promotion to support properties impacted by Zillow’s removal of Matterport tours last year.
TourBuilder creates immersive 3D tours of a property that prospects can explore online. Additional packages are available to capture more media and more spaces, such as individual apartment units.
LCP Media is multifamily-focused and able to support operators of large, national rental portfolios, in addition to regional asset collections, delivering professional property photography and 3D tours at scale.
The growing importance of immersive media
As the rental process moves further and further online, immersive marketing is becoming a more prominent way for prospects to engage with properties.
“Renters today are making decisions faster, often before they ever step foot on a property,” Michael Sherman, senior vice president of Zillow Rentals, told Multi-Housing News. “Immersive tools like 3D tours give them the ability to explore a community on their own time and feel confident in what they’re seeing.”
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According to Zillow research, 57 percent of recent renters consider having at least one digital media feature such as 3D tours, virtual staging or drone photography as essential to their apartment search.
Meanwhile, data from Yardi, the parent company of LCP Media, shows that properties with virtual tours saw a 33 percent higher lead-to-lease conversion rate compared to properties without them.
“Media is proven to increase both marketing and leasing results,” noted Izzy Carunungan, industry principal at LCP Media. “Our goal is to provide a media strategy that positively impacts our clients’ bottom line.”
Note: Yardi Systems is the parent company of Multi-Housing News.
