3 Commercial Virtual Staging Tips to Generate ROI
by LCP360, on Apr 7, 2021 8:45:00 AM
Commercial virtual staging doesn't get quite the same hype as residential virtual staging. It’s no secret that when we think of brokers and real estate agents, we often think of selling, renting or buying homes. But what about office space, or industrial space?
While selling or renting commercial space requires a different level of expertise, much of what we use in residential real estate, like virtual staging, can be applied to office space, warehouses, storage spaces, and more.
In fact, commercial virtual staging is a powerful tool to generate ROI. As the world around us evolves, traditional staging may not hold the same value as it once did. In fact, many people aren’t coming on-site to tour properties like they used to, which means virtual staging has stepped up to not only show future tenants the possibilities of a space, but also save property owners money.
Virtual staging services also help properties sell or rent quicker, so if virtual staging is in your marketing plan, it’s important to leverage it correctly to make the best use of this service.
When thinking about investing in virtual staging for your commercial property, here are three virtual staging tips that will help increase return on your marketing dollar.
1. Target the modern office tenant with “resimercial” virtual staging
What is “resimercial design?” This is a mix of residential and commercial elements. After a year of most employees working from home, people are bound to be attracted to office spaces that cater to a familiar feeling: home.
Despite the pandemic, many traditional office trends are still popular:
- Open-concept floor plans
- Large enclosed office spaces for privacy
- Co-working workstations
Here are some new office trends gaining popularity:
- Physical distancing and spacious desk layout (without having too much wasted space)
- Smaller, additional conference rooms
- Designs that make employees feel at home (natural lighting, rugs, comfortable seating)
It’s also important to think about the benefits that virtual staging has on tenants. For them, it shows the possibilities a space has to offer. Furniture, finishes and unique design elements (think: greenery walls, glass cubicles, central community hubs, etc) can have a huge impact on your staging efforts.
When staging an office space for the modern tenant, think about what will really draw them in. It can be difficult for most people to visualize the potential of a cold, empty concrete space. But with the right elements incorporated into your photos, tenants are sure to show interest and sign long-term leases.
2. Use virtual staging to determine new office layouts post-pandemic
Are your tenants returning to the office soon? Are you remodeling assets that have been sitting on the market?
Commercial virtual staging is useful for determining remodels, not only for tenants, but construction workers and contractors, too.
Virtual staging, much like renderings, offer construction services valuable information beyond blueprints. Commercial virtual staging helps contractors visualize what a bare-bones space will look like once the project is complete.
Not only is commercial virtual staging for remodels beneficial for the progress and speed of the project, it also helps prevent mistakes or error when executing the design as well.
A few ways you can show virtual staging is with still images or 360° viewers which allow people to see the full room remodel. See below for an example:
3. Replace spec suites altogether with virtual staging
Speculative suites, or spec suites, are one of the biggest costs commercial office owners front when marketing available space. While spec suites are necessary to help future tenants visualize the potential of the office space, the upfront cost can be astronomical, and sometimes, there’s little return. Building out a spec suite can range $50,000 to $500,000. And that’s only for one spec suite. Oftentimes, office landlords are faced with needing to remodel or demolish a spec suite altogether to meet a client’s needs before they move in.
But what if you could show the potential of a space virtually? With commercial virtual staging, this is a reality. In fact, many office landlords are turning to “virtual spec suites” to improve ROI and create a better experience for their clients.
With virtual speculative suites, landlords can show a variety of potential layouts to clients without having to make large investments or pay a construction team to make remodels.
As you saw above, landlords can show off virtual spec suites to clients using tools like Panoskin or simply sharing a few virtual staging images.
Virtual staging statistics tell us that there are numerous benefits with virtual staging, one of which is having a significant return on investment.
Interested in starting your commercial virtual staging project? Talk with our team today to get started.