VR and Industrial Real Estate – Klein Commercial Real Estate

Posted on April 3, 2020October 11, 2020 by Jim Klein

In these times of Stay-at-Home and Social Distancing, posting 360 videos is one way to reduce going out and meeting in person. It is the exact opposite of what I learned in sales training, but viewing space virtually is right for the moment.

I apologize in advance because we are still learning the technology. We purchased a consumer 360 camera last summer for under $400. It is called the Insta360 One X. It’s small enough to fit in a jacket pocket and comes with a selfie stick. There is both a mobile and desktop app that can be used for editing and posting. However, neither method is professional quality but is perfect for on-the-go.

image of Insta360 One X Camera and Selfie stick

Three other considerations when factoring in cost:

a new, more powerful computer; to run and edit video properly, you should look for a machine with a powerful processor (CPU) and graphics card (GPU). Ordinary business/office computers simply do not have enough power to handle this kind of workload. We ended up paying $1,800 for an off-brand laptop with powerful enough specs.
a Broadband Internet connection is also essential because even over a fairly fast cable line, it can take over an hour to upload and render a three minute video to YouTube.
knowledge of HTML, CSS, and web design is also very helpful because the videos and images will likely reside on your website

We recently took a 360 of one of our listings in Paramount, California. It’s a 58,000 square foot manufacturing plant and is available immediately. This video works well on mobile devices, though not on desktop as we do not have access to all our tools. If you go to this link on your mobile phone, watch the first minute or so and you will see the building in 360 video: https://youtu.be/7VLNxjOJAaA Below is an example of a 360 Image linked from the Insta360 servers of the same property.

The Insta360 can also take 360 photos. In this instance they can be seen both on mobile or desktop. For example, this is a 360 photo for a 5-acre land listing we have for lease in Gardena, a central location in Los Angeles.

This is another example from a 23,000 square foot building we have for lease. This one is taken directly from Insta360’s servers and allows for several types of views including fisheye, planet, ball, and normal. I find that normal view is the best for viewing buildings.

Finally, we use the 360 camera for street views as well. We stick the camera through the sunroof of the car and drive through industrial neighborhoods; we find it’s a great way to see the area without getting out on the street. A lot of information we collect through imaging goes into our database and is used for digital marketing and cold-calling.

As you can see, the technology is evolving. The more you practice with Virtual Reality, the better it will turnout. Brokers like us need to find the balance by creating useful virtual images that will sell buildings without taking away that time from serving our customers.

Please feel free to contact me with any questions you might have.