Discover the groundbreaking influence of Virtual and Augmented Reality on the real estate sector, who can benefit from adopting that new-gen technology, and how it elevates marketing.
Virtual and Augmented Reality in Real Estate: How New Technology Transform The Industry
How VR And AR Technology Are Transforming The Real Estate Industry
You might already know that VR and AR are making the headlines in Proptech. Implementing immersive experiences in real estate marketing strategies allows companies to stay ahead of the curve and elevate provided services. Read on to learn how Virtual and Augmented Reality reshape the real estate sector and who benefits from such a technological revolution.
Virtual Reality: What is it?
Virtual Reality is a three-dimensional computer-generated environment that can be explored through special devices by the person. While being immersed in the virtual environment, people can interact with objects, manipulate them, and perform various actions. Serving the real estate industry, Proptech developers apply VR technology to create virtual tours, staging, architectural representations, visualizing interior or exterior in the design phase, and more.
Augmented Reality: Explained
Augmented Reality is a technology that combines real-life, existing objects and computer-generated ones in the united picture. Think about AR as a filter you can apply to our reality to see additional items atop real ones that create the illusion of being in the same place. Augmented Reality technology is a great interactive marketing tool for the housing business. Applying Augmented Reality in real estate, agents can use tablets or smartphones to demonstrate how the furniture and interior design can look on still ongoing construction sight.
What is the Difference between Virtual Reality and Augmented Reality
The similarities between AR and VR in real estate are clear:
- Both use the same technology;
- Both are applied so users can experience virtual environments in an immersive way;
- Both transform the industry and real estate services approach.
The difference between VR and AR is in how you use it, not in capabilities. For VR, users require a specific headset to be able to experience 360-degree video tours, while AR adds its magic to the real world through applications on mobile devices like smartphones, tablets, or laptops. Some real estate companies use a combined approach called Mixed Reality (MR) to provide out-of-this-world experiences with the advantages of two technologies.
Virtual Reality and Augmented Reality Solutions in the Real Estate
Here are five ways in which virtual and augmented reality real estate marketing strategies are applied in real business to elevate the sales process.
Property Listing Showcase
Traditional showings take a lot of our time, especially when you’re a buyer trying to find a perfect home. With an interactive or guided virtual tour, real estate companies can attract prospective buyers and elevate customer service. Virtual walkthroughs are easily-accessible and interactive, offering detailed views from any angle.
Full-scale Architectural Representation
VR and AR technology solves the issues of selling property under construction or renovation. A full-scale model of an unfinished listing can provide customers view of everything from the floor plan and exterior design to possible interior solutions, backyard usage, and more.
It’s a challenge to sell property with empty, unfurnished walls. Yet, augmented reality for real estate agents transformed what we knew about staging. Using AR or VR technologies, agents can adopt interior design solutions to the specific taste of their clients to guarantee a deal. Virtual staging is popular among furniture shops, like global enterprise IKEA, as it visualizes trendy pieces in real-life rooms, letting customers select the right item.
Real Estate Apps
A Real estate app can incorporate any of the following features, letting the users experience out-of-this-world customer services and immerse in property showing with VR or AR technology. The apps digitalize the business, opening new opportunities and horizons.
AR/VR for Commerce
Some of the Proptech innovations open mind-blowing possibilities for both agents and customers. With ARVR commerce solutions, you can explore the virtual property, change the interior with real-life products, get redirected to the store, and purchase the furniture or decor piece you love from visualization. Connecting 3D models with the stores opens more business opportunities for the designers as well.
Benefits of Applying VR/AR Technologies in Real Estate Business
The 4 ways Virtual and Augmented Reality can Reshape Real Estate have a tremendous impact on the sectors. Therefore, here is how applying the AR/VR approach in your business will benefit you:
- It’s a time saver for agents, buyers, sellers, tenants, and investors;
- Stunning visualizations aim to build an emotional connection with clients by adding cozy elements or unique features to they will be drawn to;
- It brings business on a global scale as it allows accessibility with no geographical restrictions;
- A one-time investment in the real estate app will grant you unlimited innovative marketing solutions.
Boost Your Conversions With AR/VR Technologies
VR/ AR real estate marketing strategies aim to increase your sales, generate new quality leads, and boost conversion rates. Such a digital solution is adaptable to your targeted potential buyer and channels its imagination, providing an illusion of the life they could have in one or another property. VR and AR build a connection between listing and buyer. Therefore, it transforms how we sell properties and reshapes the real estate sector and construction industry with digitalized, out-of-this-world marketing.
Can Commercial Realtors Benefit from AR?
Yes, AR is new-gen technology that benefits a residential or commercial real estate agent.AR for commercial spaces can highlight unique features, add design options, and help see property potential.
What Makes VR and AR the Best Tech in the (Industry)?
Proptech offers many innovative solutions, yet AR/VR takes real estate virtual walkthroughs to a new level. It allows clients and agents mobility, making any property accessible at any time. AR and VR are interactive and engaging methods to showcase and sell the property by letting users see the potential of the space.
How Can I Use VR or AR?
There are many ways you can incorporate VR/AR technologies in your business, depending on the services you provide, your requirements, and your business goals. Consult with professional Proptech developers to find the best-suited solution to your cost expectations and needs.
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