The Growth of Real Estate with AR/VR technologies

In the real estate business, it’s most unlikely that a buyer sees the final layout before actual construction which means if someone is interested in a property they would have to wait for a long time. But when the construction is still in the initial stages the customer hardly gets any idea of what the property might appear as. There are genuine second thoughts of purchasing.

So what if we replace this traditional approach with a modern one. Where a buyer only needs to wear headgear and have a real life buying experience right at their doorstep. It sounds exciting in real life getting a buying experience even before the commencement of the actual project. It ultimately leads to your business growth.

According to Goldman Sachs, “a leading investment banking and management firm VR is going to be an 80 billion dollar market by 2025 out of which $2.6 billion is coming directly from real estate”

Considering this boom in the Real estate industry it’s highly apt to upgrade to the virtual reality and augmented reality to increase the sales parameter of your business. Now let’s first understand the basics of VR and AR technologies.

Virtual Reality

Virtual Reality is a 3D technology providing a computer-generated environment enabling a user to have an interactive experience where a user can sense, hear, view and feel. Instead of mere viewing of the screen, the user can immerse in the 3D world. Through VR we can experience the reality that does not exist in the first place. It is a stimulating experience for the users.

Augmented Reality

On the other hand Augmented Reality is an interactive experience in the real-life environment like visual projections, sensory overlays. Unlike virtual reality that builds a totally artificial environment. Augmented reality uses the existing environment and project information over it. It can be best used in projecting the architectural displays.

Consumer these days are technically more involved and updated with technology, with so much information crowd it’s highly important to offer a high degree of services which are instant and time savvy and enhances the buying experiences. VR/AR technologies provide an in-depth view of 360 degrees enabling the user to experience the real view of the site. It’s just like a blueprint of your work. It enables the user to imagine how their potential home will appear. Let’s talk about the benefits associated with these technologies:

Time Savvy

We know it takes a lot of time for an estate agent to show houses to the prospective clients. The application of VR/AR is going to simplify that process and would save the time of both the estate agents and the clients.

No Geographical boundary

Equipping with a virtual view means it is irrespective of the concept of time and place. Yes, now you can simply show a property to a client who is even thousands of km away e.g. an agent in the U.S can simply show the property to the client in Germany. It would further enhance the global reach of business.

Better Understanding

Often it gets difficult for a dealer to interpret the catalogs to the buyers. The VR/AR will serve as a blueprint of the actual outcome.

Cost Saving

The best part about creating a VR/ AR is it’s financially feasible. It requires one-time investment to cut the budget which is very less as compared to actual sample construction of the building. Also, it shortens the time-consuming process of actually creating the site.

Better Customization

In case the designs or ideas are not liked by the clients. E.g. size of the windows, hallway areas, color theme etc. They can be customized as per the specific need of the customers making it a better buying and selling experience.

Efficient Utilization of Resources

With the use of the twin technologies, you can utilize your resources more efficiently like you won’t have to hire much staff cutting off your regular expenses. It will also bring the right customers to your doorstep. Plus you would be able to handle multiple clients at one single time.

The best part about any business is by giving customers what they need. When you match the updating techniques your business is likely to have a smooth run. Real estate industry companies are looking forward to new approaches to reach out to new customers. But with the use of these evolving technologies, the position of business strengthens. Now that you know how important it is to upgrade and if you are looking for creating such exciting ventures in Real estate we are happy to help. Miracle studios believe in staying ahead of times by instant adaption of newer technologies.