The real estate realm is changing rapidly by embracing innovations in technology that make it possible to envision and experience a property personally without actually being present physically. Virtual reality (VR) and augmented reality (AR) are two powerful technologies making a big impact in the real estate industry.
By integrating AR and VR technologies into their businesses, real estate professionals are changing the way people experience home buying, building and selling; whether it’s viewing an AR 3D building through interactive print OR virtually standing inside your future home.
What does the future hold for Real Estate, VR or AR?
Real Estate Applications of Virtual Reality
Real estate professionals are successfully using VR to help their clients not only envision, but digitally tour homes and properties from anywhere in the world by simply wearing a VR headset and entering a lifelike simulation of that property. VR allows the prospective buyer or developer to experience walking through a home without actually being on site. Some applications even support modifications to the VR environment such as opening doors, exploring property amenities, and rearranging furniture, all with the simple hand or finger motions.
While this experience is extremely compelling for a potential buyer, VR is also a very powerful tool for helping real estate professionals to showcase homes and expand their pool of clients through the use of this technology. Moving forward we expect more companies to begin designing real estate 3D models through virtual reality.
Real Estate Applications of Augmented Reality
Augmented reality is being used by real estate professionals to bring traditional, flat print materials such as blueprints and photos to life right in front of the consumer. For example, by using AR technology, a real estate professional can pop up a lifelike 3D model of a home that is completely interactive. The model is much like a hologram, but a client can modify features of the home such as paint color and try out different pieces of furniture, to scale, in the digital home replica.
AR provides a very unique opportunity for every level of the real estate industry. Professionals believe that augmented reality provides great value at the early stages of a construction project, to the final selling and marketing tools when selling a property.
Investors and developers can use AR technology to create life-like, interactive home models which accurately demonstrate construction or renovation plans in a way that photos and blueprints could never match. More importantly, the ability for buyers to interact with these 3D models (not just flat images) has proven a great ROI for real estate firms. Augment is a augmented reality software that has an analytics backend allowing clients to see when, where, and how often people use the AR interactive print campaigns. Though, there are other teams like Daqri who have built AR hardware which services the construction workers while on-site; another vital area of the real estate industry.
AR seems to be sculpting to become the end-to-end solution for such a use case. Ultimately, AR offers an enhanced and personal experience to prospective home buyers who can now see a potential building project transform into their home with personal touches and customizations, all before they start the buying process.
What Does the Rich Technological Future of Real Estate Hold?
The future role of impactful technologies such as AR and VR in real estate is transforming continually as real estate professionals harness the potential of providing a completely lifelike experience to potential home buyers.
There has never been a more immersive and impressive manner to breathe meaning into the real estate experience than these two technologies provide. Both have their advantages in different sectors of the real estate market but either way they are helping to engage potential buyers and drive sales. From interactive campaigns to virtual on-site visits, the potential for this technology in real estate is still in it’s earlier stages.
With augmented reality specifically, Augment has been used in early planning phases by bringing blueprints to life and empowering investors and contractors to interact with their lifelike models. We’ve helped drive marketing campaigns through interactive print and even allow interactive buildings to be seen in AR for larger real estate projects.
If you’re in the real estate industry, don’t fall behind the times, use VR and AR to give your potential buyers an experience they haven’t had before.