Is AR/VR a Promising Technology in the Real Estate Industry?

Promising Technology in the Real Estate Industry

From touchscreen encounters to real-world immersive experiences, virtual and augmented reality signal a new way of collaborating across enterprises. Traditionally, the real estate sector was criticized as a slow adopter of innovation and automation. However, disrupting technologies like AR/VR have been a smart advancement which abandons bricks-and-mortar property marketing practices by creating an entirely new ecosystem. Ultimately, digital transformation helps real estate investors to differentiate themselves from the competition in current times.

Having Real Estate Software Solutions is not just enough, applications with (VR/AR) will have a massive impact on how properties are sold, leased or rented in the near future. Now the question arises, whether your organization should ride the wave or get replaced by competitors?

It’s All About Life-Changing Experiences

At the end of the day, real estate marketing is easy when prospective buyers can imagine how the property will look like during their stay. Real estate investors employ several methods to accomplish the goal. For instance, realtors use idyllic model homes, brochures, and do open houses to attract customers. But recently, real estate marketers have ignited the spark by utilizing immersive technologies for generating life-like computer images, immersive virtual walkthroughs, and drone videos of properties.

Today, the type of marketing that leaves a lasting impact on the prospective buyer is more effective than your competition.

Market Forces Driving Adoption of Immersive Technologies

Tech Savvy Buyers Driving Demand

Today, saying potential buyers are comfortable with technology would be an understatement – to them, it is as natural as breathing. To deliver immediate gratification, companies that offer websites or apps with 3D virtual walkthroughs and drone videos, bypass old-school websites.

Ubiquity of Smartphones

Smartphones come with different in-built features like accelerometer, camera, gyro, and much more which makes indoor mapping and positioning possibly easy.

Here are some Benefits of AR/VR in the Real Estate Sector

Enhanced Customer Experience

90% of real estate search is on the Internet with more than 50% is on smartphones. To maximize user engagement on your website, a virtual presence online adds a distinctive value to their website visits. It is a smart way to connect with your audience by aallowing potentialbuyers a better understanding of the property.

While these technologies do not guarantee sales but undoubtedly allow customers to refine their search. Also, reduces the number of unproductive visits and follow up on serious leads only.

Smart Analytics to Drive Decision Support

Analytics is a significantfacetof using immersive technologies since it allowsyou toincrease client engagement, instantly. With analytics, you can provide deeper insights into specific featureswhich are requested by buyers. For instance, if a buyer request to see wooden flooring in the living room with crown molding ceiling provides useful data for predictions and next best actions.

Increase Foreign Client Base

By eliminating the need to physically visit every property, virtual tours empower the market on an international scale. Relators embracing VR/AR are noticing a substantial return on their investment as immersive technology has made their properties available across the globe. AR/VR gives the flexibility that allows users to use Real Estate Software Solutions differently, encourages interaction.

Creative Storytelling becomes Major Selling Point

AR/VR provides multisensory experiences thus help you to showcase your properties in a modernized and profound fashion. While you have the vision, but it is easy to make your clients believe in your under-development projects from your perspective with AR/VR apps.

Augmented Reality in Action

Augmented reality overlays 3D digital images over the physical world which offers smart and advanced marketing opportunities to real estate professionals. Augmented Reality Software Companies can turn flat images to interactive holograms for their clients.

With AR apps, users can customize a home, rearrange different furniture combinations, and check dimensions, without being physically present. Depending upon the requirements of your business, you can select the desired AR features of your app and deliver amazing customer experiences.

Virtual Reality in Action

A powerful tool, virtual reality helps in creating compelling experiences for buyers. With VR apps, buyers can access life-like simulation of properties and take virtual tours with the assistance of a VR headset. As it offers holistic experience customers build an emotional connection with remote properties which increases the chance of getting sold, rented or leased.

By providing the ability to walk around a space which is currently unavailable, speeds up reviewing, revising, and finalizing plans for potential construction. It involves tweaks during mid-construction thus saves time as well as cost.

Many reliable VR/AR development companies offer app cost estimation tool which gives you a fair idea about the cost to create an app, helps in figuring out your budget.

The Future

Undoubtedly, VR and AR have the potential of becoming backbones of real estate marketing strategies. Bringing innovation in form of 3D visualizations is just the start, witnessing growth in the real estate sector there are many untold AR/VR applications which have time-saving potential and possibilities to overcome existing real estate challenges.