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How AR and VR are Redefining Experiences in Real Estate Industry?

Paul Cook
I am a technical author and enthusiast. I share views on software solutions and new innovations.
・3 min read

Want to buy your dream home but struggling to find your ideal choice? Not anymore! With advancements in technology the real estate industry is changing at a rapid pace. Real estate professionals are leveraging popular technologies, especially Augmented Reality (AR) and Virtual Reality (VR) to offer unique experiences to buyers. Also, there is huge potential business for mobile and web app development experts as AR and VR is expected to reach at least 80 billion dollars by 2025, according to Goldman Sachs report.

How AR and VR are Redefining Experiences in Real Estate Industry

Now let’s take a look at how AR and VR are disrupting the real estate scenario and how this technology can give you an edge over the competition.

Enabling clients to experience homes

Ask any real estate agent and they would tell how much time is involved in showing houses to clients. They welcome AR and VR apps which make the process of showing homes easier and seamless for them. As potential buyers can experience a home from an entirely different perspective clients can filter out homes they like or they don’t like before actually seeing it thus saving precious time of real estate agents.

Opening doors to international investments

With the advent of AR and VR in the real estate industry, there has been an increase in foreign investments. This is because now you can easily experience a property in San Francisco while having your dinner at Singapore. Thus, these immersive technologies are unlocking the international investment potential in the global real estate markets.

Accelerating decision-making process

Earlier it used to be very difficult for real estate developers to pre-sell projects. This is because it used to be challenging to make the prospective buyers to visualize the end product. However, with AR and VR now they are able to give a tour to their clients and experience the end product even before they are actually built. Thus, promoting sales effectively and saving funds from being stuck in projects for longer duration.

Lots of AR/VR apps are hitting the market

As AR and VR are making significant impact on the real estate industry, many players are launching their own apps to stay ahead of their competitors. However, it is very crucial for you to collaborate with an experienced web and mobile app development agency to make the most of this opportunity.

Facilitating luxury sales with immersive viewing experiences

Many deals in real estate space occur without actually seeing the properties. For luxury sales, while number of potential buyers is limited immersive viewing experiences have become a game changer. So, if the prospective buyer is from another country an AR/VR app can play pivotal role in converting them easily.

Wrapping up

Today AR/VR can give you a competitive advantage; however in the next decade it will become a norm. So to stay relevant in the industry you would need to keep your finger on the pulse of both AR and VR.
Do you agree that AR and VR are revolutionizing the real estate space? Please be the first to let me know what you think about the impact of these technologies on real estate industry. I would love to hear from you; start a conversation by leaving your comments below.

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