Do you want to explore your dream home and get positive vibes without stepping out? If this question were asked one decade ago, people would think you were a buffoon.
However, this is now possible. Do you think it’s magic? No, this is visible due to the skyrocketing growth of technology. The popularity of AR & VR technologies is rising steeply in the real estate sector. These technologies bring about plenty of changes in property selling & buying experiences.
The blend of AR and VR technology is unparalleled in the real estate industry by providing abundant benefits that improve property visualization and eventually enhance client engagement and training efficiency.
Core concept of AR and VR:
We are aware of the power and benefits of AR and VR technologies. However, do you have adequate knowledge regarding the core of these two? This article elaborately explains these technologies, emphasizing their roles in property buying & selling.
AR implies Augmented Reality, while VR indicates Virtual Reality. Augmented Reality upgrades the real-world environment by overlapping digital content, like pictures, videos, or 3D models, onto the client’s view of the physical world. By implementing AR into your real estate projects, you can make property management better and improve buying, selling, and user experience.
AR engagement rate has increased by 20% from its inception, and the conversion rate has also improved by 90%.
On the other hand, virtual reality is a technology that shapes a simulated, computer-generated environment where a person can engage and interact through the digital space that leaving an enticing experience. By integrating VR into your project, you can reevaluate customer engagement, promote remote collaboration, and product visualization.
The consistent use of AR/VR in real estate recreates how properties are bought, sold, and managed. Now, developers can help buyers see under-construction projects through VR walkthroughs, while AR-powered customization tools can improve the interior designs. These advancements are enhancing customer experience and boosting sales.
Benefits:
Saves time and money: There will be no need to visit the place physically when we use AR and VR technology, and this helps to streamline the process of property search.
Buyers’ time will decrease if they do not visit all the listed properties physically and choose only through this technology, which is aligned with their short-listed properties. This will save both time and money for the buyer and seller.
This makes you smart and competitive: Property sellers are enticing buyers by adopting this technology. It certainly segregates them from those who solely rely on conventional technology. Showing a property with distinct technology makes you ahead in this competitive market.
Property maintenance using AR VR technology: This technology helps customers to visualize any issues in the property to look after. For instance, virtual reality headsets help to see issues and make it easy to identify and sort out in advance.
Customization at its best: Customization is a significant parameter that can double your sales and make you profitable. By using AR & VR, sellers can offer customized experiences to buyers.
They even create tailor-made digital content as per individual preferences and requirements. This not only makes the property unique but also grabs buyers’ attention.
The best option for an outside country: Sometimes, we can see distance become a barrier when planning to purchase property. Virtual reality has broken this barrier due to its visualization element. Agents can host a virtual open house where many buyers can join the session to explore the property and interact with others as well.
Interior becomes easy with AR technology: Sometimes, seeing an empty property, buyers can’t decide how it will look after some time. So, they may hesitate to proceed further. AR technology alleviates this challenge.
By using this technology, buyers can use their phone camera to see flooring, furniture, lighting, and every corner would look in real time within the actual space.
Boosts confidence in Buyers while purchasing a property: Buying a property involves a monetary as well as emotional decision for a buyer. This technology helps them to make their decision certain by giving a real experience.
Case Study
By strategically implementing VR into its sales process, a real estate company in San Francisco has improved its sales within 6 months.
Key factors that helped the company in boosting its growth and sales are;
3D Virtual Tours: By sitting in their comfort zones, buyers can explore properties thoroughly.
Enhanced Client Engagement: VR technology explains the property more enticingly, resulting in higher audience retention rates at the time of presentations.
Reduced Decision-Making Time: Buying choices have improved by 40% as buyers experienced items first-hand in an interactive way.
Future of AR and VR Technology:
Prime importance in planning a smart city: VR technology will play a crucial role in smart city planning and urban infrastructure mapping. Planners and agents will provoke traffic flow and wind forecasts. This approach helps forecast real-world performance and optimize urban layouts in terms of sustainability and comfort. Investors will also use these immersive models to visualize future development potential and can expect long-term ROI.
One can monitor construction: The blend of both AR and VR technology will help great hoe projects be crafted and maintained. Developers will adopt real-time 3D replicas of construction sites to observe their progress, identify any issues prevailing, and visualize changes without physically going there.
More sustainable and environmentally friendly: This technology helps to create more sustainable and environmentally friendly property projects by permitting environmental stimulation before construction. Both buyers and sellers can visualize how natural light, wind movement, and solar energy can be optimized in a property. This can save energy with the passage of time.
Use Cases of AR and VR in Real Estate
Improved training for real estate agents: These technologies are reshaping how real estate professionals are trained. Omitting logistical challenges of physical training, these technologies create real-world-like scenarios (from buyers’ interaction to emergency protocols).
V-commerce: These technologies open a new revenue system for developers. Now, buyers can explore, customize, or even visualize furnished homes through VR tours. This improves buyers’ experience, making the property business more interactive and monetizable.
Property maintenance: AR & VR encourage remote maintenance and facility management. AR guides experts and technicians on how to deal with intricate repairs, while VR simulates the whole maintenance procedure for real-world training.
Conclusion
AR and VR are no longer optional for real estate businesses; they have become a primitive tool in the modern property sector. With virtual tours and data-driven customization approaches, they refurbished the definition of how properties are purchased, managed, and showcased.
To utilize the unending power of these technologies, you should partner with an experienced and professional developer.
The future of real estate is scintillating, and it is the right time to embrace these technologies.
FAQs
Can AR and VR be integrated into mobile apps?
Yes, you can comfortably integrate these technologies into mobile apps by using the right frameworks aligned with iOS and Android. Deft developers can deliver fascinating experiences to users’ smartphones.
What will be the cost for developing an AR/VR-powered mobile app?
The cost depends on factors like complexity, frameworks, features, and backend structures. Though the initial cost is higher, the ROI is high due to improved sales cycle, better customer experience, and faster marketing growth.
