Augmented Reality & Virtual Reality Apps for Real Estate Business
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Selling a property is a real problem for real estate owners using traditional means. A significant transformation in the way consumers complete their purchases can be held responsible for this sorry state of conventional methods.
Today, you instead believe in online shopping than going for something offline. Even if the store is two minutes away, you think of the convenience online offers you. That’s what the real estate shoppers are also craving for- an incredible online experience that they can savor. However, not all real estate owners have incorporated technology.
Just as people went from offline to online to complete their shopping, the various online trends are also impacting the way people consume products. New-on-the-block technologies like AR and VR are not just adding to the experiences, but also personalizing the consumption for easier purchase decisions. These technologies make the real estate experiences immediately available to the end-user. With AR and VR, your target audience grows aware of the property and can make immediate decisions.
The worldwide AR and VR market size is predicted to grow 7.7x between 2018 and 2022.
According to an article in Forbes, 80% of the millennials want to buy homes and a good 51% have bought their homes using the Internet. It is believed that VR is the next logical step to the Internet mix that will help convince the users to purchase the homes.
These statistics show how relevant or useful the AR and VR technology would be to the real estate digital mix. However, if you are still not convinced about how the technologies would revamp the whole industry, we have come up with the benefits of using AR and VR for your real estate solutions.
What does AR stand for in technology?
Augmented reality
According to Wikipedia: Augmented reality (AR) is a live, direct or indirect view of a physical, real-world environment whose elements are augmented (or supplemented) by computer-generated sensory input such as sound, video, graphics or GPS data.
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What does VR stand for in technology?
Virtual reality
virtual reality replaces your vision, augmented reality adds to it. While VR completely covers and replaces your field of vision, AR apps only show up on your smartphone or tablet screen, and even the HoloLens can only project images in a limited area in front of your eyes.
How VR/AR is Changing the Game?
Real Estate Industry
- Want to know how a mobile app development company can introduce AR/BR to your real estate solution mix to improve your stakes and help increase your revenue?
- Millennials are interested in completing the purchase of their home, and they want to do it now. However, they want to view the house and know all the information regarding the house in detail. The millennials run busy, and they can't pay a real visit to the place and know the details of the home or the property they are planning to buy. That’s precisely where VR or AR can help them. AR can give the people interested in purchasing the house a mockup of the house. It will provide a 3D view of the house either in the form of a blueprint or actual pictures. Clicking on the individual parts of the image will fetch you details that interest you. With AR, you can get personalized information that will make you want to complete the purchase.
- On the other hand, implementing VR will help you get a 360-degree tour of the house. With VR, it is possible to know every point in the house, while sitting at home. As a marketer, you can even include some interesting facts about the areas of interest.
- Buying and selling of the property have always bothered the people operating within the real estate industry. However, that can take a back seat now. With the correct implementation of the AR or VR technology, you can sell the property with ease. AR allows people to know the properties within their vicinity. Using AR, you can ask the application to tell you the exact properties that lie near the spot. With VR, you can introduce virtual buying or selling of the property. You can easily formalize the purchase or lease of the property with the help of Blockchain technology
- Both VR and AR are game-changing technologies. They show you exactly what you are going to get. The photography that you get with VR technology is one of the best, and you won't feel misled.
- AR also helps in the proper construction of the site. A change in the pipeline or wiring is pretty common. You need the blueprint to understand how the installation is done, which is where AR can help you. The technology will bring forth all the inner details of the house in fine print, making it pretty accessible to you.
Benefits of Incorporating VR or AR
- The very first advantage of incorporating the AR or VR technology is that it accelerates the entire decision-making process for buyers or investors. How? Well, let’s look at it the traditional way. Suppose you had to make someone invest in your property, what would be your first step? You would naturally show the property. Now, getting the person to go on a tour in real life can be quite a delayed process, considering how busy people are. That’s why AR or VR technology needs to be incorporated. You can show the end product to prospects while they are seated in the comforts of their office or home. The selling is effective, and your chances of converting are higher as a result.
- Earlier, to sell the property, you would send 2D images. That would not connect with the audiences well enough. With a 3D immersive tour, you have greater chances of engaging audiences and getting them to communicate with the property. This emotional connection that they get as a result is how you manage to convert, and gain more with AR or VR technologies.
- You or your clients don’t need to reach the site. The show-n-tell is from the quiet of your home or office with the 3D virtual immersive tours that the AR and VR technologies offer. This way, you manage to save a lot of your time and efforts.
Summing up
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Whether it is about marketing your real estate property or just putting it up there for people to view, both VR and AR technologies are excellent choices. They help the real estate audience make an informed decision about the property. The technologies can be used to make them aware, grow their interest or, even as a point of sale in some cases.
These immersive technologies are indeed offering an unbeatable experience to the audience, thus making a difference in the real estate industry.
Author Bio: Atman Rathod is the Co-founder at CMARIX TechnoLabs Pvt. Ltd., a leading web and mobile app development company with 13+ years of experience. He loves to write about technology, startups, entrepreneurship and business. His creative abilities, academic track record and leadership skills made him one of the key industry influencers as well.
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