• Skip to primary navigation
  • Skip to main content
  • Skip to primary sidebar
  • Skip to footer
WittySparks Logo White

WittySparks

Ignite Your Thoughts

  • Topics
  • Reviews
  • Newsletter
WittySparks / Technology / Innovation / How are VR/AR technologies reshaping the Real Estate industry?
How VR And AR Are Changing The Real Estate Industry

How are VR/AR technologies reshaping the Real Estate industry?

Updated: January 31, 2022 by Ria Katiyar

Technology is slowly and gradually becoming a vital part of our lives. It simplifies our daily life and reshapes the way different industries work, especially the real estate sector. Today, real estate professionals are focusing on delivering user-centric services using the latest technological innovations.

As the real estate sector and technology are getting closer together, AR (Augmented Reality) and VR (Virtual Reality) are paving their way towards becoming a crucial tool for marketing and leasing agents.

Various realtors have reaped the benefits of investing in VR/AR app development. Others are planning to integrate the technologies in their processes because of the plethora of benefits it offers. Some of which are:

Benefits of VR/AR in Real Estate

Better customer experience:

Real-estate agents are employing the technologies to boost customer’s experiences. Instead of displaying 2D blueprints of the land/property, they offer them VR/AR headsets.

Through these headsets, the potential users can see a 3D model of the property and make changes like customizing the paint color, experimenting with the furniture to be placed, etc. In a nutshell, these technologies bring the blueprints of the properties to life and make the whole process seamless.

Faster decision-making process:

Earlier, it was a challenge for the real estate agents to pre-sell their projects. They were supposed to advertise the project to the home seekers using the power of visualization. However, with the advent of Augmented Reality and Virtual Reality, they can take the clients on tour and empower them to feel the end product.

Besides this, the property’s information is projecting in front of them, making it easier for them to grasp all the details and make their mind. Thus, the technologies are assisting professionals in promoting sales and earning profits effectively.

Effective marketing:

Real-estate professionals are using the technologies to present their idea to investors. This way, the investors are finding it easier to make the decision if to invest in their project or not.

Besides this, the technologies are also showing a significant role in driving marketing campaigns. The Realtors can send the right message to the right audience using the geofencing feature.

Higher NRI purchases:

With the introduction of VR/AR in the real-estate realm, there is a significant increase in foreign investments. Through features like digital tour homes, potential customers can walk into the house without being actually present on the site.

Not only this, various VR apps let the users perform actions like opening doors, revamping furniture, exploring property elements, etc., with a mere finger or hand motion. Thus, real estate professionals can convert clients from any corner of the world.

Although the potential of augmented reality and Virtual reality is still not completely uncovered, it has been seen that the technologies will continue to grow in the future. According to Digi-Capital, VR/AR will reach $150 billion of revenue by 2020, with AR taking the bigger piece of the cake, making nearly $120 billion of share.

This has drifted various players to connect with the top mobile application development companies and launch their own applications. The tech giants like Apple and Google are encouraging them by launching AR tools in the form of AR Kit and Google AR Core.

VR and AR Applications used in the Real Estate Industry

Homesnap App:

The AR-based application empowers the users to dig out the information about houses/property available for sale in an area. The user has to tap on that property’s image, and the information like home value estimates, interior images, taxes, boundaries, nearby schools, etc., will be displayed.

It also shows the property lines around the home with its “Walk the Property lines” tool. Besides this, home seekers can also learn about open houses, recent sales, and so on.

Houzz App:

Houzz app is quite popular for its “View in My Room 3D” feature, which lets the home seekers look at 500,000+ images of furniture and decoration products and try them before making the purchase.

PLNAR App:

This VR-based mobile application empowers the users to take the dimensions of a room to make a floor plan faster and effortlessly.

NuOffice App:

Using Augmented Reality technology, this application offers a 3D visual communication facility to the customers, which renders them with an interactive representation of projects, thus delivering them an emotional experience. The application is also helpful for companies in the field of project management, architecture, etc.

Lux AR App:

The application employs GPS geolocation technology to serve the customers with the location of the properties around them available for sales and interact with the surroundings.

Magicplan App:

The application uses augmented reality to easily compute the amount of material required for the project and make floor plans.

Though VR/AR technologies are still nascent, they establish themselves as table turners for the real estate sector. Allowing the home buyers to have a 360-degree view of a property even before it is constructed completely, the technologies enrich their experience.

If you are in the real estate sector, you should look forward to investing in VR/AR app development to provide better services to the target audience and earn higher revenue.

Related Topics

  • Companies Showing the Best of Innovation and Technology
  • The only guide you need: What are NFT tokens and their future?
  • The only guide you need on what is the Metaverse is to know everything
  • Data Annotation in Machine Learning: 7 Steps to Get Started
  • Best AR Frameworks For Building Augmented Reality Apps in 2020-21
  • What Are The Benefits of IoT in Small Business

Topic: Innovation

Previous Post: « 7 Reasons Why Customers Prefer Online Shopping Over Offline Shopping
Next Post: How is outsourcing entire departments helping with the escalation of startups? »
Profile picture for Ria Katiyar

About Ria Katiyar

Content Writer at Appinventiv
WittySparks Network Contributors

Ria Katiyar is the Content Writer at AppInventiv, who loves to pen down her understanding and knowledge in a simplified and engaging manner. She is an early adopter, likes to stay up to date with the latest technology trends. Her priority is to cover up new technologies and techniques for her audience.

View all posts by Ria Katiyar

Primary Sidebar

Featured Productivity Software

Notion logo
Notion

Notion Workspace can help you stay organized, get started today and take your productivity to the next level.

Try Notion for FREE

The Best Digital Marketing Tool

Semrush logo
Semrush

Grow your business on your terms and get to the top with 55+ marketing tools in 1. Get a flat 40% discount on Semrush Guru plan. No coupon code required. Or

Try Semrush for FREE

Footer

Affiliate Disclosure

If you make a purchase from WittySparks links, we will receive a small commission. See our Affiliate Disclosure.

Sponsors

Partnered with FreePik to use the licensed images.

turn to dhgate for smartphone

Follow Us

  • Facebook
  • Twitter
  • Pinterest
  • LinkedIn
  • Instagram
  • YouTube
  • RSS
  • Mastodon

Copyright © 2023 WittySparks - All rights reserved.
Hosted on Rocket.net

  • About Us
  • Contact Us
  • Privacy Policy
  • LinkedIn
  • Twitter
  • Like
  • Pinterest
  • Copy Link