Four Ways Virtual Reality is Transforming Real Estate

Four Ways Virtual Reality is Transforming Real Estate

Four Ways Virtual Reality is Transforming Real Estate

 

Virtual Reality (VR) is one of the greatest technology innovations of the 21st century. With the help of VR, people can simulate their experiences by creating a realistic virtual replication of the environment and even interact with it in real-time. Technologically advanced industries such as automatives, healthcare, retail, tourism, and gaming are already using VR to enhance their clients’ experiences. However, one of the most successful applications of VR has been in real estate and property management sectors.  

VR is transforming traditional marketing processes of real estate that requires buyers to physically visit properties they are interested in. Now, with VR, buyers can take a virtual tour and have an immersive, three-dimensional view of the property without even visiting it in-person. Potential buyers can take dozens of virtual tours from the comfort of their homes and save valuable time and money. Commercial as well as residential real estate companies are offering virtual tours by providing 360-degree videos and interactive 3D tours of the whole property.  

There are four key benefits that VR offers for real estate companies as well as buyers.  

1. Staging 

Staging is a very effective way to market a property, but it can be costly and time-consuming. VR allows realtors to create visually stunning virtual tours and staging of the property eliminating the need for expensive interiors and décor.    

2. Architecture

Marketing properties that have not been constructed yet is a challenging task. VR allows realtors to offer virtual achitectural visualizations of the property even before its consuctructed and provide clients with an immersive interior as well as exterior view of the property. 

3. VR Commerce 

VR Commerce can make the entire property buying or renting experience truly engaging for the customers. Imagine allowing buyers to replace décor items in the property’s interiors with something that fits their taste or even purchase selected furniture or artifacts from the virtual tour at the click of a button.    

4.Engagement

Virtually viewing a property before it is built provides potential buyers with a fair idea of how the property will look like after construction. Any changes or concerns can be communicated at this time to reduce change orders as well as costs associated with it. Buyers could also have virtual trial-and-error rounds, if desired.  

Way Forward   

While VR immerses potential buyers into a completely virtual world, Augmented Reality (AR) enhances the real-life experience by allowing users to overlay digital content onto the real world. For instance, users can make any sort of simulations with furniture or other accessories within the property they are viewing. An amalgamation of AR and VR technologies has the potential to transform real estate marketing and sales. The real estate industry has been vying to adapt such technologies in order to leapfrog the competition, hence ruling the future especially during the present pandemic situation.  

RealForce, is an advanced property management software allowing real estate and property management companies to apply VR as well as AR to maximize their marketing as well as sales efficiency. Built on Salesforce, world’s #1 CRM solution, RealForce offers a range of features that make it one of the most powerful property management software solutions ever built.  

For more information about RealForce, contact us at marketing@rialtes.com.  

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