An Overview of VR and AR Applications in Real Estate
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A few years ago, a buyer strolling around an unbuilt property would’ve seemed a bit crazy. It is hard to see any grace or warmth in a building under construction. It was not until recently that real estate industry braced this revolutionary technology. Before that, the promotion of unbuilt properties was done through words at best. No one would have thought that one day VR/AR technology would transform this sector.
VR/AR has provided the utmost convenience for both buyers and sellers. The unbuilt property can be toured from a remote location. Buyers are saved from the hassle of physically searching for properties this way. Sellers can also get a correct evaluation of their property through VR visualization.
All-in-all both these technologies have done the world of good to property businesses. In this article, we take a look at major applications of VR and AR technologies in real estate.
Virtual Tours for Built Properties
As specified, both these technologies facilitate virtual tours of listed properties. When it comes to VR, these tours can be set up in a variety of ways. For furnished properties, photos and videos from different angles can be used to set a tour up. These images/videos can be used to give an immersive tour experience to the buyers. The buyers can remotely visit the property with convenience through these tours. Such tours can be set up for digital devices and can be initiated through an internet connection. Anyone owning a smartphone or a PC can participate in virtual tours.
The tours can either be guided or interactive. Guided tours can be participated in by wearing VR headsets and moving around. Interactive tours are conducted on digital devices and offer click-through options as well.
Software platforms like Matterport greatly facilitate this process. Matterport is a platform that offers a highly sophisticated viewing experience. Any type of listing can be set up to be an interactive experience for buyers through it. Sellers can easily create 3D walkthroughs of their listings through such software
Virtual Tours for Unbuilt Property
For unbuilt property, the virtual tours are arranged using 3D rendered architectural visuals. Using a suitable rendering software, animations and shots can be developed. The photorealism of these 3D visuals makes this experience authentic for the buyers. These visuals are helpful in engaging buyers before the property is even built. Through these virtual tours, the audience can fully assess the property. The developers can also change their furnishing plans to suit the buyers’ needs.
By developing VR tours for unbuilt properties, sellers choose to be proactive, and it pays off. They can refine the plans for the property through the audience’s response. It is also good because it helps them receive more bids for their property. The value of the unbuilt property increases as a result of VR tour development.
This is one of the applications of Augmented reality technology as well as VR. AR furnishing is used in stagings of empty houses. Without any decorations or objects in place, the listing might seem bland. To catch the buyers’ interest, virtual objects can be placed in spaces during tours. More reputable property sellers have highly sophisticated AR listings. These include options to move and replace household objects in the AR visuals. This helps the buyers decide whether or not the property is suited to them.
Further advanced AR listings offer a wide range of furnishings to choose from. You can even change the colors of walls and doors to see what you prefer. Such features help buyers become emotionally attached to the place easily. Another important feature of these listings is the interactive layout. Owners can insert information in the AR listing regarding the features of the house. You can read the information when you come across that particular place on your tour.
Such sophistication can be added to VR tours as well. Owners can add virtual furnishings to engage potential buyers better. The buyers can see furnishings through their headsets or their devices.
VR can also be effectively used while presenting architectural projects to stakeholders. Designers can leave no room for error while presenting their projects to owners. In such situations, this is a thorough way to present the features of the renders. Some platforms offer to connect virtual 3D tours with real estate presentations too. By adding this feature on their devices, the stakeholders can get to know all the features. It is an impressive way to let the owners get acquainted with their projects. It is also effective for remote conferences, which are the norm these days due to the COVID pandemic.
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