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The Five Best Benefits of Augmented and Virtual Reality in Real Estate

augmented reality

Augmented and Virtual Reality have gained massive interest in the eyes of the tech community and beyond, because of their broad applications. These technologies are ready to (greatly) benefit real estate.

 

You are standing in the foyer of your dream home. Above you, the cathedral ceiling offers a dazzling crystal chandelier like those in the Disney princess films. As your eye drifts over to the left side of the grand staircase, your model wife comes floating towards you in a dazzling designer gown. A beep of the horn alerts you to the arrival of your chauffeur-driven Italian sports car and you turn to see the halogen headlights seep over your Koi ponds and manicured lawn, complete with topiary depicting the pivotal battle scene in “The Empire Strikes Back.”

 

Suddenly, you hear a distant ringing and the room and all in it goes black.

It is your mother-in-law calling.

The fantasy is over.

 

This is now the norm for many on the house hunt, as advances in virtual reality (VR) and augmented reality (AR) have become standard issue for those in real estate (RE). Whereas VR involves allows you to see and even navigate a space that may not exist, AR places that space into a space that does, potentially imposing what could be over what is.

 

For the consumer, the main advantage is that, instead of just flipping through Architectural Digest or scrolling through Hauzz, looking for that table or paint color that will make your home the envy of all your other social-climbing friends, you can now see yourself in the house and see everything in it, making changes in real time before you ever set foot in a real open house.

 

For the RE agent, the upgrade fact is that you can now show clients multiple venues (some that may not even be constructed yet) without leaving your office. No more scheduling open houses and racing around town trying to get your checkbook there before your friends (or enemies) do. For both, the clarity provided by these AR/VR tools means a clearer understanding of what is being offered and how much to offer for it.

 

Through the magic of systems like the Homesnap, Lux AR and NuOffice apps, realtors and clients can tour built and planning stage edifices in real time with almost unreal clarity and convenience. Pictures, furniture, and even walls can be moved, all with the wave of a hand!

 

Among the most valuable benefits of such systems and applications are the following:

 

1. Mobility

As the only equipment necessary to take a VR tour is a VR headset and computer, tours can be given of any place from any place. Furthermore, as all walls and structures are of the mind, people with accessibility issues can reach any and all parts of the structure and even taken vantage points that are physically impossible for all humans.

 

2. Visual Projection/Illustration

By superimposing the what may be over the what is, renovations and even entire reconstructions can be seen and assessed before the first can of paint is shaken. This not only allows people to discuss potential realities but it saves time, money and other resources by allowing complete mock-ups to be explored in three dimensions instead of just CAD-ed in two. So instead of zooming out on Google Maps to see the neighborhood, you can now take a virtual walk through it, checking out not just every street, but every square foot of backyard, garage, and pool house. You can even change the time of day to see when and how light and other natural resources may affect the property and how to deal with them most efficiently.

 

3. Client Connection

By adding VR elements to a traditional listing, realtors can more effectively connect with, and sell to, potential clients by ensuring that they see only the properties they want and every element of them. As they are able to offer more, clients will ask more of other realtors and find them wanting. It is a true market advantage for those savvy enough to get on board.

 

4. Licensing and Legislation

By offering a complete three-dimensional plan before the first shovel full of earth is dug, even local zoning administrators can enter the 21st century with the help of VR and can also make their lives and the lives of the people applying for licenses easier by assessing without having to schedule or even come by the property. They can also potentially see where pipes and other potential problems may lie and make sure to account for them before the project proceeds.

 

5. Management

Once the project is underway, contractors, property managers, and clients can all keep track of the actual progress and compare it to the proposals. This will enhance appropriate and effective communications about real progress and even the occasional setback and encourage everyone to keep on track and on schedule.

 

Projected images on portable devices leveraging massive amounts of data? That’s fantasy that has truly become reality, augmented or virtual. 

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