How VR boosted the Growth of the Real estate Industry

Alan Joseph Alan Joseph
Mar 22, 2021 5 min read
How VR boosted the Growth of the Real estate Industry

The Real estate industry is undergoing an innovative transformation. There is a sudden change in the industry from the traditional ways towards a new and innovative way which is through Virtual Reality. VR has also transformed the functioning of the industry.

VR technology has helped the Real estate agents and companies in getting more clients, delivering top-end services, and growing their businesses. Let’s look at some of the ways Virtual Reality is transforming the Real estate industry.

Virtual Tour of Real Estate
Virtual Furniture
Visualizing Real estate Models
Less confusion
Editing Property according to preferences
FAQ

Virtual Tour of Real Estate

Virtual Reality has made house tours much easier. Everyone would want to take a look at the Real Estate and only then proceeds with the buying of the property. Many a times pictures wouldn’t be satisfactory nor would you get a clear understanding of the structure of the property.

There are a lot of other problems faced as well which includes lack of time to visit the place, unable to travel if the property is far away. All these problems existed in the Real Estate industry and now with the use of Virtual Reality, these are eliminated.

VR helps you visit the property virtually and makes you feel like you are physically taking a tour of the property. All these are possible even without stepping out of your house.

It helps you visit multiple properties within a matter of time and later decide on visiting the place. It helps you save a lot of time and provides you a clear idea.

Virtual Furniture

A real estate place filled with an adequate amount of furniture will always look better than an empty Real estate space. A Real estate space filled with furniture would be easier to sell and would impress you more than an empty one.

According to a report by the National Association of Realtors, 77% of the Real estate agents have claimed that a home filled with furniture has helped the buyers to imagine their future homes.

Filling actual furniture in a newly built house or an empty house is going to be a lot of investment and would cost more for the agents. Virtual Reality helps in showcasing virtual furniture which helps the buyers to imagine their future home and picturize it in an easier way.


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Visualizing Real estate Models

Selling an architectural idea has always been hard. Most of the time the design which is sketched by the architecture would be satisfying but sometimes the end model wouldn’t come up to your expectations.

If it is a bigger project you can find architects or developers coming up with a small model of the project with the roads, community, buildings, etc. in a miniature form. For the interiors most of the time the developers would have to invest in setting up a similar design in a showroom.

This again would require a lot of investment from the developers and would consume a lot of time. Virtual Reality helps in solving these problems and would help in visualizing the interiors and exteriors of the properties which are yet to be constructed.

Through Virtual Reality, the client can easily set his expectations and he would know what the end property or the model would look like.

Number of VR Headsets sold Globally
Number of VR Headsets sold Globally

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Less confusion

In most cases when you move to a new house, you would find it hard to locate the switches or the settings of the devices in the place. The Real estate agents or the owners of the space will have to keep on communicating with you according to your requirements and most of the time it won’t be possible.

All of your queries and problems being answered would depend on the availability of the owner or the agents. Here, Virtual Reality will help the tenants in effectively communicating with their owners or agents.

A Virtual tour about the settings of the house, the uses of different switches, and other technical settings will provide clarity for the newly moved-in tenants. It will be a little bit time-consuming but will avoid a lot of confusion and help the new tenants to get used to the place much more easily.


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Editing property according to preferences

During the virtual tour Β if a client wishes to change the design or add a piece of new furniture in the design, He/she can add it at that moment. This will help the buyer in adding his designs. He/she will be able to edit the interiors or bring small changes to the exteriors according to his/her preferences.

If a person is taking a virtual tour at a house and likes the furniture used in it, they can later go online and shop for similar products.

FAQ

What are the free Virtual Tour Software?

Lapentor, Marzipano, Makevt, Vtility are some top free Virtual Tour Software.

How much does real estate virtual tour cost?

The average cost to receive a Virtual Tour of a property is $350.

Do virtual tours help sell houses?

Virtual tour is a great way to generate interest of the buyers, as it provides buyer a clear idea of the property.

Conclusion

Virtual reality has transformed the real estate industry making the work easier and in a convenient way. It helps both the buyers and agents to save their time. Virtual Reality has already started to change this sector. In the near future, we will be able to see much more inventions and VR becoming more common in many sectors.

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