The Evolution of Augmented Reality in Real Estate
Virtual tours, a fairly common term that you certainly might have come across, is gaining popularity in the real estate world. What once started as a rage in a smartphone game Pokemon Go, is now an application being used to change the way the real estate market works.
Augmented reality in real estate has given both the sellers and buyers a platform that not only saves time, but also intrigues the user. Though the rage has just begun, the incorporation of AR in realty has brought many new opportunities that the users can take advantage of.
The pre-augmented reality era issues:
- Catalogues and printed sheets spoke very less of what the actual property looked like
- The presence of photos gave buyers only a single perspective of the property
- 3D models did come to the rescue for a while but could not showcase the entire property as it is with the inside details
- Taking out time to visit a property was in itself a task
The post-augmented realty era solutions:
Identifying the pain points for the realty sector, a reliable solution was needed. Augmented reality came as a tool that had the potential to change the way market worked. Moving directly from 2D to 3D images that could be accessed similar to visiting a viewing an actual property, it brought the edge that real estate had been missing.
The first task for a real estate agent is to gain the attention of the buyers by showing them what’s in store. Augmented realty for realtors turned out to be the boon that gave the market a new direction. It enabled them to provide the prospect buyers with an on-site experience that was not only new, but very interesting as well.
An additional feature that many augmented reality apps give the users is placing the furniture in the properties they ‘visit’. The interaction between the buyers and these apps gives them a sense of belonging, keeping their interest alive. They can simply check how would their furniture look in the property and can get an idea about the space.
2. Top selected pics will be paid visits
Amongst the advantages of augmented reality in real estate is the narrowing down of options in the initial stage of property buying. Looking at 10 options and coming down to top three is a great way to start. This will give the buyers an upper hand, and they will be able to make better judgements in a short span of time. Visiting all the properties one by one and then finalizing which one to go for is anyway not a good idea.
3. Augmented reality in property development
Another dimension that AR in real estate has presented the builders with, is the creation of virtual models. Developers can build and check multiple models before the actual construction, and thus can make as many alterations as they want. This decreases the reliance on 2D architectural plans and instead gives the developers an insight into the final showcase that they have for the customers.
Similar to all things new, along with the benefits of augmented reality for real estate, a few drawbacks appeared. According to many, who believe AR is not a good fit for the industry, it will bring the realty market down. However, following are a few misconceptions about using AR in real estate, and the actual truth behind them.
- It will replace many traditional methods in the market:
Augmented reality property development is the new way to develop homes and engage potential buyers. However, apart from aiding in the entire process, it is not going to decrease the essence of the realty market. As mentioned, it saves time for both the seller and the buyer.
- AR will eliminate jobs:
A tool that makes showcasing products easier, it will never take the market towards the direction of taking away jobs. With AR in hand, the real estate agents will be able to guide and handle their customers better. With the potential to see the property and arrange their furniture within AR real estate apps, it will give the buyers a personalized experience leading to increased proficiency for the agent.
The advantages of augmented reality applications have rendered an entirely new tangent to the market which was initially running on traditional methods only. The use of AR has so far been a boon to the industry. The oncoming of new age technologies have given both the seller and the buyer a new perspective and thus, a new era of real estate has begun.