Why Virtual Reality in Real Estate is a Good Idea?
The satisfaction of buying a property is unparalleled. However, what comes with it, is the task of visiting and checking each property physically. But, thanks to latest technology and its incorporation in real estate, you can now check out sites from the comfort of your home.
What Virtual reality in Real Estate mean to buyers?
Virtual reality or VR, is the new-age tool that is changing how things are done in the real estate market. Exploring, shortlisting and finalizing on a property can now easily be done using VR. Time efficient and interesting, it is bringing in a revolution into the real estate industry.
With virtual reality penetrating the real estate sector, it is possible for a buyer to experience the property visually through a 3D model. The visualization gives an insight into the ‘actual’ look and feel of the property way before it is ready for a physical examination. This enables the potential buyer or the buyer to understand where his/her money is being invested. The advancement has now made it possible for a person sitting in one country, for instance, the USA, to check out a property in India.
Not only buyers, but dealers and real estate developers are also benefitting from the use of virtual reality in real estate. Identifying things before they come to life in order to make them better is one aspect that is garnering the attention of many. Developers can also get an estimate of the amount of materials to be used for developing the property, further making it simpler for them to buy the required amount of raw materials.
An added advantage is that both the developers and buyers can suggest changes as per their needs. If a buyer does not like the marble flooring in the living room and wants to opt for wooden flooring instead, he/she can easily ask the developer to do so. This will give the buyer an upper hand, the user satisfaction will increase, and also strengthen the relationship between the developing and buying parties.
Just like everyone else, architects and interior designers can also have a piece of this technologically baked cake. They can now showcase their ideas with ease. Changing the floor plan or the color of curtains for a virtual tour is much simpler than making people visualize how their homes will look after a makeover in reality. Some paper etching and a VR device will give the user an insight into the magical ideation of the architects and designers.
While the incorporation of virtual reality in real estate has numerous benefits for the buyers, there are a few aspects that need special attention when it comes to the sellers, advertising being the number one aspect.
The success of a real estate business depends on the tenants it gets from time to time. The rentals that a company gets effectively make their business flourish. The right tenant at the right time is what a business aims for. With VR, this process simply translates to showcasing multiple properties available irrespective of the location. 3D websites or virtual tours saves time for all the parties, the landlords, real estate agents, property managers, and buyers.
Moreover, it also acts as an attention seeker. A real estate agent with the facility of virtual tours of the properties would certainly see more inquiries, as compared to one that who do not provide it. Along with the curiosity of using technologically backed systems to see the properties, the ease with which the entire process pans out, keeps the buyers interested.
A 360 tour or a scannable QR code on a flier that helps download a virtual tour app gives the real estate selling business an additional edge. Motivating a buyer requires the seller’s innovation and ideas to use VR towards their benefits.
Taking the experience a notch higher, tenants and buyers can also be briefed about the proper usage of hi-tech systems installed in the properties. Laundry, security systems, switch boards and other installed devices might be new for people, and they can be given tours to teach how to use these effectively.
Along with virtual reality in real estate, augmented reality has also been playing a crucial role. Virtual tours combined with an option to see how different colors and furniture will look like, gives the potential buyers a real understanding of the look and feel of the property.
The addition of AR and VR to the real estate industry has added a new dimension. The property buying experience has enhanced, and along with it has improved the real estate business. The incorporation of technology has made the overall process simple, easy and effective.