For the past decades, the idea of replicating the reality was in the realm of science fiction. Now VR and AR-driven technologies are firmly crawling into every nook and cranny of the major industries. For some companies, the implementation of these technologies became a proven strategy to increase sales and acquire more customers. For instance, Pokémon GO, the VR-based game hit the incredible $1.8 billion over the past 2 years. In 2018, the mobile messaging platform Snap doubled its revenue. The sudden success is explained by the implementation and development of the AR-based features.

We mainly associate VR and AR-based technologies with the world of entertainment. However, emerging of new companies that closely work with VR and AR and hitting the headlines of the major media coverage, put these technologies at the top of the hype curve and sparked off a great interest among non-entertainment-related businesses.

Real estate sector is not an exception. In the recent report, Grand View Research estimates that by 2025, the real estate market will hit $4,263 billion in revenue. As a result, the majority of the companies will play hard to set themselves apart from the competitors. The augmented reality and the virtual reality may offer a disruptive solution for the real estate businesses.

Here is why you should jump into the game now:

Using new technologies will help to reach emerging demographic segments. For instance, according to the Touchstone Research Group, more than 70% of the developing and promising market, known as Millennials, (people born after 80-s) shows a very optimistic attitude toward using AR and AR. That is why they will be more likely to co-operate with the companies working with AR/VR-driven technologies.

When it comes to showing the properties at construction or pre-construction stage, the real estate professionals put themselves at risk of not being able to verbally create the image of an ideal property the client would potentially buy or rent. This is where the augmented reality may come to the rescue. No matter what stage the property is being at, with the AR house solution, the customer can place the building on a certain place on the surface and walk through it using a cell phone or a tablet. The elements of decor, furniture and the house amenities will be overlayed on the physical surface.

One image worth 1000 words and we cannot help agreeing with this statement. The customers can interact with the design and furniture elements through 3D Architectural Visualization: select and move the objects, open the doors and walk through different rooms; view the interior from different angles and directions; be able to switch the lights from ON to OFF to get an idea of how the property will look at various times of the day; change the colors of the furniture. The listed features will allow the customer to come up with suggestions on design modification which eventually saves time and money for both real estate company and its customer.

If expanding the market globally is one of the top priorities for your real estate business, the augmented reality and virtual reality may come in use. The clients are no longer required to spend a good deal of time on negotiating and reviewing the long list of properties. They can view it from literally any part of the globe through 3D tours without traveling hundreds of miles and save time and ton of money.

When dealing with new or prospective customers, it is important to keep in mind that they are not buying houses, offices or any other property; they are looking to buy a sophisticated replica of their dreams and a concept of an ideal place which is associated with coziness, comfort, and well-being. This concept can be perfectly conveyed with the help of the virtual reality and augmented reality.

Still unsure about going 3D? Contact us and we will explain why it pays off to implement AR and VR solution into your real estate business now.