How is Virtual Reality Transforming the Real Estate Industry



Technology has changed the people’s perception of the world by either generating a new environment for them to cross or by providing them with a tunnel to all corners of the world they would never otherwise got a chance to visit in their lifetime. Virtual reality, briefly defined as a computer-simulated environment, has transcended social and geographical barriers, and its application has increased by a considerable margin since it was introduced.

Before virtual reality was limited only to the gamers and high-cost software’s, but now it has included all the industries, including real estates. For the longest time, real estate agents had to list all the available properties to their clients. Once the client has selected, then they plan for an appropriate date to visit the building of the house and finally once the client has got the ideal home he or she can buy the estate or property. Virtual reality has changed all that, and the client can get a chance to visit all the properties, get the inner view of the building in one day.

So here are some of the ways that Virtual reality has helped the real estate industry.

Virtual reality property show

Gone are the days when it required a client to physically visit several properties before getting the right property which was time-consuming, exhausting and also expensive both for the client and the real estate agent. Virtual reality has come in handy, solving all those problems by allowing clients to visit many houses just from the comfort of their homes. Wearing a virtual reality headset can give you a 3D experience and get potential home buyers, or potential renter receives a tour of many properties from the comfort of their homes or at the offices of the real estate agent. In an interactive guide by the agent, the client can be able to view the interior and exterior of the property. To get a great experience with virtual reality, you need a secure network, and to achieve that you need to have a virtual private network. To get the best VPN, you can check the list of best VPNs by VPNRank and make your selection.

Virtual staging

Just imagine you are a real estate agent and you are presenting an empty house to a client, the house might look that great, but since it is empty the client might not be impressed but have another case scenario where you are selling a house with the furniture’s, beddings, electronics and many more, the client will most likely bring out his chequebook and buy the house or property. Virtual reality transforms the empty house to a well-furnished house and thus helping the buyer to be able to associate with the property. There is, however, the threat of hackers that you need to deal with as VR becomes more popular and gets noticed by cyercriminals for their gain.

Architecture visualization

Marketing a property or an estate that isn’t yet to be constructed has always been a tremendous challenge for real estate agents and developers. You’ve probably seen large 3D models that show a new neighborhood or property. These illustrations help potential buyers imagine the architecture of the buildings.

When it comes to interiors of these constructions, real estate agents and developers create large showrooms with full-scale models of the actual apartments. This type of marketing requires vast amounts of investments. VR can efficiently solve this predicament and allow potential homebuyers and renters to carefully check out both the interior and exterior of a building yet to be constructed.

Thanks to VR, architectural visualization has become a lot more immersive and much cheaper. Real estate agents can use Virtual Reality technology to show both the exterior and interior of properties that aren’t built yet so that clients can get a detailed look at what’s being offered. Nonetheless, it is important to proactively deal with the privacy implications of VR and choose protective software to stay safe from online threats. 

Virtual instruction to the tenants and landlords

Regular call from your tenant always asking on how to use the thermostat regularly can be a bit tiring and annoying. That is why having a VR with all the instructions regarding all the devices and technology used in the house or property solves all the “to and from calls between the client and the agent. 3D tours of the property and building help the client understand different devices used in its construction and its importance.

Virtual commence

Since the introduction of Virtual reality in the real estate industry, the cost of operation has decreased, and the conversion rate has also increased. Clients have been able to buy and make any possible changes for the building they want to buy by just a click of a button while at home or their offices.

Many industries have been transformed by virtual reality, and many more are to be changed. As VR gain more popularity around the world, the more it becomes prone to hackers, a number of cases have been reported where the experience was hacked, and unwanted information displayed. So to avoid all this, you can use the best VPN depending on the country you are. For example, if you are in China, you can check for the best VPN for China to ensure you are secure when using virtual reality.

Comments

  1. As a real estate photographer in Orlando, FL I can attest that my virtual tour sales have increased quite a bit. It was on a niche product that I had, but now everyone wants it. It’s my opinion that this is the way of the future, even after this pandemic goes away.