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Will Virtual Reality Help Your Next Home Move?

By Allison Halliday | December 2, 2016

Recently, has highlighted the fact that many people need to move cities in today’s economy. This can be time-consuming and expensive to plan, particularly if any of the shortlisted properties fail to live up to the photos.

Companies such as Matterport and Sotheby’s International Realty already have services allowing clients to tour luxury condos in 3-D. To do this, multiple Go Pro cameras scan a location, with the images then being stitched together so potential buyers can see the environment in high definition. Not surprisingly, this process isn’t cheap and can cost anywhere from $300-$700, but as with all types of new technology, the cost is expected to come down as virtual tours become more popular.

However, one problem with virtual tours is that it cannot help people visualize spaces that are still in the process of being constructed. This is where a company called Floored may be able to help. This allows clients to create what the article calls immersive simulations for architectural projects that may still be in the early concept stages. The company has approximately 50 employees, with 20 working directly in software development and it has been creating 3-D software since 2012. Apparently, a large proportion of the company’s clients is currently using the technology for marketing and it’s easy to see the appeal. This technology is also appealing to people working within the real estate industry who are interested in innovation, realizing it could help them stand out from the crowd.

These clients include those who are building retail space and who need early occupants, as well as developers who are looking for people to buy real estate for large-scale renovation products. For potential buyers, the introduction of virtual reality could help them feel more confident about their purchase. While obviously, it can never be as good as walking through a real building, it’s the next best thing.
Currently, virtual reality in real estate is focusing on more expensive projects, but the article thinks it will be plausible that early adopters of this technology will begin to set a trend that could change the way we shop for housing in the future. Although virtual reality is likely to become mainstream one day, no-one can predict when this will happen as the technology is continually improving and as hardware becomes more accessible. Virtual reality definitely has to be preferable to people taking expensive trips to find their dream property, relying only on a few carefully chosen photos and floor plans.

Allison Halliday is a Realty Biz News contributing writer. She handles International Real Estate and is a seasoned blogger.
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