Virtual Reality making Real Estate Predictable

Ajish Prakash on January 25, 2019

For a big number of people, virtual reality has its association with entertainment and video games. While it is true that virtual reality seems to have great implications in the world of entertainment, this technology also shows great prospects in the world of real estate.

You may have heard quite often that real estate is all about the location. However, most of the times, it turns out that the location is way too far away for a prospective buyer to travel to. Another common problem is the inability to sync calendars with a prospective buyer, to take them through a walkthrough of the location. This process often ends up taking days or even weeks.

Since a great portion of the real estate market is making its way to the internet, it is getting even more difficult for brokers and agents to arrange location visits for the prospective buyers.

However, virtual reality offers a very promising solution to this problem. That is, to enable a buyer to get a 360-degree virtual yet the immersive experience of the property/location via the use of a virtual reality headset. Sounds amazing, doesn’t it? Well, this application of virtual reality in the real estate market takes out all the guesswork that buyers have to do with respect to the location.

Atop that, this application of virtual reality also solves a wide array of problems that often occur in the real estate industry.

For instance, buyers usually prefer to visit a number of different properties and locations before settling for the one that they want. This, however, takes plenty of time and gives rise to a number of other complications.

The virtual tours of a property, in this case, can save a lot of traveling time and costs. In general, there are two types of 3d virtual location tours.

* Guided visits

* Interactive visits

The guided visits are similar to the plain old promotional videos with the difference that they are either in the form of a 360 degrees video or are fully virtual. Guides visits are quite easy to arrange as all you need is a 360 degrees camera to capture the video. Atop that, there is no need for complex programming or rendering. Although, you will have to provide a virtual reality headset to your prospective buyers.

Interactive visits, on the other hand, allow visitors to choose where they want to move within a certain virtual location or a property. They can do this by clicking hotspots in their field of view. The creation of such a tour is rather complicated. However, they happen to be interactive in nature and hence, are considered more efficient in convincing buyers.

The biggest benefit for virtual reality technology in the real estate industry is that it saves plenty of time and cost. Atop that, virtual tours allow prospective buyers to visualize each property and empty rooms full of furniture. This helps in building a better emotional connection rather than a plain old visit of an empty house, for instance.

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