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How AR/VR Are Transforming the Real Estate Industry

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What’s the first thing that comes to mind when you think of augmented reality (AR) or virtual reality (VR) ? For most, AR/VR technologies are commonly associated with industries like gaming, entertainment and media ;(like those cool Instagram filters or the iPhone’s Animoji feature that animates your facial expressions with emojis). But this immersive technology also has major tangible benefits in the real world, outside of the realm of social media and video games.

AR and VR are rapidly gaining traction in almost every industry today and are transforming the way that businesses function. The real estate industry is a prime example of how AR/VR are rebuilding the foundations of a sizable industry. From virtual property staging to property showcasing, this technology is taking over the entire spectrum of transactions taking place within the real estate sphere. A survey conducted by the National Association of Realtors divulged that 73% of clients are looking for new homes and properties by using a mobile website or app. As a result, there is great potential in harnessing innovative AR/VR technologies to amplify the consumer experience.

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Halstead Property, a real estate firm based in New York, was one of the first to foster collaboration between VR and property sales through the introduction of VR headsets and 3D guided displays in its offices. Potential buyers can use the VR headsets to gain access to a “live” virtual tour of a property or home without being physically present and to access a virtual rendering of a home based on the blueprint, even before the home has been approved and built. With the help of these VR headsets, Halstead Property is making house hunting more time- and cost-efficient by providing its customers with an interactive experience in their future houses without ever having to leave their home. Matter, a company based in Israel, helps similar firms to create interactive property tours.

In addition, VR allows real estate agents and brokerage firms to stage properties and create 3D guided tours for home buyers. While staging new homes is usually considered a heavy investment for agents, virtual staging services allow these firms to showcase their property in its best light without having to undertake a significant investment. Rooomy is a virtual staging service that uses virtual reality to stage homes for individual buyers, saving the brokerage firm thousands of dollars and valuable listing time to streamline the house hunting process. AmbiensVR also creates VR experiences to bridge the communication gap between customers and interior designers. We also already described in depth how other companies, like IKEA and Wayfair, allow customers to view different interior furniture settings using AR technology, standing as a testament to how AR helps to significantly remove the visualization barrier that often comes in the way of the sale of furniture as well as properties.

Source: https://arvrjourney.com/how-ar-vr-are-transforming-the-real-estate-industry-73098df2901f?source=rss—-d01820283d6d—4

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