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How Real Estate Industry is Transforming with the Implementation of Virtual Reality?

By Tanuja A Akkannavar

Virtual Reality (VR) is one of the most significant technological breakthroughs of the century. People can replicate their interactions using virtual reality by creating a realistic virtual version of the world and even interacting with it in real-time. Automation, healthcare, retail, travel, and entertainment are only a few of the technically advanced industries which are already utilizing virtual reality to transform their customers' experiences. The real estate industry, on the other hand, have seen some of the most popular VR applications.

Real estate solutions focused on virtual reality technologies are not only helpful to customers but also assist companies in growing their businesses and obtaining the highest number of businesses and conversions. This has allowed real estate agents to provide high-quality services, according to the adoption of technology. Following are some of the potential benefits a company can gain by implementing Virtual Reality –

1. Virtual Reality –
Real estate images on an online website are important parts of comprehensive approaches. Property can be viewed in three dimensions using virtual reality, these interactive tours include a 3D walkthrough, allowing viewers to see a room as though they were physically there. This form of virtual reality technology could make it easier for potential buyers to get a better feel for a property before attending an open house.

2. Virtual Staging –
Real estate agents may also use virtual reality to connect furniture and other important objects to a property to make it more attractive and relaxing for potential buyers. Recently, staging has been an important aspect of the real estate industry, and it is commonly used when posting pictures of a property to a website. This can be made more realistic using virtual reality technology.

3. Architecture –
It's difficult to market assets that have not even been developed yet. Real estate agents may use virtual reality to show client’s virtual architectural visualizations of a property before it is built, giving them an interactive indoor and outdoor view of the property.

4. Virtual Commerce –
A benefit of virtual staging is that it saves time. It can also encourage virtual commerce, in addition to making a premium and long-lasting impact on potential buyers. When displaying home and creating a 3D tour, realtors can easily incorporate a buying option into any aspect. Clients may personalize the room to their liking.

5. Engagement –
Potential customers can virtually experience a property before it is finished, giving them a good idea of how it will look once it is completed. Any improvements or concerns may be communicated at this time to further minimize the number of change orders and related costs. If desired, buyers could engage in virtual trial-and-error rounds.

Future of Virtual Reality in Real Estate
There will be more on virtual reality and how it can be used in the real estate industry in the future. Virtual reality could be considered a disruptive technology because of how it alters the experience of investors, buyers, and sellers during various stages of construction and property sales. Open houses will become obsolete in the future, as people will be able to obtain all of the information they need on a property from the comfort of their own homes.

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