The advancement of virtual reality is no longer just in the video game industry. It has now expanded into other industries, including real estate. Potential buyers can now tour a home, fully furnished without even stepping into the physical door. This advancement is changing the way agents and buyers are viewing and selling properties.
VR is expected to change the way buyers purchase homes in multiple ways. The biggest foreseen change in the process would be the amount of time spent showing homes. An agent can now show homes without even leaving their office. An advantage to this would be that an agent can show more options to their buyers without driving to each individual property.
Whether the viewing is a 3D rendering of a future building or it is an augmented room that was digitally designed, it gives the overall market more clarity during any point of the buying or selling process. As well, buyers can view more properties and narrow their options sooner. This will allow buyers to select locations that they feel will ultimately suit them best.
Another industry shift is the internal communication between those who design and construct properties and the investors or project managers. Designers, architects, and engineers will now have the ability create a design that anybody can view through virtual reality technology before it even begins construction. This new technology will create effective and stronger relationships in various aspects of the real estate market.
This shift of the way agents show properties will have many different results. The greatest result from this will be that clients will have stronger relationships with their agents. As well, satisfaction of their home and the satisfaction of the time spent will be drastically improved. Virtual Reality will inevitably save time during an entire home buying process. Engagement online is expected to shoot up to 300% with the adoption of VR.
The reason why VR is becoming so popular is because it is interactive for the user and has a personalized experience. It is going to add another element in the process of the buying and selling experience. Of course, both an agent and buyer will need a proper physical tour before purchasing a property but VR can help both the agent and the buyer get an idea of what the client wants from the experience. Time and distance are now two factors that slowed down the property purchasing experience for buyers. With VR, these factors will no longer slow down a home buying experience.
Check out an example of what a virtual reality tour in the real estate market could look like: