Contact us anytime to know more — Abhishek P., Founder & CFO CISIN
But at present, there are massive game changers that are already transforming the entire functionality of the real estate industry.
Augmented Reality and Virtual Reality allow the real estate agents to easily grow their own businesses, achieve more leads and get more clients and offer best-in-class services. As mobile applications and websites are becoming the best source of providing information to the users in a seamless fashion, real estate app development services are now inculcating these immersive technologies in their own real-estate apps as well as real estate sites.
These reality technologies have so much to offer to the entire real estate market and hence, let's look at the applications of both of these cutting-edge technologies in the context of real estate sites.
Application of Augmented Reality or (AR) in Real Estate
1. 3D Modelling of Real Estate Property
Augmented Reality is currently being utilized by real estate professionals in order to bring conventional, flat print materials like blueprints as well as photos to life in front of their customers.
For instance, by utilizing AR, a realtor can pop up an aesthetically appealing life-like 3D model of the house or apartment, which is completely interactive.
This model is similar to a hologram, but the clients can easily modify different features of the house, like paint color, and even try out various pieces of décor and furniture to scale in their own digital house replica.
Augmented Reality app development helps realtors to provide a seamless medium to showcase this digital house replica to their buyers.
2. Offering Vision of Property Under Construction
Augmented Reality also offers a great unique opportunity for different levels of the entire real estate industry.
Realtors believe that AR offers great value right from the earlier stages of an ongoing construction project to the final sale of the real estate and marketing tools whenever selling a particular property.
3. Interactive Home Models
Both developers and investors are currently utilizing this advanced technology to create interactive, life-like house models which essentially accurately demonstrate the entire construction as well as renovation plans in such a method that photos, as well as blueprints, could never ever give the idea to the buyers.
Also, the ability for the buyers to easily interact with these different 3D models has proven to be a great ROI for the different real estate firms.
4. Enhanced Personalized Experience
Augmented Reality actually sculpts in providing end-to-end solutions for different use cases. Essentially, AR provides a personalized and enhanced experience to the different prospective home buyers, who can now view any potential construction or building project transformed into their own homes with their own personal touches as well as customizations, all done before the start of the buying process.
When it comes to visualization, most of the real estate agencies struggle with the catalog. The various setbacks with all of the tools are quite common.
For instance, print text descriptions of a property inform buyers. Even though photo ads are a bit better, the realtors can't show the whole realistic picture of the property. Even though 3D models on mobile as well as desktop apps are interactive, they certainly lack full presentation.
Finally, visiting each of the sites with the customers is too time-consuming for the realtors.
5. Augmented Reality Tools and AR mobile apps
AR app development solutions for real estate, such as Augmented reality tools as well as AR mobile apps, considerably help in tackling the above-mentioned issues.
With a simple button touch, the clients are capable of viewing all-angle AR models of a particular property, house, or apartment of their own interest. It doesn't need to leave home or the office. They can simply browse, compare as well as analyze different houses, flats, or offices in much greater detail.
Want More Information About Our Services? Talk to Our Consultants!
Advantages of Augmented Reality in Real Estate
Most people adore everything innovative, entertaining, and similar to sci-fi. You can fully utilize their interest with these innovative tools in order to advertise your real estate properties.
- Print catalogs, along with big boards with Augmented Reality, are much more interactive.
- Also, geotags can easily assist in locating your property on sale in the real world, which allows customers to discover by themselves.
- Animated "Contact Us," as well as other types of call-to-action buttons, are quite interactive and easy to use.
- Augmented Reality visualization essentially works much better than either videos or photos with a text description. It allows accurate visualization of large buildings through various augmented 3D models.
- Since AR technology is quite fascinating and entertaining in general, it has a better chance to deal with engaged potential customers and finally turn them into actual customers buying the properties. AR in real estate helps in achieving better engagement which opens up new avenues for any real estate app development company.
Application of Virtual Reality or (VR) in the Real Estate
Virtual Reality, in general, is associated with video games as well as entertainment for most people. However, this particular technology has massive potential in the entire real estate industry.
Here are some of the applications of VR in this domain.
1. Access to Virtual Property Showcases
Generally, customers visit different properties before they actually decide which one to buy. It requires a lot of time, and oftentimes, the things get complicated due to various uncontrollable circumstances.
In this case, the entire exercise of visiting properties isn't just time-consuming but can be quite expensive.
In this regard, VR assists in solving these problems by allowing people to visit these properties without even leaving their own homes virtually.
Just put on a VR headset, and you can easily experience many immersive, 3D walkthroughs of the entire property. Within a few minutes, potential buyers can easily visit multiple locations virtually and decide which one is actually worth visiting in person.
2. Provision of Virtual Staging
Showing an empty apartment or house with no or a few pieces of furniture won't leave a good impact on the potential buyers.
If the same apartment or house is full of furniture and appears cozy as well as appealing, then it will certainly attract the buyers. Staging is a particularly great way to market real estate properties. It does need investment, especially if you are selling a brand new property.
VR technology is a particularly great way for real estate agents to market different staged properties with quite a small investment.
VR along with Artificial Intelligence solutions which determine the likings of the customers and fill the VR experience with the corresponding furniture and create 3D real estate tours, make it easier to obtain staged properties that clients can check out.
3. In-depth Architectural Visualization
It is difficult to market a property that hasn't been constructed for the real estate agents and developers. However, three-dimensional models which showcase a new property or an entire neighborhood help the potential buyers to imagine the entire architecture.
In case of interiors of the ongoing constructions, realtors create large showrooms which have full-scale models of their apartments. This marketing method requires a considerable amount of investment.
However, virtual Reality can easily solve this particular problem and even allow potential customers to check out both the interior and exterior of properties under construction industry, carefully.
Due to VR, the entire architectural visualization has certainly become quite cheaper as well as more immersive. Also, IoT application development can help the realtors to obtain necessary data regarding the ongoing construction sites and inculcate it in the VR experience.
4. Possibilities of Virtual Commerce
Virtual Reality for real estate comes with commerce. We have already mentioned 3D home tours along with staging, but imagine that clients wish to make the changes to what they are seeing.
A homebuyer, for instance, who is taking a 3D real estate tour wishes to make changes to the interior, can go to any online store, choose a piece of particular furniture, and easily add it to their own tour.
Making such changes allow the buyer to style the property as per their preferences. Even if the client doesn't make the changes, he or she might be interested in purchasing different pieces of furniture, along with curtains as well as other items which are essentially showcased in their virtual tour.
They can immediately go to a virtual store and order those particular pieces.
Read More: What Expenses Are Involved In The Development Of A Real Estate Apps?
Advantages of VR Technology in Real Estate
Even though we know some of the practical utilization of virtual Reality in this industry, there are some of the key advantages that should be looked upon.
- Saving the time of both clients as well as realtors is probably the biggest advantage of virtual reality solutions. Owing to VR, there isn't any requirement to travel from one particular property to the other. Rather, clients can just put on any VR headset and enjoy the entire immersive 3D tours.
The usage of virtual Reality in this industry means that all of the listed properties are always open for the clients.
With the assistance of VR headsets, the clients can visit the apartments and houses literally at any time, without having the realtors spend their valuable time.
- Virtual tours of apartments and houses assist the clients in visualizing each and every property. Unlike conventional visits where everyone is in a bit of a hurry, the clients can take the entire virtual reality home tour at any time which is convenient for them and easily focus their own attention on the property's details. Due to the fully immersive experience of virtual house tours, it develops an emotional connection as well as engages clients quite a lot more efficiently than traditional 2D images.
- Pushing clients towards making a bid or purchase is the most challenging task for any real estate agent. This is where Virtual reality home tours come quite in handy as they allow the clients to easily visit properties virtually whenever they wish and for as long as they desire to. It establishes a certain sense of personal connection as well as ownership. A real estate application development company can enhance the customer experience by developing virtual tours with quite some interactive add-ons like information regarding similar properties, mortgage calculators, description of the neighborhood and much more. It helps the clients to receive all the information they require about the properties before they contact the realtors and ask for arranging real site visits of apartments or houses they like the most.
Augmented Reality: How it is helping the Real Estate Industry
To purchase a property, you will need to visit a realtor in order to obtain the property listings. You can also go on property tours.
While buying a property should be fun, it can also be tedious if you do it the old-fashioned way. It is not fun to go through numerous listings and visit countless places before you make a decision.
Augmented Reality is now available in real estate.
AR has inspired builders and realtors to move towards the digital age. They can offer a better customer experience, and increase their conversion rate.
AR allows clients to view multiple properties in just a few clicks. They can also tour these properties from their own space. AR teleportation is a time- and energy-saving tool that saves you valuable time, money, and effort.
Real Estate: Best Use Cases of AR
As the industry shifts to online, AR applications have increased in real estate. AR can be used for many purposes today, including interior design, construction and facility management.
Virtual Tours
Customers can view virtual tours from their homes, which makes it convenient for them to get a feel for the house they are interested in.
AR Tours allow you to visualize any property that is for sale, whether it's still in its design phase or built.
AR is a great tool for proposing and reviewing renovations. AR offers a wealth of options for interior designers and construction contractors to share imagery that looks authentic, with as many details as they need.
Although virtual property tours were common before the pandemic it was not uncommon for people to visit a property in person.
This mindset has changed. Many buyers now use virtual property tours before visiting a home in person.
Remote Maintenance
It can be difficult to manage multiple properties and travel long distances to meet all their clients' needs. AR can be used to create a digital 3D model for such properties by a property manager.
Tenants can report any problems with their smartphones, such as a leaking pipe, to the manager. The manager will then create a virtual simulation of the property.
Maintenance workers can quickly and accurately solve the problem by using this information.
Sell Vision
Augmented Reality can be used by real estate developers to transform their dream designs into fully functioning properties.
These digital 3D prototypes can be used to help potential buyers and tenants visualize the design better. AR allows real estate developers to communicate with their audiences more effectively than ever.
AR Real Estate Future Growth Prospects
Many business processes in a wide range of industries, including healthcare, manufacturing, energy, have realized the potential of this technology and decided to incorporate it into their business operations.
This technology is already being adopted by the real estate industry. We can expect an increase in AR/VR in the real-estate market, given that investors continue to invest in property-related technology.
Conclusion
The real estate industry has been undergoing massive transformation over the years. With real estate app development services bringing different real estate apps to cater to the demand of the homebuyers, there is a scope of inculcating latest technologies.
In this regard, Augmented Reality and Virtual Reality have much to offer. They provide an immersive and interactive experience to the clients. It makes it easier for potential buyers to know about the layout and architecture of under-construction properties.
It allows them to view the apartments and houses assorted with different furniture, curtains, paint colors etc.
Due to 3D virtual tours, the clients can visit the site through VR headsets and look around. Augmented Reality allows the clients to view the completed outlook of the under-construction properties.
It also allows the clients to see the final product of renovating properties. It improves the marketing materials, and 3D models help the clients to visualize the property without even its completion.
With a plethora of advantages of both the technologies, a real estate app development company should invest in inculcating these technologies in their app.
