How Is Augmented Reality Reshaping The Real Estate Sector?

How Is Augmented Reality Reshaping The Real Estate Sector?

Augmented Reality is the integration of digital elements into the real-world environment. In other words, we can call it a combination of both real and virtual worlds. The advanced technology of AR is gaining traction in almost every industry and the real estate sector doesn’t seem to be an exception. Some agencies have already started using Augmented Reality in various unique ways, from refreshing their print catalogs to interactive demonstrations at installation and on a phone screen. The AR technology is more like a filter that alters the way people perceive the world around them. AR users are unbounded from a purely digital environment; they can walk around and interact with the physical world while still viewing digital elements.

Augmented reality (AR) takes a little modest approach by layering digitally created elements over the actual world. This can be accomplished through the use of special wearable devices, like glasses or headsets, that project a digital image onto the lens, or by inserting those same elements into a camera image, like a smartphone screen.

When implemented in real-estate, AR tools and gadgets can produce an enhanced version of reality to add digital information on top of a captured image or video. The real property comes alive just as you scan the catalog or the ad in a newspaper. Apart from going through each room, they can even gauge the surroundings and the neighborhoods without actually visiting that specific property. The prospects can get a 360-degree view of the property including groceries and places of prominence nearby, the direction and facing of the property, and other similar details. There is no necessity to take a break out of a hectic schedule and endure a long drive just to see the property. This is just an overview of how AR is changing the real-estate sector. In this blog, we will explain in great detail the impact of augmented reality in the real-estate sector.

Augmented Reality In Real-Estate

With technologies such as Augmented Reality, Virtual reality, property developers can showcase a 3D, 360°, lifelike view of their properties via virtual tours of the construction projects, both inside and outside. The blueprint of the house will come to life and the customer can now experience the house they want to buy, virtually.

With the help of AR tools, real-estate issues can be resolved efficiently. At a single touch, clients can view the property of their choice from all angles. Without leaving the office or home, they may browse, compare, and analyze flats/houses/offices as per their preferences and interests. Moreover, they can also link with it experiencing an ‘almost-exact’ feeling. It is an improved version of reality to add digital information on top of a captured image or video. Last year Redfin conducted a study on virtual property tours and they found out that one out of our five customers would buy a home they have not visited physically.

Benefits of AR in Real-Estate Applications

Immersive technologies such as Augmented and Virtual Realities (AR/VR) can drastically improve this index by providing convenience and enhanced experiences to buyers, agents, and sellers alike. AR/VR can save considerable time and expenditure not only for potential renters or buyers but also for sellers and realtors during times of potential downturn where buyer-to-seller and buyer-to-agent ratios drop significantly.

Thanks to immersive tech, potential buyers can soon be able to move freely in their future residence or office virtually, just by watching an AR representation of it on their smartphones or tablets. And perhaps, this might just be the key to harnessing immediate success in the real estate market in today’s highly volatile market.

Here are some benefits of implementing Augmented Reality in real-estate app development:

Virtual Tours Of Properties

With AR/VR platforms, buyers can tour apartments and other properties through their mobile devices without visiting the actual location. They can record presentations, clarify doubts, and make notes to help them make the buying decision.

Time Saving

AR/VR agents consider real-estate applications as one of the greatest innovations as their work has become a lot simplified. Using AR applications, realtors, and agents are always aware when any potential client is viewing their property or their location.

Location Visibility

GPS functionality enables clients to evaluate the proximity of the new property with respect to their current location. It helps them understand

Immersive Property Views

Real-estate apps with AR/VR allow buyers to see properties in a three-dimensional view. It helps the potential clients to experience the real look and feel of the property to make an informed decision.

Intangible Products Become Alive

Since the clients can view the properties in 3D, the need to visit the locations is eliminated. As apartments, buildings, and other properties become alive in your mobile devices, the sales time is reduced, and the pre-sells increase simultaneously.

Improved Decision-Making Process

AR platforms enhance the customer experience that has a direct impact on the decision-making process. When clients explore properties using AR apps, they narrow down their choices based upon their preferences and interests. It saves their time and cost of traveling to different places to experience an inside out feel. Therefore, the decision-making process is quick as well as more informed.

Effective Marketing

AR-enabled real-estate applications serve as an effective marketing tool. When you showcase freshly added properties to investors now and then, they are motivated to invest and buy properties regularly even when they are not planning to. Moreover, with features like geofencing, realtors can target the right audience for their marketing campaigns.

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Augmented reality is not an alien concept anymore. If you look around and observe carefully, you will find out that a lot of businesses are already harnessing the power of such advanced technologies individually and in combination too. With the real-estate sector emphasizing on the importance of memorable customer experience more than ever, it is imperative to use AR/VR in real-estate solutions.

Book a free consultation with our experts to learn more about the applications of Augmented Reality, Virtual Reality, IoT, and other advanced technologies in your industry.

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