(MENAFN- Khaleej Times) Virtual reality is becoming a trending topic and has been associated mainly with gaming during its inception, but as the technology is undergoing rapid progress, it's been adapted in many other industries. In healthcare, it's helping treat social anxieties in patients while in the automotive industry, it is being used to get a sense of how customers experience their cars.
Virtual reality is making an active contribution in all sectors. For instance, museums are embracing this technology to virtually transport visitors to historical places and cities that no more exist. While major tech companies such as Facebook, Google, Microsoft, Samsung and others are working to implement this technology in all possible sectors, in real estate, it has been warmly welcomed and is already making a difference.
Real estate companies and professionals are adapting to virtual reality to stay ahead of competition and allow prospective buyers to experience the property without being physically present. In case of off-plan property, buyers can experience a feel of the space even before construction has started, giving them a better understanding of floor plans and layouts.
Conventionally, the only way to present a property to potential buyers is through pictures and the scope of this method is limited. Pictures provide an inadequate view of the property. Buyers spend a lot of time researching for their property of choice online on portals and broker websites. Viewing shortlisted properties involves a significant amount of time and effort and even with high-resolution photos, the experience is not the same as physically viewing the property.
Sales efficiency
Virtual reality is set to significantly change this as it offers the possibility to virtually visit a lot more homes in a lot less time. It provides buyers an almost same view of the property as being physically present. This saves time and effort for buyers and helps real estate agents increase sales efficiency.
The technology is simple to use and is becoming affordable, with more tech companies entering the market. Buyers can strap on a headset and virtually explore the property captured by a special camera that creates a 3D rendition, allowing users to get unobstructed view from all angles. Virtual reality when layered with augmented reality provides users the ability to place 3D models of their favourite furniture and customise the property with elements of their choice.
These technologies make it easy to judge if the property dimensions will fit the user's family requirements or in case of commercial real estate, if it meets the business requirements before they decide to buy or rent. For off-plan properties, virtual reality works as a time machine that takes you in the future to show how the space will look like once it's ready and customised as per your taste and choice.
Real estate is rapidly adopting technology and in the next two decades, we will be living in a different society altogether. Technologies such as 3D printing, robotics in construction and driverless cars will change the infrastructure around us. While these technologies will change how we build and manage our homes, virtual reality will change how we view properties before buying.
The benefits of adding virtual reality to real estate business are immense but many believe this technology is primarily for the ultra luxury segment of property. This is true to some extent today, however in the next few years, it will become a household concept. All technologies that are now an intrinsic part of our lives were difficult to purchase when introduced but slowly they became accessible to everyone.
In the real estate industry, virtual reality is on the verge of going mainstream. One can safely predict that it'll become the most important tool in selling real estate in the near future.
The writer is online marketing manager at Aston Pearl Real Estate. Views expressed are his own and do not reflect the newspaper's policies.
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