Will Virtual Reality Is Boon For Real Estate, Ever Rule the World?

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It is a beautiful day in Florida, with gentle ripples on the surface of the swimming pool and shadows of palm fronds subtly shifting with the breeze. You open glass pocket doors to step onto a wide porch from the great room, where a linear gas fireplace has a bed of sparkling crystals underneath the flames.

Walking through the house from the great room and the open kitchen into a large dining room and a home office, you notice high ceilings and plenty of daylight flowing into the rooms from the floor-to-ceiling windows. You admire the serene blue-and-white master bedroom and step out onto its private balcony overlooking a lake. Then you take off your headset and realize you’re in the middle of a crowded convention center surrounded by other people, not relaxing and enjoying the sunshine and the sparkling new house. Welcome to virtual reality, the future of home-buying.

VR is rising star for real estate

“Technology is changing rapidly, but we think the use of virtual reality will reshape and transform how new homes are designed, marketed and sold,”. Almost no builders are exclusively using virtual reality to market their homes, the number of them experimenting with the technology has increased exponentially in the past year. Eventually, some experts say, use of the technology may diminish the need for builders to construct real models for people to walk through — a move that can save them money and allow them to begin selling their residences sooner.

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“General serve says that 1 percent of builders have actually deployed virtual reality, while many of the rest are still trying to decide how they should deploy it,” By using VR in real estate consumers can experience a home that has yet to be built through virtual reality either by using a headset at a builder’s design center or sales center and sitting in front of a monitor or by using a cardboard headset and an app on their smartphone created for the builder. Virtual reality gives you a true sense of place, that you’ve actually walked around the room and can judge it because of the ability to see it from multiple angles.”

Diminish Modeling and Appeal for Technology

“Model homes are here to stay because people still love to touch and see a home before they buy it, but maybe eventually we’ll build one model instead of three models and use virtual reality to showcase those other floor plans,”
The virtual-reality walk-through of the model home — plus the ability to show what different options look like — generates a lot of excitement among buyers.
“We have a wait list of 50 interested buyers who have only seen the virtual model or looked at our online options,”. “The average age of our buyer is 33 and we’ve found that a lot of them enjoy gaming, so the technology appeals to them.”
“Right now we can’t get buyers into the houses or even onto the property because it’s a construction zone, so we had option of VR designers who build us a virtual-reality model that people can see in our design center or with our app,”

Research and Responds About VR in Real Estate

The company’s research has found that buyers spend a lot of time looking at photos of houses before purchasing a home. He says virtual reality is the next step beyond photos and offers a more realistic sensation of actually being in a house and seeing each item.
“The virtual-reality version of the model cost between $5,000 and $10,000, which is far less than actually building a model home, which costs $100,000 just to furnish.”
As builders begin to test virtual reality, research by the New Home Source Insights Panel, which surveys thousands of home buyers across the country, found that 75 percent of respondents had heard of virtual-reality tools for home shopping but just 14 percent had actually experienced it.

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Many respondents said they think this new technology can save them time since they could use it to whittle down the number of physical model homes they would need to visit. Some respondents pointed to the difficulty understanding how deep closets are when they see them virtually, and some say closets are left out of a tour. Trying to understand how steep the stairs are can be difficult, too. Some respondents say they experience vertigo or nausea when they use virtual-reality headsets. Some people surveyed said they feel virtual reality is disorienting, at least when they first try it.

However, many buyers said that the time saved by looking at multiple models using virtual reality and the ability to see models that have yet to be built is valuable to them. Many large communities have five or six model homes that are far apart, so some buyers prefer to see them with virtual-reality goggles instead of driving around. One in four respondents said they would be open to purchasing a home online from a virtual-reality experience, while another fourth said they would use the technology for research but not buy until they could see the home in person. Builders may need to do some marketing for their new tool with other buyers,

Future with Immersive Technology

“Shopping for a home is something most people do with other people, so the way people see virtual reality will evolve in the future,” . “Eventually it will be an immersive experience like it is now, but people will be able to experience it together instead of one at a time.”Not only is using virtual reality more cost-effective, but it also makes it easier to get feedback on local or regional home designs from local buyers without building a prototype model in each location.
As the world evolves digitally, acceptance of technology has become second nature. The same applies to Virtual technology and its application in the real estate sector. With so much potential to harness, there is a whole spectrum of possibilities that one can look forward to when they go property hunting. Certain aspects they we are eagerly looking forward to are: The ability to use virtual technology at home. Indeed, it is soon going to be possible to simply put own a VR headgear synced with your Smartphone or digital device and experience walking into a potential property while sitting the comfort of your home.

Driving across streets, cities or even countries to view properties will soon become a thing of the past when people will be able to view their options in one go at one place through virtual reality.
Another upcoming feature to look forward to is the power of touch. Till date using sight and sound were significant features attracting prospective buyers, but soon they will be able to click on the wall and change its color; take a judgement call on room layouts by actually switching between options through virtual reality. Buyers using virtual reality can use a pointer to change direction or look at something specific, This will add an extraordinary and transformative boon to prospective property buyer. An exciting time for real estate has begun. Virtual reality is literally giving wings to every prospective buyer's idea and imagination by significantly facilitating the whole process of buying and selling at every stage.

Summary

Virtual reality technology has already started to transform the real estate industry. However, so far it’s mostly just been large real estate agencies, that are providing virtual tours for some of their properties. More real estate agents are likely to follow suit and use the benefits of VR to make their work more efficient.
virtual home tours immersive and sophisticated VR experiences, there are lots of companies that can help real estate agents create them. Virtual reality is going to become a big thing, and it will transform many industries. We can say Virtual Reality is Boon for Real Estate.

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