How Will AR and VR Change Real Estate?

Real Estate Technology

Deciphering AR and VR in Real EstateThis article was originally published on the Home Value Leads blog.

AR...VR... As a real estate agent, you may have heard about or read tons about these two technologies. They may seem like science fiction, but as you can already tell, they are starting to take over a number of industries by storm, including real estate. Let's take a look at what exactly AR and VR, well, ARE and then see just how they are currently or will make an impact on the your livelihood.

What is AR and VR?

There is a big difference, and it all depends on the "level" of reality that a person experiences. AR stands for "augmented reality". It entails superimposing computer-generated images over the real world, bringing together the virtual and actual world. A good example of this is Pokemon Go. When you look through your phone, you could see the characters wherever you go. VR stands for "virtual reality". The technology goes much deeper than AR by immersing the person in a virtual 3D world. When you look through the lens of a special helmet or wear special gloves, for example, you are no longer seeing or interacting with the real world but rather the computer-generated world you are seeing.

AR and VR in the Real Estate World

As you can probably guess, AR and VR have some pretty awesome implications for the world of real estate. The most obvious include the ability for buyers to, for example, visualize furniture in a room with different styles using AR. The same buyer using a special headset can view and "interact" with the virtual world of a house on the other side of the country to "see" it without setting foot in the house. Forbes recently came out with an article discussing eight ways that AR and VR are growing steadily in their impact on real estate. Definitely check out the article for more details, but here is a summary of the top five that we thought you'd find the most interesting as agents.

  1. Time saver for real estate agents and clients
  2. As we mentioned, tours of properties without having to be there
  3. Pre-sale possibilities as clients see a property before a builder or remodeler completes the project
  4. Fewer showings for buyers to have to make
  5. Enhancement of real estate agents' role

Should you use AR and VR in your business? Understanding technology like AR and VR in the real estate industry is a great start for you as an agent to get involved.


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