Virtual Reality is Now a Part of Real Estate

One of the industries that has been at the forefront of utilising virtual technology has been the real estate industry. With major advancements in technology that allow for potential homebuyers to inspect a property before seeing it in person, agents and prospective buyers are able to save valuable time and money.

Anyone who has bought or rented a property in the past few years has more than likely experienced the convenience of using virtual reality and the internet to inspect potential properties. You can fully inspect a listing from your lounge or bed room by scrolling through all of the properties in your desired area and picking the listing that catches your eye.

You can then inspect the property online, taking a virtual tour of the listing and gaining a near-perfect idea of what the home is like: its size, standard, if it needs any work done. All this can be done from the click of a button.

A prospective buyer also benefits greatly from virtual reality as they can not only inspect the property but also the property’s information without having to contact the agent. They can see the location, nearby shopping centres, parks, schools and other hotspots.

Studies show that with over 80% of people now searching for property online, the real estate industry has benefited greatly from virtual reality. Advancements in technology, such as 3D rendering, have made virtual inspections for people incredibly advanced, which in turn makes online marketing an incredibly important selling point for real estate agents.

Not only this, but by being able to take an online tour, it saves a potential buyer from having to inspect the property in person. It allows for realtors and potential buyers to pre-qualify for the property before even seeing it in person, saving time and money for both parties.

With virtual technology you can even design and hold showings for properties that have not yet been been built – saving the need to build costly model homes for inspections.

The industry has benefited greatly from these new advancements, and it is predicted that by 2025, virtual reality will be an $80 billion USD industry.

The industry has really benefited from advancements in virtual reality, and if you have been involved in finding a property in the past five years, you would have experienced this too.


Share this: