The Real Estate IN VR – the top 3 things you need to know!
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The Real Estate IN VR – the top 3 things you need to know! The Real Estate IN VR – the top 3 things you need to know!
28 June 2017

Fast forward to 2017, and VR has definitely moved past its love affair with the gaming industry and is no longer a product or experience that the innovators falling under the law of diffusion of innovationstand by. In fact, the penetration of VR has reached to an extent where it has even moved past the stage of early adopters and moving towards acquiring the minds, hearts and wallets of the early majority.

As is the case with any product which reaches its stage of growth and eventually maturity, the present experimentation in the field of VR is no longer occurring with the technology itself, but with its possible uses. The place where VR has quite surprisingly or unsurprisingly taken flight is real estate.

  • 1.VR puts you in the middle of the action

House hunting is all about the experience, you cannot expect to find the perfect abode without stepping foot into the building and feeling like ‘this is it’. With the hundreds of classified websites that have popped up in recent years, prospective home owners and tenants have resorted to checking out images of places and closing the deal online which unfortunately leads to dissatisfying results later. VR however, puts you in the centre of the action. Just pop up a pair of the latest gear and in the blink of an eye, you will be witnessing the place you may call home in the future.

  • 2.VR customizes the house hunting experience for ‘YOU’

The arrival of virtual staging technology enables users to add their personal taste and flavours to each and every property they visit. This is a revolution in the industry, to say the least – even the smallest unique and personal touch can spark up a place like no other. Who knows, a piece of furniture or new lighting can change customer decision in a jiffy and that too in your favour!

  • 3.VR is here to stay

VR is the disruptive innovation which has already taken the real estate industry by storm. The production of a house hunting experience, coupled with the ability to customize and control each and every bit of this element is not to be taken lightly if you’re a part of the real estate industry but are yet to plan your move into the arena.

If house hunters and prospective tenants continue to make their final deals based on the virtual representation of their heavenly abode, then they need to plan out traditional open-house visits will vanish before you know it!

What does it mean for the industry?

As prospective home owners continue to have a sparking demand for inspecting properties through VR, they need to physically inspect the house, at least during the initial stages will become less and less popular. As a realtor, you may have to think out of the box to attract clients and make them agree to come out and check out the property if they’re hooked onto the VR experience of exploring real estate.