Reasons Why VR Is Revolutionising the Real Estate Industry

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According to Goldman Sachs, the Real Estate VR industry is predicted to amass $2.6bn in 2025. Furthermore, there is a potential user base of 1.4 million registered real estate agents and an aggregate real estate commissions market of $107 billion. This is the market that VR is set to disrupt. Virtual Reality isn’t so common, but at the same time many real estate agents are already using it to gain a competitive edge and that use is only set to increase. This new tech allows buyers to almost ‘feel’ the property and helps them to really understand what living there would be like.

  • VR is inevitably time saving

Companies that have many properties in their portfolio will usually spend the lions share of their time on the road, showcasing various properties and developments to prospects and potential clients who may eventually turn their noses up – and that’s just cost a lot of money and effort.

VR Solves this unbelievably painful process by allowing people to step into developments, various homes, apartments and complexes from the comfort of their office or home.

What use to be the erroneous 4 hour drive to showcase a property suddenly becomes a mouse click away for the prospect. This could potentially save hundreds of thousands of dollars in the long term – already an intense selling point in the realms of VR.

  • Interaction

At the heart of it, VR allows home seekers and commercial buyers to see what properties would look like when they are ready to be lived in. This means that real estate companies who have projects with construction in progress can provide an accurate idea of what the homes would look like when they’re completed. From checking the amount of natural light in rooms to deciding if a particular piece of furniture would match the rest of the interiors, VR can help visualise homes from various angles and leave almost nothing to the imagination.

  • A formidable selling tool

Above all else – the biggest benefit to real estate firms looking to integrate VR into their businesses is that it’s an incredible selling and marketing tool. Firms that have already adopted VR in their real estate firms are already enjoying a boosted reputation and praise based on the additional feature to help its customers truly experience homes and developments across the world.

Many real estate firms admit that they invest a lot of money in ‘old-hat’ selling and marketing tools including exhaustive brochures, heavy print media and various other ‘old-school’ tactics which are slowly being made redundant. A lot of real estate firms are simply ‘too afraid’ to take the plunge into the world of VR through fears of not properly understanding it. We recommend that you talk to Voxel Worlds – the US leader in VR technologies in real estate, architecture and commercial developments – and let them help you find out and ascertain how VR fits into your current business model.