When you think of technology and real estate, the last thing that may come to your mind is an AR app mimicking the gameplay of Pokemon Go allowing you to find new apartments in your area.
Sounds a tad too unrealistic? Well, it’s just a fundamental example of how the real estate market is taking benefits of the augmented reality technology.
AR is something more than Pokemon Go
All thanks to the Pokemon Go game, 2016 seemed to be the year when the world finally paid attention to the AR technology.
Unlike the fully immersive virtual reality technology, augmented reality aims to make the world around you cooler than it already is.
AR is when digital information’s overlaid onto the actual physical world. The below image should clear things up:
How is the real estate world working with the augmented reality technology?
Whether it is an app on the tab or the phone, AR provides real estate professionals with the ability to showcase buildings, apartments, and properties from a 3-dimensional point of view.
With the simple tap of a button, clients will be able to visualize alterations to a property by modifying wall colors or by adding a furniture piece from the AR point of view.
Benefits of augmented reality in the real estate market
- It’s time-saving
One of the changes that real estate agents welcome is making the property exhibiting process easier and seamless for their clients.
Augmented reality is going to be a game-changer in this respect allowing potential buyers to “experience” the property at another level saving a lot of time in the process.
- AR can help to unlock international investment opportunities
AR will make it possible for realtors to reach out on a global scale and create an increase in foreign investments.
After all, this is the future of the real estate market, and soon customers will be able to take a detailed look at properties in London while having lunch in Brazil.
- AR helps in adding reality to property listings
As a developer, it is often difficult to have a prospective customer visualize the end product.
This results in longer sales times, leaving funds stuck in projects. With augmented reality, you will now be able to show the end product to the buyer in advance, thus, adding a level of tangibility and increasing the chances of pre-selling projects.
Most experts in the real estate market expect AR to have a significant impact on the industry in the next five years.
Whether it’s used as means to service a prospective customer looking for property or to help a realtor showcasing a location, AR will certainly have a revolutionary impact on how business is done in the real estate world.
To know more about the intricate connection between real estate and augmented reality, refer to the infographic below: