Visual Technology a boon for the real estate industry

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There are multiple ways in which Virtual Reality is applicable in the real estate

Think it out loud, are you as a client been imagining space for ideas and ideas for space? as an architect are you still stuck on renders? Or have youas a realtor, still kept your best bet on brochure & sample flat? Then, Virtual reality is the ideal boon that is sure to interest all your buyers, designers and builders with its extensive advantages. Till almost a decade ago, real estate stakeholders had no indication that technological advancements would create a lasting impact in the ever-evolving real sector as well. Disrupting every walk of life, technology would soon become a must-have for the industry making it only better. Dramatically enough the application of new innovations like augmented reality, virtual reality, real-time experience, soon seeped in ensuring progress of the sector at breakneck speed. Right from exploring, procuring, reselling to even leasing of a commercial property; technology was creating a storm with some extraordinary and transformative innovative techniques. One such rising technology, seemingly powerful enough to revolutionize the real estate industry exponentially is, Virtual Reality. Here’s how:

Space Walk into a dream

There is something about walking into a space done up perfectly to suit your taste. Right from the kind of furniture to the fancy stencil on the wall, from the area of the room to the view from a balcony, not to forget, minuscule property features like natural and artificial lighting, placement of furniture. Virtual Reality gives clients a real-time experience of their yet to be space which they tend to enjoy with much awe yet full fervor. So much so that today, a prospective customer can reach out and touch virtual objects that seem like real objects in order to decide what suits better. Like, the ability to click on the wall and change its shade; having the option to choose from two bedroom layouts to take a judgement call. Virtual Reality gives customers quintessential envisions of what their personalized real space once done up would look like.

Visual Mobility

Apart from bringing dream properties to life, Virtual Reality also has another beneficial feature that provides clients with an immersive experience while sitting in the comfort of their own home. Gone are the days when clients had to scout through properties while driving around locations, and thus taxing themselves even before the process of hunting began. Knowing, how time is of the essence when you’re searching for space; Virtual Reality has made visualizing commercial spaces without losing any time in commuting or long distance travelling notably possible.Whether the property is located a few hundred yards away or a thousand kms away, clients just have to put on a set of virtual goggles and enjoy the place as if they are physically present there. It is possible to take a 360-degree virtual tour of properties without leaving your current space.

Competitive Advantage:

Virtual Reality is not just showcasing vantage points that are valuable for the customers but also holds points for being game-changing for the realtor. There is an influx of intense competition within the industry and therefore it is extremely vital for all kinds of players to stay relevant as well as unique in the industry in order to get noticed. Creating a connection or ensuring a better deal than others no longer holds the same bar especially when they can leverage technology while keeping everyone’s best interest in mind. Using Virtual Reality as a storyteller solution that helps engage & convert better is far better than putting your best bet on brochure & sample flat. With Communication, convenience and cooperation everything is easier and faster thus translating into greater profits for companies with better property listings.

Cost Effective

There is a major difference between giving a property presentation and showcasing the final property. Plans presented initially always go through changes until the designer is completely satisfied with the outcome. And many a time, even after the construction, things may not turn out to be the way one always expects. Now imagine the humungous costs that would be borne just to alter a minor default or an unappealing structural element. Virtual Reality captures every angle inside & out, giving full disclosure of the functionality and practicality of the design/ layout. This is extremely cost-effective and critically important to create an interesting, appealing space subsequently giving the right idea to the client.

After all, Virtual Reality is a boon and the next big thing. We have evolved from a phase where generic pictures and videos were all realtors had to offer. It has solving real-life problems through technology, innovation and design along with continually rethinking what else is possible. Virtual Technology is indeed providing us with an intriguing and fascinating way to explore a space.                                                                                                                                                                                                                                                                                                                               Authored by Shailesh Goswami, CEO & Founder, Foyr