How Virtual Reality is transforming Real Estate Industry

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The real estate industry has hyped up after the assistance of the virtual reality, which has helped the buyer and the seller both in case of visiting the property and to connect both the parties who are geographically far apart. Virtual reality is the new advanced technology of making it possible to travel from place to place even when one is still at a place. The main idea of virtual reality is to give the customer an HD (HighDefinition) experience of visiting a place without even moving from his place. Virtual reality has helped many industries to bloom in days with better experience, transforming the old and traditional way of business.

With the help of virtual reality, it has become possible for the buyers to visit the property or have a look at how the estate might look making it easy for not just the buyers but also for the sellers / real estate agents to show the house property at their convenience.

The old traditional method of buying and selling of property used to happen when the buyer and seller meets in person and visits the property. The process includes huge formalities from searching from ways to actually visiting the place. The buyer used to decide the area to shift in and then they contact the local real estate agents of the area and then take priop approval of the property seller for visit. The seller needs to be available for visit and accordingly the buyer and agents had to decide for the same. Also the agents and buyer needed to keep knowledge of the availability of keys of the flat / property, so as to avoid inconvenience.

This is probably the biggest benefit - virtual reality solutions save time for both clients and realtors. Thanks to VR, there's no need to travel from one property to another and sit in traffic jams.

How Virtual reality could help the real estate industry / Why one prefers VR over traditional method : With the help of VR it has helped to save time, energy and money of both the parties. ? Saves time : It has become easy for the buyer and seller to not search for directions to property. ? Saves Money : travelling cost of both the parties could be saved with the help of VR experience. ? Saves energy : So as it has become easy to visit the property sitting at one's home itself at one's convenience it helps save enery. Types of Virtual Tours : There are currently 2 types of virtual tours ? Interactive Visits : This kind of experience is for as to when the buyer can actively interact with all the areas of the property as this kind of visit helps one to look and experience in detail all the areas which the buyer wishes to visit. In short Interactive type of visit helps the buyer to control his experience of visit. ? Guided Visits : This kind of tours usually exists for as a video format with a 3d effect with it so as the buyer can visit all the recorded portions of the property. What is Architectural Visualization ? There are a lot many properties / building still working in progress of construction. It becomes difficult for the seller / builder to showcase their 'Not yet developed' project which is still under construction, in this case it becomes very expensive if Architectural Visualization wouldn't have been made available. Architectural Visualization is really cheap and has made it easy and possible for the seller to present their work / project with better visualization effect. This way the client gets a proper view of what is offered to them.

What is Virtual Commerce ? As discussed above it proves that everything is possible from visiting places by just sitting at one's home. A person from a foreign country could visit any property staying at home. (Example, a person from Dubai, could visit a property in India with the help of VR assistance) Now imagine visiting a property, which has furniture in it, you like the property but are not satisfied with the interior design, what could be possible here? You can simply go to a virtual store and replace the furniture or designs you are not satisfied with, Yes it's possible. This is the idea of Virtual Commerce. This helps the client / buyer to visit the property and design the property just by visiting the virtual store and get a perfect view of how actually your property will look like when designed by self.

Final thoughts

Virtual Reality has already started evolution in the real estate industry making lives of people easier to visualize how their home/property would look like without stepping out of their homes or actually visiting it.