3 Ways VR Technology Could Revolutionise the Real Estate Industry
Virtual reality technology is taking the world by storm. Every popular YouTube gaming channel can be seen using the Oculus Rift and every gaming household can expect to own an Oculus Rift by the end of the year.
Soon, reality will be virtual reality. I kid, but who wouldn’t want to live in a world with unlimited lives and profanities being shouted from all corners.
It’s no surprise that the world of gaming has been revamped with the recent success of virtual reality; an entirely new element has been added and given the gamers a fresh perspective to enjoy their favourite pastime.
Aside from the giddy gamers, there are several professional fields that are set to make major renovations in lieu of VR’s grand release into the mainstream. Doctors are arranging to integrate virtual devices into surgical training for medical students with the same being done for up and coming dentists.
While the technologies primary industry is gaming, it seems that there are advances to be made across the board. Even the most unlikely of industries could see the benefits of the new gadgetry, take for example, real estate.
That’s right, no longer will the property ladder be confined to offices or other properties, real estate is going on the road. The virtual systems that have been developed could have major implications on the realty business, here’s how.
A majority of the real estate domain is moving, well, to domains. The entire estate agent process can be performed online on sites like eMoov and CastleSmart, with virtual reality added in, buying a house is about to become a whole lot more lazy.
When a client is interested in buying a specific property the estate agent will usually arrange a viewing of said property or, in more lavish cases, host an open house. These events allow the potential buyers to walk through the home and examine the property.
Now, imagine the prospective shopper was able to view the property from the comfort of their own home. Likely it would result in a greater interest for that residence which would create a faster sale. With VR this is very possible. Clients could throw on their headsets and could be electronically strolling through the property within seconds.
Property Inspection & Valuations
Some estate agents are gifted with the role of inspecting properties for sale. This includes visiting the home and surveying for any damage, inconsistencies, or elements that were not mentioned in the briefing. As you can probably envision, this is tiring and time consuming work.
While this is ways away, there is the possibility that this entire inspection could take place from the workplace of the agent.
Several images and videos of the property would need to be taken to ready the virtual home for inspect. The same procedure would need to take place if a valuation was to be made via VR. While this is far off, it is very possible in the future.
Most trainee estate agents learn the ropes by shadowing one of their senior colleagues on the job, following them around on viewings, visits and valuations, to name a few. While this is an effective method of training the young grasshopper as they get hands on experience, it may not always be possible for them to tag along.
Virtual training methods could be created which pits the user in situations that they would face on the job, i.e questions from potential buyers, explaining features in a property. This could save real estate firms thousands in training expenses, as a large chunk could be done in house, for nothing.