Benefits of using VR and AR in real estate sales

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Buying a product that hasn’t yet been produced, the consumer experiences stress and doubt. The inability to touch, see the product is a significant obstacle to the purchase. Another thing is when there is a virtual house staging or virtual apartment staging in front of your eyes. It allows you to see a house that has not yet been built, consult with knowledgeable and interested people, and finally imagine yourself as its owner, at least virtually.

In this article, we will talk about the benefits of VR and AR in real estate.

What is the difference between VR and AR?

Virtual reality (VR) is a computer-generated world that can be accessed using immersive devices such as helmets, gloves, and headphones. The virtual environment completely replaces the real world without reacting to its changes, while the user can influence it by immersing himself, for example, in examining a new apartment or house.

Augmented reality (AR) simply adds layers to the real world. That is, people can still interact with the physical environment by getting additional information from their augmented reality devices or applications.

In short, the main difference between VR and AR is that in VR we can interact with the virtual world.

Main directions for use

Conventionally, in the field of real estate, two main areas for the use of VR can be distinguished:

  • The presentation of existing objects;
  • The presentation only designed objects.
The presentation of existing objects

In this case, it is enough to simply shoot the object with a panoramic camera (360 degrees), and then prepare a VR version of the video.

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The presentation only designed objects

In the case of designed objects, full 3D modeling of these objects will be required, to create virtual staging.

Main benefits of using VR and AR

Tool is virtual, money is real

Such technologies have a positive impact on sales rates. In addition, they allow you to abandon the idea of an expensive showroom, and this factor alone allows you to get a significant financial return. Indicating on the site that you are using virtual tours for real estate can increase site traffic. And hence the number of potential customers who will search the Internet for “3d virtual tours real estate near me” or “virtual house staging near me”.

Based on our observations, buyers who used these technologies were more willing to make deals.

Prepared Buyer

If you start posting offers for the sale of an apartment or house on your website, with the possibility of 3d virtual tours real estate, then the client will immediately be aware of the type of apartment. This will allow you to reduce the number of clients who will take your time at the meeting, but in the end will not buy an apartment due to the fact that it does not suit them. 

Based on this, you will also reduce your losses.

Be closer to the client

Using the possibilities of 3d rendering services for virtual tours real estate to the fullest, you will be able to show all the sides that excite customers. For example, usually the display of apartments and houses takes place during the day, in daylight. And thanks to these technologies, you can show how the apartment will look at night, what happens on the balcony when it rains (where the water flows), etc.

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According to a Goldman Sachs report, in 2020, the real estate industry’s profit from the use of VR/AR technologies will increase to $0.8 billion, and by 2025 this figure will be $2.6 billion. In general, in the field of sales by 2020, the same report predicts 9.5 million users, and by 2025 there will already be 31.5 million. These figures prove the unconditional benefits of using modern technologies for both sellers and buyers.

Among all the tools used in sales, the use of such technology brings good results. The client has the opportunity to immerse himself in the atmosphere of his future purchase, which significantly speeds up sales.

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