The Future of Real Estate is Augmented Reality

Augmented Reality in Real Estate

By Navjeet Chhina | April 15, 2020

Augmented reality is a burgeoning industry with frequent advancements and a promising future. AR technologies have impacted nearly every industry, and real estate is no exception. The technology has gone from a futuristic maybe to a realistic way of showing a building in detail on a client’s smartphone. Many agencies have already incorporated AR technology into their everyday practices, introducing interactive demonstrations on-site and on the phone.

Augmented reality has valuable marketing implications that are only just being tapped into. AR is also a unique way of encouraging clients to make a profitable decision.

How is AR affecting real estate?

Most real estate agencies struggle with the presentation of their catalog at some point, facing roadblocks including unemotive text descriptions, lackluster photos, and lack of devoted time to visit each site with clients. AR tools and mobile apps can overcome most, if not all of these obstacles with the single touch of a button.

Clients can use an agency’s built-in AR capabilities to view a site from all angles, gaining a better, in-depth understanding of a property without ever leaving their homes. Agencies can set up their augmented reality applications to allow clients to browse different categories, compare various sites, and make informed decisions.

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What are the benefits of AR in real estate?

Augmented reality brings a new way for clients to not only view a property but experience the property, too. In general, people enjoy technological advancements that are helpful and also entertaining. Real estate agencies can use the innate attractiveness of new technologies to bring in new clients and keep them engaged with the agency.

Real estate agencies can use AR to make interactive catalogs and advertisements and implement new ways for clients to view a property. Clients are more likely to engage with a property if there is an element of AR because visualization is better with AR than with photos, videos, and text descriptions. The more complex a property or building is, the better an AR experience serves it.

AR technologies can also make clients more interested and involved in what an agency is selling. This is likely because AR is a newer technology that most people find fascinating. With augmented reality, clients can visit a property in which they are interested on their own from their couch. This frees up time on an agent’s schedule, saving the agency time and resources overall.

[youtube https://www.youtube.com/watch?v=40gfdIT8nlk&w=560&h=315]

Augmented Reality Applications

Augmented reality real estate applications mainly fall into three categories based on the complexity of their designs. The types include Simple, Advanced, and Enterprise AR apps. Simple applications might consist of simplistic 3D objects, while Advanced applications might consist of QR codes or interactive animations.

Conclusion

Augmented reality has a bright future in the smartphone application landscape. The practical uses are boundless, making it clear why the technology has reached into most industries. Real estate agencies can tap into a new customer base by marketing their properties through AR experiences. Some agencies have already started implementing the technology, and others are quickly following. In today’s tech-happy world, not adopting AR is not an option.

Navjeet Chhina is a content contributor discussing Technology for Inland Empire Business Journal.

Navjeet Chhina | CEO

a: Genius Ventures Inc | Los Angeles | Vancouver e: nav@geniusventuresinc.com | w: www.geniusventuresinc.com p: + 1 626 736 3625