Think of augmented reality as somewhere between the realm of the physical world and the virtual world. Essentially, it is a mixed reality where computer generated graphics, videos, texts and sounds overlap your physical sight. Users can interact with these digital elements through applications on Smartphone’s, tablets, AR headphones such as Microsoft HoloLens and AR glasses.
Augmented reality is gaining ground in almost all industries and the real estate sector does not seem to be an exception. Some agencies have already made use of this modern technology in several ways, from updating their printed catalogs to interactive demonstrations on the installation and on a mobile screen. Although AR is just beginning its path, augmented reality in real estate already provides serious business opportunities.
It has similar value to a marketing method, as well as a tool to encourage customers to a conversation and shopping. More importantly, the use of AR presents benefits for clients, as well as for real estate agencies / agents.
- Print text descriptions of apartments that say nothing (or very little) to buyers
- Photo ads are better, but still, you cannot display the complete realistic image
- 3D models in mobile or desktop applications are interactive and yet lack a complete presentation
- Visiting each site together with customers takes too long
If you’re interested in a particular topic, feel free to jump ahead:
- Modern Marketing Techniques
- Understandable Product Representation
- Better Engagement
- Reduce Resources and Time
- Reaches Clients Long Wide and Long
Modern Marketing Techniques
People love everything new, science fiction and entertainment. And clearly, you can fully use your interest for your own benefit with these innovative tools to advertise and distribute your products, such as Print catalogs and large boards with AR to be more interactive, Geo-tags to help locate your items for sale in the Real world, so that customers can discover for themselves, New advertising possibilities, Extensive coverage with applications in Google Play and App Store.
Understandable Product Representation
Selling properties that have not been built can be complicated. Real estate agents have to find a way to show the buyer what it will look like and convince them that it is the property of their dreams.
AR is a developer’s dream, as it allows buyers to imagine the final result. When a client cannot visualize the final product, it can take longer to close the deal and can prevent real estate agents from planning new projects. But AR makes the product more tangible, which is essential for presale of built and built properties.
AR also allows you to adjust the style, furniture and environment of the property to suit the client’s tastes. With all this information available, real estate agents are more likely to close a deal.
Better Engagement
Clients can use AR to visit properties from the comfort of their sofa. This allows real estate agents to take advantage of new audiences, particularly a demographic group more inclined towards technology. Research shows that 80% of millennial have the desire to buy their own homes and AR is the perfect way to generate interest.
Without the expensive home assembly process, customers can click on the images of their current furniture and place them in a list. This removes any display barrier, as they can see if the design of the property works well for them.
Reduce Resources and Time
Potential buyers do not need to see a property when AR allows them to experience it. Instead of a calendar full of open door dates, buyers can reduce the group to a smaller group of properties that are more suitable for them. They can explore the AR catalog through an application and decide which reality homes reflect their property needs.
It also saves the real estate agent time. Instead of showing potential buyers the properties, real estate agents can devote their time to tracking other potential clients.
Statistics say it is common for tenants to commit to leasing the apartments they have seen in an AR application that allows them to take a tour, ask questions and record presentations. So why not use this to your advantage?
Reaches Clients Long Wide and Long
Augmented reality is a powerful tool for buyers who live abroad and cannot visit the property. Virtual luxury real estate or AR tours create an immersive experience for buyers and provide them with essential details. It is also necessary to sell luxury properties, as they have a smaller group of buyers and many of those interested are abroad.
Conclusion
Therefore, one could say that Augmented Reality in the real estate industry is helping clients and agents a lot by superimposing information on real objects, creating digital objects for presentations and virtual tours, and improving objects of life.
In our digital age, it is not surprising that AR is changing the real estate landscape. AR is the best way to visualize a property, reach larger audiences and discover what aspects of AR attract buyers. The augmented reality of real estate also increases foreign investments due to its availability. It is a win-win.
Augmented reality has a great interest among smartphone owners and an optimistic business forecast for the future. As you can see, some real estate agencies have already incorporated AR features in their mobile applications and are reaping the benefits. If you are a real estate agent or work for an agency, you probably should too. For more information on how we can help.