“The one thing all humans share is that we all inhabit the same limited amount of real estate, which is Planet Earth. ” – Bjarke Ingels
Augmented reality is still a relatively newer technology in real estate industry. It is one area where AR can be particularly useful. Developers and real estate agents can benefit from the usage of AR in generating sales, engaging customers and architecting homes better.
Visualization of an under-construction property
Augmented Reality allows home buyers to see what their properties would look like when they are complete. This helps real estate developers provide a more precise idea of what the under-construction property would become once its ready to occupy. Customers can check what furniture would suit their homes best, the amount of natural light that the property will have, gives different perspective views to enable better decision making.
Decor and architecture
AR technology can be used to remodel rooms and spaces around in home. It can be used to see how different appliances, fittings will look like once used. It can help decide different wall colours and the matching decor. The AR platform can re-position any object, be it a mirror, bathtub, wash basins or any combinations of these , with respect to their position, shape and size in the room—all displayed in real time. Augmented Reality can simulate and produce a view of these exact permutations and combinations.
Interactive sales and marketing
Using AR to drive sales is being used in variety of industries today, the sheer awe-inspiring experiences that the technology produces, is the crowd-puller. Real Estate agents have started using this technology to meet customers expectations. Home buying is a big decision, which requires lots of investment on buyers’ part and loads of persuasion on the sellers part. AR helps marketers engage their customers using the 3D experiences. The applications can enable marketing teams to take data-driven decisions based on insights provided by the technology on what methods and channels are working and which ones needs more work to drive sales.
Virtual Tours
With AR, developers and marketers can create unique experiences for the real estate buyers. It can not be used for both residential and commercial properties. Retailers can use virtual tours to allow customers to know more about the products and services available in their brick and mortar stores. Historically, AR apps have been used as a tool, providing information related to the real world environment where the user is located in. Virtual tours using AR can also be used to provide information that has little relationship with the user’s real environment.
Very soon, AR will be the technology of choice for all real estate developers and buyers will only look at the 3D models in AR of their condos and apartments before buying them. This will cut down costs significantly for developers, this cost benefit will eventually trickle down to buyers. With online home loan pre-approvals, soon one will be able to select a home online and buy it online.