Augmented & Virtual Reality in Real Estate : Expanding the Limits of Human Perception – Shailesh Goswami

In Augmented Reality, Columns, Virtual Reality

Technology has advanced to such a level that as humans we fail to understand how far our perception can function. Something as complex as buying property has become a simple and interactive experience that a smart and tech-savvy buyer significantly enjoys.

From building design to interior finishing, creators and contractors can convert potential buyers into prospective ones quickly. How? Virtual Reality and Augmented Reality is that gripping futuristic wave that has the power to transform not just your imagination but the world we live in.

It is like an extraordinary innovation that is steadily revolutionizing everything around us by giving us a preview of not only how things can be, but how we want them to be. While VR is letting us visualize the digital world, AR is bringing real-world objects into the virtual world to interact with.

Gone are the days when property buyers had to hunt for a decent real estate broker, spend hours on telling him what exactly their ideal property is all about and then spend months on end on searching for the right one by shunting from one property to another. Technology has made prospective buyers smart as well as self-reliant. They don’t have to depend on the third party as much as they used to before.

Neither do they have to stick with what they are shown. They are using their realistic technology and their imagination to justify their choice, get a better understanding, more engagement, and save time and resources. AR/ VR technologies are evolutionary. They are changing our experience of reality. Here’s how:

360- Degree immersive experience: Visiting a property is not only time-consuming but at times also expensive. However, the power of VR/AR lets you open the horizon of your mind by enabling you to see more than what you imagine in a limited time.

Put on a VR headset and activate your digital touch screens, that are compatible with most leading smart-phones to enjoy a 360-degree purview inside the property of your choice right there in the comfort of your home at any given time. It is like spacewalking into the design without being a burden on your pocket.

With 3D virtual property tours, every bit of the property feature that is relevant to the customer’s decision-making process is visible. Be it subtle elements like natural and artificial lighting from the balcony or the view from the bathroom window. VR and AR are giving people a real-time experience of their yet to be space. These 360 videos can be live, animated, or a mix of computer generated-graphics and live action.

Touch and Sound:

Take the property viewing game a notch higher by enabling a touch-based interactive user interface for an enhanced experience. The use of touch and sound provides the buyer with the option of choosing from a variety of digital layouts while interacting with the UI. This helps them think what would suit their personality and surroundings better. Imagine- you are considering buying designer cabinets but do not know which one would suit the colour and style in your bedroom, or you want to change the placement of a plant or furniture as per Vaastu, or even alter the colour of the office wall. There are now options that simply let you chose and moved products as per your liking. Sound, on the other hand, turns mundane spaces into a lively space. The content becomes more convincing, as the sound compliments the 3D nature of your VR content. AR/VR thus enables you to make informed decisions of much such nitty-gritty effortlessly.

Buyers Understanding:

Why just viewing, virtual technology and augmented technology are helping realtors gain a deeper understanding of potential customer preferences. How? They have taken the guesswork out of the decor and designing process and given buyers the ability to see precisely how the interiors and exteriors of their space will finally look like. Designers can now showcase their designs in the most interesting and creative way, and engage potential buyers by triggering their curiosity for further exploration. Making changes on the spot as per their liking and needs further creates a connection that impacts the buyer’s intention. Whether it’s changing the room layout, altering the furniture or the view from the window, everything can be done in a fraction of the time. Designers can create a seamless tour of the property that draws quality tenants and get finalization of properties quickly. It hardly takes a few minutes for them to know how satisfied they are with what they see ever thought it could be possible.

With augmented reality and virtual reality penetrating our lives, adopting the same into the reality market will do more wonders now than ever to the real estate sector. Together they are undoubtedly creating a storm, and with the correct application, they are moving people to think beyond their imagination, instead of expanding the limits of their human perception.

(The author is the Founder & CEO at Foyr – a VR based prop-tech startup. Foyr is a technology company disrupting the 3D visualisation space. Its proprietary visualisation platform combines next-generation visualisation technology and Artificial Intelligence. This advanced world-class platform is of assistance to architects, commercial brokers, property developers and interior professionals from all around the globe.)

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