Augmented Reality Revolutionizing the Real Estate Sector

April 23, 2021

Augmented Reality (AR) has given boundless contributions to almost all sectors. Even though real estate is not the one that comes to our mind when thinking of AR applications, AR brings a lot of potential to this sector for buyers as well as realtors.

Data shows AR has been reshaping the way people buy properties nowadays. In a recent survey, it was found that 95% of home buyers use smartphones to look for homes. If more than half of the customers are using smartphones to look for homes or properties, why not leverage this and come up with some engaging technology to bring in more customers? Good thought, right? This is exactly what real estate companies are doing right now. Seeing the vast amount of opportunity and the need to sustain during unpredictable times, almost 90% of companies in the real estate industry have started using AR to provide better service to their customers. And AR and VR market in real estate is predicted to reach at least $80 billion by 2025. Since we now know the numbers, let’s move on to the benefits AR brings to the real estate industry.

Benefits of using Augmented Reality in the Real Estate Industry

Virtual Property Staging

What if you could bring life to dull brochures? Sounds great to me. Just imagine showing your potential customers a property enhanced with interiors and furniture using augmented reality. You can sell fast because the more appealing and attractive your property looks; the more people are interested in your property.

Architecture Mockup

What if the property you are trying to sell is still under construction? It can be a tough decision for your customer whether to choose it or not. But with AR, you can superimpose non-existent interactive 3D models over the current architecture and show them how it will look after the work completes.

Saves Time and Resources

Visiting each property can be exhausting and time-consuming. With AR, you can provide buyers with better visualization of the properties that give them an idea of how the apartment might look in real, all this without actually visiting the property. This can save buyers a lot of traveling time and helps them to narrow down the list of properties.

Reaching Customers Across the Globe

For realtors, AR opens a new door to target potential buyers at the global level and provide them a unique and engaging experience. A good example for this is the location-based Onirix Places which helps realtors to advertise the property on the map and customer gets a notification each time they are close to a potential property that matches their search criteria. AR indeed makes the purchase decision easy and fast for buyers.

So, as said above, AR is almost inevitable in the real estate industry. If you incorporate AR in your real estate company, you can provide an interactive experience for your buyer as well as your realtor. And if you are in search of one such AR app, we can help. Just click on this link and you are halfway through!