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How Augmented Reality can Enhance Real Estate Sector

How Augmented Reality can Enhance Real Estate Sector
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The real estate sector is flourishing and realtors are trying new technologies so that they can provide potential buyers with an innovative experience while they are searching for new homes. The use of augmented reality is increasing in this sector in the hope of helping probable buyers to find their dream home. With the use of augmented reality, the real estate agents and the buyers will be benefited equally. This technology brings products to life and there cannot be a better way to display homes which haven’t been built yet.

How Can Augmented Reality be used in Real Estate?

Augmented reality in this sector works by projecting information about the properties that are available for sale over the images of those houses. The overlaid data is visible to the users when they point their mobile device toward the houses. In some cases, buyers can not only see the overlaid data, but they can also see how the interior of the houses will look after completion, just by viewing these places from outside, using their mobile devices.

Read Also – How Augmented Reality can Revolutionize the Hospitality Industry

Buyers don’t even have to enter the house. They can just walk or drive by the houses in construction and browse them. Seeing the positions of other houses in the locality and the location of their preferred house helps them in making the right purchase decision.

Apart from just searching for homes, AR can also have other uses in real estate. Probable buyers can check out how their homes will look when decorated in different ways, making the house more appealing to the buyers. There are AR apps which can change the color of the walls thereby showing how the house will look when painted with their favorite shades. There are apps which can give a detailed view of the homes with their interior design planning even without placing any real object in the house. These apps can place furniture virtually inside the homes.

How can AR Benefit Realtors?

With the use of AR, realtors can benefit as much as the consumers. They will be able to set up a faster communication with their consumers. This technology will also help them to generate new clients. Realtors can provide the right message at the right time with geo-fencing feature that is available in most of the AR apps.

There are many apps which can help realtors to learn when a prospective buyer is viewing the property and know its location in real-time. They can find out when the users see a print advertisement. Based on this information, they can send push notifications to interact with the potential customers. With interactive logos, images and listings it will be highly beneficial for the realtors to draw the attention of the prospective buyers towards the properties. Marketing costs will be reduced significantly with the use of AR. By communicating instantly with prospective buyers, the chances of generating more revenue increases for the real estate agents.

How can Potential Buyers Benefit from AR?

If you are looking to buy a property, an augmented reality app will be really helpful in making the right decision. With such an app, you can take a virtual tour of a home using your mobile device. Depending on how the app works, you can scan a flyer, banner or any other printed material which has augmented reality integrated in it, to see the property come to life. Searching for properties will become much easier.

Augmented reality will help buyers like you to find out the location of the properties, know the exact distance from your current location to that of the property. You will also be able to view the photos of the property with an AR app. The technology will help you get detailed information about a property like the price, total area of the house, number of rooms, etc. Some apps also provide you with the option to contact the listing owners directly. All this information will assist you when you are taking the final decision of buying a property.

AR Apps used in the Real Estate Sector

There are many AR apps which are already in use in the real estate sector to ease the property buying process for both real estate owners and the prospective buyers. Let us have a look at some of them.

  • Lux AR App

People will be able to find properties with the Lux AR app without a map. The app uses GPS geo location technology along with the mobile devices to provide users the location of the properties which are nearby their current location. Apart from viewing the property, users will also be able to interact with the surrounding, using this app.

  • Homesnap App

The Homesnap app helps users find out information about homes which are available for sale in a particular location. All the users need to do is click images of a locality which they like and the required information will be available to them. Data that will be obtained includes value of the homes, images of the interiors of the homes, and more. You will also be able to learn about the recent sales, open houses and houses which are up for sale.

  • NuOffice App

The app, launched by RE’FLEKT provides an intuitive house hunting experience to the users. This app provides a 3D visual communication to the users which offer an interactive presentation of real estate and architectural projects. The visualization feature of this app can be used by real estate companies in areas of project management, architecture and real estate.

Limitation of the AR apps

While many AR apps are being developed, there are some limitations of the use of these apps. Some of them include.

  • Unavailability of proper hardware
  • Restrictions on the use of marker
  • Limited reception by the users
  • Inability to measure costs and benefits
  • Data protection and privacy issues

Overcoming the Limitations

Real estate agents can work in a different way to overcome the limitations of AR for the real estate industry. While AR apps can show the clients how a house under construction would look like after its completion, it also depends on the imagination power of the clients.

To make the houses look more realistic, agencies can install projectors to show the end result. They can also provide their clients with head-mounted displays when they enter the property. This could help the users move around and visualize decorations and virtual furniture, which are generated using a computer. This will lend a homely feel to the properties thereby helping the users in a better way to visualize the house.

By embracing technology and overcoming the limitations of AR in the real estate industry, there will be plenty of opportunities to drive a more time-efficient and lucrative business. As for prospective buyers, augmented reality apps will help them to snap up properties real quick before others do. They will also be able to get a better view of where they might want to live. All this will help them to make the final purchasing decision in a much better way than it would have been possible without the use of an AR app.

What do you think?

Do you think augmented reality will help in the progress of real estate sector? Have you used any AR app to view a property before buying? Share your insights in the comments below.

Image Source – ziius.com

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Some opinions expressed in this article may be those of a guest writer and not necessarily by augmentedrealitytrends.com

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