Augmented Reality Changing the Real Estate Landscape

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In recent years we have heard a lot about Augmented Reality (AR) as an example of a very innovative technology that is being adopted by many businesses operating in different fields. This technology is an improved version of the real physical world achieved through the use of various elements such as digital visual, sound, or other sensory stimuli. AR overlays images or text on the real world view. This technology that is having a growing trend makes it possible to eliminate the gap that exists between reality and technology, thus creating efficient solutions for business. As mentioned before, considering the promising nature of this technology, many companies belonging to various industries starting from healthcare, manufacturing, energy, and including real estate have chosen to make this technology part of their operating processes. In real estate, it is now quite easy for buyers to visit their future property regardless of their location anywhere in the world. But not only that, AR makes it possible for interior designers to present and change different models and styles to their customers, exactly like those models would really look in reality.

Furthermore, let’s take a closer look at the benefits that AR technology is offering not only to buyers but also to real estate agencies.

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Better Property Visualization

Nowadays finding a suitable property according to the client’s requirements can be quite difficult. This is one of the reasons why properties that have not been built can sometimes be claimed. At this point, thanks to AR technology, real estate agents make it possible to convince buyers by visualizing and showing what their future property will look like. This makes it possible for real estate agencies to open a new market, that of still unbuilt properties. At the same time, the requirements and the satisfaction of the client are met, leading to the successful conclusion of contracts. Even interior designers have the opportunity to play with more styles by presenting different models to the client of how the interior of the property can look.

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Greater Engagement

What happens if the potential buyers are located in another city or state from where the property they are looking to buy is located? Then again here AR takes on an important role as a bridge between agency and clients. Customers can easily explore properties from their own homes. This reduces the need for travel and extra costs that sometimes can even make the customer give up the purchase. At the same time, thanks to AR Remote Assistance, agencies are able to offer a very high level of customer service in real-time. The real estate agent can provide the necessary answers to the client and on the other hand, the client can inspect exactly and in detail the possible property for purchase. Thanks to AR annotation, the agent has the opportunity to make appropriate notes in the real environment by adhering to the requests for changes that the client wants to make. All this leads to an improved client-agent relationship and also makes possible the greater commitment of the employees of the real estate agency by adhering to the current trends for the adoption of new innovative technologies.

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Competitive Market Position

Today’s reality is making it very difficult for many businesses to secure a competitive position in the market. Can you just think of how many real estate agencies there are in the area around you? Yes, it is true that you can list many of them, but what is known is that it is not possible for all these agencies to survive the many challenges that the market brings every year. Then in these cases what is considered a smart tactic by managers is to embrace these innovative new solutions. What I mentioned above is considered as a tool that brings real benefits, AR technology makes a difference in the market. The personalized experience offered to clients is what makes the essential difference between these different agencies. Now in the world of technology we live in, this replacement of traditional ways of buying property gives AR technology the opportunity to show its applications in this sector as well. The whole step taken by the companies that select this innovation translates into the attraction and interest of more customers, and at the same time, it means growth and differentiation in the market from many other companies.

To conclude, in this era we are living in that is characterized by technology which increases the speed and breadth of knowledge circulation within the economy and society, we can say that AR is also making a radical change in the real estate sector. A technology that brings great attractiveness to buyers and keeps businesses in the market. This leads to increased investment of these businesses in the adoption of this exciting and very promising technology to offer other unique application opportunities.

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Linda Malecaj

AR/ VR enthusiast, Marketing Specialist. Developing marketing programs and materials to reach customers through various communication methods. Working with sales, marketing, management, development, and product research teams to launch new products, reintroduce existing lines and retire poor performing products.