How Virtual and Augmented Reality Will Impact the Real Estate Industry

With the introduction of technology, the real estate industry has been in a constant state of change. 95% of homebuyers turn to the internet to begin their home search, and 51% of them actually end up finding their perfect home online, according to the National Association of Realtors.

With advances in recent years, virtual and augmented reality have become household technologies. So, how will this play into the quickly changing real estate industry? Well, as with many technologies, these tools will make buying and selling homes easier for both the agents and homebuyers. Below are three ways virtual and augmented reality will impact the real estate industry.

1. Augmented reality will allow homebuyers to visualize interior changes

Sometimes it’s hard to visualize your dream home when viewing a vacant home for sale. Augmented reality apps such as “Curate” by Sotheby’s International Realty will project the viewers furniture in the empty space.

2. Virtual reality will help foreign buyers “view” homes virtually

Virtual reality is becoming increasingly popular as it allows a home to be shown virtually. Sometimes it isn’t always possible for foreign buyers to view homes in person, this tool aids both the agent and home buyer.

3. Virtual and augmented reality will be included in future listing services

Virtual tours are already being created for listings on the market today, however, with more and more homebuyers using these technologies, agents will begin to create more immersive virtual experiences to sell homes.