Real Estatetechnology

New Technologies in the Real Estate Business

New Technologies in the Real Estate Business

The real estate market is constantly changing, thus, making sales technologies for both residential and non-residential properties alter as well. Today, new technologies are not only becoming part of the residential real estate business but are also largely creating new sectors of this market, changing the traditional methods of doing business. We are still at the beginning of this path.

What’s Happening?

The innovative changes in the real estate industry that are now taking place can be called a real technological revolution. It is very versatile, but its key areas are:

  • Delivering information about the property to the buyer or tenant;
  • Financial technologies associated with real estate transactions, transferring them to the virtual space;
  • Shared economy, a new paradigm of property use, which also applies to real estate;
  • The management of property and buildings, where new technologies are also increasingly being introduced.

All these are aimed at making the sales process easier and more straightforward. Many emphasize 3D and virtual technology solutions as the most prominent technologies that are currently used in the real estate business.

Virtual Reality in Real Estate

The use of virtual and augmented reality technologies has always been associated primarily with the entertainment industry. In fact, VR and AR are today becoming a part of other areas, such as construction, energy, medicine, education, etc. If we talk about the construction and real estate industries, then there are several main areas in which VR and AR technologies are in high demand:

  • Training of workers in complex technological operations or work associated with high risk – In this case, using VR, you can simulate a complete process chain in a 3D model and walk it step by step. At the same time, you can simulate any environmental conditions, for example, high-altitude work in bad weather, etc.;
  • Use of AR technologies directly at the construction site – With the help of augmented reality, you can receive information that is relevant at the moment in real-time. An employee in a helmet or glasses sees everything that happens in reality at the facility, while additional information about technological nuances is displayed on the device screen;
  • Verification of design solutions – First of all, VR and virtual staging solutions like spotless agency allow you to assess how the future object fits into the surrounding area. The visualization effect with the help of VR makes it possible to assess the project as fully as possible. It is relevant to both design and engineering solutions;
  • Advertising and marketing – The sale of apartments in new buildings starts already at the construction stage, often long before the full completion of the design stage. In this case, the key point for the developer is having the opportunity to “demonstrate” the object to the future buyer in the most effective way. While a person cannot enter a real object, nothing prevents one from walking through it using virtual reality technologies.

The relevance of the use of 3D and VR technologies in the construction industry is increasing, which is no wonder at all. After all, these tools greatly simplify work at every stage – from concept development to the sale of finished objects.

When checking projects, the VR tool allows you to solve an aesthetic issue. With its help, you can adequately evaluate an object, understand how it fits into the surrounding area, how it interacts with other buildings, etc. At the design stage of objects, construction companies have long been using traditional 3D models, and they will continue to do so. 

VR technologies are already becoming a common thing for sales departments of construction companies, which is an increasingly clear trend. The use of these tools is relevant for large real estate agencies and is especially suitable for developers and agencies that specialize in the sale of remote properties. AR technology can also be used as a marketing tool in the real estate industry. It’s simple: a customer will take the catalog, download the mobile application, and check the object online. To do this, people do not even need to leave their homes.  

What’s Expected in the Future?

Virtual technology will be more actively used in the real estate industry. The near future of VR and AR technologies will most likely be determined by the following conditions:

  • Devices will become more mobile and cheaper;
  • There will be a standardization of data presentation formats;
  • Massively available solutions will expand the circle of users of VR and AR technologies. They will not be tools for narrow-profile specialists anymore and will be available to everyone.

So we can expect the simplification and real advancements in the real estate business no matter if it comes to object construction, apartment rent, or purchase.

Leave a Reply

This website uses cookies. By continuing to use this site, you accept our use of cookies.