The Potential of PropTech #2: How Your Real Estate Business Can Benefit From VR & AR | SPX Lab

This article is the second of a series of insights about The Potential of PropTech and how this type of technology is enriching customer experience and the quality of living.

Empower Your Real Estate Brand Using Immersive Reality

Technology is updating and improving constantly, expanding the number of possible ways to promote your business. Evolving over time has now become a prerogative, common to all those brands that are choosing to stand out and get an advantage from the new technological offering.

In our previous article of The Potential of PropTech, together with SALTO KS, we explored how PropTech is emerging as one of the most important trends in real estate. It is necessary to remind that the main goal of PropTech is to empower the end-user through the use of technology-enabled services, in order to improve overall resident’s experience. These solutions, in many cases, can indeed be a game-changer that can lead to an increase of bookings and enrich customer experience.

One of the most powerful tools that is cutting through the clutter in the real estate industry is certainly represented by Immersive Reality, which uses technology to create simulated environments that feel real. Immersive Reality comprehends Virtual Reality (VR) and Augmented Reality (AR). The user is completely involved in a rich visual experience that can resemble the real world or enhance it.

What Are VR & AR?

Both Virtual Reality and Augmented Reality are based on the same kind of technology, but the main difference between the two is how they are used.

• VR is conveyed to our senses through consoles that allow a real-time 360 three-dimensional exploration of everything inside the new simulated world. The exchange of data is allowed by computer devices such as goggles or visors for sight, gloves for touch and earphones for hearing. VR can also be implemented in any website through a 360 web viewer.
• AR, on the other hand, is a technology that allows you to interact with the surrounding environment through an enhancement of perceptions thanks to digital processing. Augmented Reality allows to obtain a more in-depth knowledge of certain elements of the real world or add new ones via apps for mobile devices and smart glasses.

How Can Real Estate Benefit From VR & AR?

Virtual Reality tours and the use of Augmented Reality offer the chance to connect with customers on a more personal level and deliver memorable experiences, while letting you gain a competitive advantage. Offering lifelike interactive experiences and a clear presentation for a better understanding of the product will make the client feel involved and so more interested.

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Originally published at www.spatial-experience.com on January 10, 2020.