VIRTUAL REALITY Changing the Way We Look at Real Estate BY: NOAH CORBETT
I
f you have seen or followed headlines about Facebook, Microsoft or Google in the last five years, it’s likely that you’ve come across something regarding virtual reality. Even if you aren’t a regular reader of the news, it’s possible that you might have seen the technology without recognizing it. But, what is virtual reality, exactly? Immersive Virtual Reality (VR) uses sensory aids to transport you to another, virtual world. VR headsets are equipped with screens, and often have headphones to immerse you into the world. Sometimes, gloves or chest harnesses are integrated into the experience to mimic weight, textures and impacts. Think about it as if, when you put on the headset and gloves, you are instantly placed in the center of your favorite movie. You can interact with, touch, see and hear the other characters in the scene. Many of the technologies that have come out in recent years for VR have been slated towards entertainment or playing games; however, there are many promising and practical applications of virtual reality coming to light now in a number of different industries including 18 INSIGHT • February 2019
real estate. The barrier to entry—it’s price—has been lowering and it’s more affordable than ever to begin looking at VR as yet another tool in your belt as a REALTOR®. Provided that the statistic “one in three home buyers never step foot in a property before buying” holds, then virtual reality technologies are ideally situated to bridge that gap, and in doing, so may also boost your marketing efforts and attract new clients.
Virtual Property Showcasing Property photos have been a crucial part of real estate marketing for decades, but thanks to VR and other advances in technology, we are no longer restricted to just two dimensions. “We would like to see VR replace still photography in the future,” says AerialLook CEO Robert Koenkamp. “Why look at real estate when you can experience it?” With the help from companies like Matterport, GeoCV and NC REALTORS® partner AerialLook, REALTORS® can promote online listings and allow clients to experience properties through three-dimensional,
guided walkthroughs either at the click of a button or through a headset. Take Laurie Weston Davis for example. A REALTOR® at Better Homes and Gardens Real Estate Lifestyle Property Partners in Pinehurst, Davis serves many military families—clients who are often partially overseas and aren’t available to check out properties in person. Virtual reality, specifically 3D tours, have enabled her to move past those obstacles. Not only has it helped to showcase homes to clients abroad, but it also helps them “narrow their focus, rule out issues [or] things they don’t like in various houses and save time.” Virtual walkthroughs, she finds, are particularly important for midrange and lower-end homes because
