V.R and Real Estate

Feb 11th, 2018 | Louis Metson

If you have never heard, seen or experienced V.R here’s Google’s definition.

“The computer-generated simulation of a three-dimensional image or environment that can be interacted with in a seemingly real or physical way by a person using special electronic equipment, such as a helmet with a screen inside or gloves fitted with sensors”.

How does V.R help when I'm buying or selling a home?

V.R technology places you in the home, to feel, see and EXPERIENCE real estate in a way that photo’s, videos, 3D photo scanning can’t.

V.R is becoming one of the primary marketing tools utilised by forward thinking real estate agencies. In developed markets such as New York, Los Angeles & London this technology has been very successfully especially in the higher-end market. But in New Zealand, we're not quite there yet.

Here's a scenario for you

Let's say you were needing to sell your home before moving to another city for a job offer.

You would most likely scan the internet and narrow down a list of properties that, on paper, suit the needs of yourself/family.

The next step would be to jump on a plane to view them costing time and money.

This is where V.R impacts the real estate transaction

Imagine walking into a real estate office and viewing multiple properties in another city across the country without wasting any time or money.

Your searching experience has now transformed from the traditional online viewing of photos and videos to the virtual world, nullifying the need to use ones imagination as everything you need to see, feel and experience is available to you without the hassle of viewing onsite.

Now, do I think seeing a property in the flesh before offering is best practice yes. But for some international & busy domestic buyers this may not be feasible.

V.R takes the guesswork for those who are buying sight unseen.

Overall, the ubiquitous use of V.R in the real estate space sounds like a wildly efficient way streamline process of connecting buyers with sellers for kiwis and I'm all for it!

However, I think we are still a ways off from having it as a staple marketing tool in New Zealand.