March 4, 2016
Virtual reality is a key to unlocking real estate transactions. Last week, we touched on how virtual reality affects retail. According to Goldman Sachs, the VR industry will be worth $80 billion in 2025, and its effects are already being felt in real estate.
With VR, agents are able to give prospective clients an inside look at buildings before the structure is built. For example, sales offices for Luma, a condominium development in Seattle, have utilized the Oculus Rift headsets to give unit tours, before the development even broke ground.
Commercial properties and sale centers can share space with clients well in advance of development, and even test layouts to gauge buyers’ preferences. Many argue that real estate is lagging when it comes to technology, but such innovation is greatly impacting and propelling the industry.