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What is Augmented Reality, and How is it Changing the Way People Do Business in Real Estate?
The process of purchasing a property has drastically changed due to the leaps and bounds of progress because of technological advancement. In fact, augmented reality is turning out to be a game-changer in the commercial real estate sector.
AR has changed the real estate industry by enhancing property viewings, offering visual solutions regarding changes in real estate development or renovation, and simplifying the overall transaction process for customers and sellers.
Implementing Augmented Reality in Real Estate is an incredibly powerful way to help potential customers check out commercial properties visually from their smart devices. Check out this blog to know how AR is transforming the commercial real estate industry for improving the buyer experience in more detail –
Exploring the Benefits of AR in Commercial Real Estate
Augmented reality in the commercial real estate industry has resulted in significant improvements in financial sales. With this technology, industry experts have got an easier technique to offer site experience to their customers. With a visual site experience, it is now possible to make the property desirable for interested customers by enabling them with a real-time experience. commercial real estate for sale
The 5 benefits of AR in real estate that have transformed the industry are –
- Efficiency in Sales:
It is making customers take an informed decision after viewing the property through a virtual site experience. Having an overview of the commercial property makes the real estate more desirable to potential customers.
- Enhancing the Marketing Efforts:
With this technology, sellers can have good marketing and a big advantage over their competitors. The improved version of the property gives customers a completely good site experience even before they have visited the place physically
- Astute Project Planning and Visualization:
As per A2 Consulting experts, this technology encourages sales of properties that are under construction as it gives exact imagery of how the apartment would look once the work is completed. It gives clarity about the possible delays & extra costs in project planning or other challenges to make the entire process highly efficient
- Improved Return on Investment:
AR permits real estate agents and developers to have a quantifiable approach for tracking customer engagement with substantial data collection. It could be about the number of virtual visitors for commercial real estate, time spent on interaction with chatbot or sales professional, location, etc. It helps the sellers to optimize the augmented reality visits of customers to different real estate, resulting in a good ROI
- Analysis of Consumer Preference:
This technology gives correct and valuable insights into data about customer preferences. It assists the developers to align their projects accordingly and also provides an accurate presentation format for augmented real estate tours
The Impact of Augmented Reality on Property Tours & Buyer Experience
As per industry experts, apart from the augmented reality benefits, having a virtual tour of the commercial property customers are planning to purchase gives them various advantages. The AR advantages for real estate include –
- Architectural mockups:
It is not always feasible for customers and even real estate agents to wait until the construction of the commercial property is completed because of limited time. Hence, with the use of AR, both parties can visualize how the space would look even if it is in the under-construction stage.
- Virtual showings:
Using AR, real estate agents can offer potential buyers an immersive virtual walkthrough for a particular commercial property they are interested in to let them have a seamless experience from their home couch
- Staging:
Furnishing the space or staging has improved the track record for boosting sales in the commercial real estate market. With the help of AR, real estate agents superimpose digital furniture required in the office/ business apartment to help the buyers have a clear view of its position and need before they purchase!
Explore the Benefits of Augmented Reality for Commercial Real Estate Developers & Investors
According to available information, virtual reality tours for the commercial real estate industry come with various benefits for real estate developers and even investors. Virtual property marketing has the following advantages –
- It improves user engagement through visual interaction
- It provides a direct return on investment with accurate statistics of the number of visitors, their time and place, length of interaction, the effect of virtual viewing indicating their direct actions, etc.
- It ensures an easier reach to a wide range of customers
- It promotes direct and viral word-of-mouth publicity for your project from visitors to their connections, family & friends
- The AR view offers a clear view of the real estate product & service being offered
Examples of Companies That are Using AR to Revolutionize Their Commercial Real Estate Business
Augmented reality in commercial real estate works as a tool that can overlay real-time environments. It gives the architects a chance to review the real estate structures for misalignments, missing elements, and structural imbalances using AR-powered headsets.
This immersive technology helps real estate developers conduct AR property tours for potential buyers to boost their sales. The following companies in the US are using AR technology to help commercial real estate business owners revolutionize their sales –
- Matterport
- OpenSpace
- A2 Consulting LLC
- HoloBuilder
How A2Consulting Can Help You Leverage the Power of Augmented Reality in Your Business?
The virtual walkthroughs of commercial property have provided real estate agents and their customers with an easy way to showcase and view the properties available on sale.
By using augmented reality for property tours, it is possible to convince potential customers of a commercial property on sale and help them take a sound decision.
Are you wondering how to find a company that provides AR solutions for commercial real estate businesses? A2 Consulting LLC is an Ohio-based software consulting company that business owners involved in the real estate industry need to give a virtual overview of their properties on sale.
Our AR expert software professionals can build a customized augmented reality web application or mobile application according to client needs to boost your real estate sales and help you get high profits!
