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VR evolution in real estate
VR technology and Virtual reality products refer to the utilisation of technology as a solution to challenges in the real estate sector. So what are the key benefits of virtual reality in real estate industry and many others?
What are the benefits of VR technology in Real Estate?
Many new VR films or early stage companies have been developed, providing people a feel of the immersive experience. Following up some of the main advantages of virtual reality below.
Efficiency
Arranging visits, showing properties, negotiating terms and prices – all of these tasks are extremely time-consuming, so it's no wonder that the average realtor works with a relatively small number of clients. Since most properties can be shown through virtual tours, realtors can work more productively. VR technology saves time for both clients and realtors. Thanks to VR, there's no need to travel from one property to another. Instead, potential property buyers can use VR headsets and enjoy immersive three-dimensional tours.

As the technology currently stands, many people don't have their own VR headsets. But a real estate agent can get one and conduct virtual tours in their office. As virtual reality devices become more widespread, the majority of people will be able to take VR property tours without leaving their homes.

And adoption of this technology is on the rise,

The use of VR technology in real estate enables all listed properties to be open around the clock. With the help of VR headsets, property buyers can visit houses and apartments at any time, without realtors needing to be there.

There's nothing quite like viewing a home in person, but some tours just feel like a waste of time. VR drastically reduces the amount of legwork by helping you spot immediate deal-breakers in the properties you're considering. When you don't have to visit every single house on your list, you can quickly identify a few top choices

"You could do real estate open houses with 360-degree views and have a client come to your office and check out 50 homes through a head-mounted display and then pick the top ones to visit in person," said Pachter.
Money
Developing feature-rich 3D virtual tours may seem expensive at first glance, but when compared to the investment in traditional real estate marketing, it actually allows for considerable cost savings. In tradition real estate marketing processes, not only do you need to stage properties, you also need to provide high-quality pictures and lots of print materials, particularly for new properties. VR helps you save a lot of money by using the power of 360-degree videos and computer graphics. Making a guided video tour around a property requires just a panoramic camera and basic rendering.
Breaks down geographical barriers
With VR technology, it doesn't matter where potential property buyers live. VR helps real estate agents showcase properties even to long-distance, or international buyers.