DETROIT, MI / ACCESSWIRE / April 22, 2021 / The combination of augmented reality (AR) and virtual reality (VR) has proved a potent one for the real estate market. Experienced consultant Pat Mazza has seen how these digital avenues have transformed the industry while receiving a major boost from 2020 conditions, which made off-site property analysis a popular model. Here's why that technology is having such an impact on the real estate industry, especially when it comes to important purchases.
VR Tours Help Prospective Buyers Nail the Details
Purchasing property (especially commercial property designed for a specific function) is a very detail-oriented process, and buyers require a thorough review before they will consider putting in a bid. In the past, this has presented some challenges to busy buyers and those living out of the area. Pat Mazza has seen how virtual reality has stepped in with realistic, recording tours that offer 360-degree views of the entire property that can be controlled by the user.
When it comes to scouting out spaces and understanding if they're sufficient for future plans, these VR tours offer a sufficient alternative to traditional meetings, saving money while satisfying viewers who need to see a property up close.
VR Helps Surmount COVID Restrictions and Similar Issues
Pat Mazza also notes that virtual reality tours and showcases allowed the real estate industry to continue operating throughout COVID restrictions, allowing buyers to review properties even if traveling or meeting in person wasn't an option. As with many COVID-related trends, Pat Mazza predicts that VR showcases are going to stick around long after COVID, as their ease-of-use and remote functionality offer many benefits.
It's also a boon to real estate agents, who can record a high-quality tour and then offer it to a variety of interested buyers at once, instead of taking more time with individual tours. During COVID, the technology also helped agents navigate showcases without needing to worry about disinfecting properties.
Pat Mazza Sees This Trend Speeding Up the Purchase Process
Real estate agents aren't the only ones seeing the time benefits of using VR: Buyers and sellers alike have found that the technology can shorten the purchase process. When buyers can quickly view properties in detail and succession in a short span of time, they can narrow down their prospective lists and submit bids more confidently. Sellers also benefit from the ability to showcase properties to multiple buyers at the same time, at any time of day. The result is more bids and a faster decision-making process, greatly speeding up specific stages. Pat Mazza sees this as another reason that VR real estate isn't going anywhere.
VR is Also a Boon to Staging and Planning
Finally, Pat Mazza notes that, in his experience, VR offers incredibly creative options for staging a property digitally when it would otherwise look blank and empty in person. This also opens the possibility for more advanced software that can be used to create future layouts and find out if the space is really what a buyer needs. This approach to real estate will only grow more common in the future.
The Pat Mazza
SOURCE: Pat Mazza