How VR is disrupting the real estate business and making it better
One of the differentiators between successful Disruptive Technologies and those that never seem to leave the R&D stage is market acceptance, which is fueled by usable applications and products. While there has been much talk over the uses of augmented reality and virtual reality, including at Apple’s (AAPL) last WWDC event, the number of related disruptive applications have been few and far between… with the exception of real estate. Not quite the market one would expect, but then again industry disruption can take on many forms across a number of industries.
There’s great optimism associated with the promise of VR, and revenues from this industry are expected to reach $13 billion in this year. Despite the optimism, widespread adoption of VR has remained elusive. For real estate, however, the potential of VR is being reality quickly.
VR is a newcomer to a real estate industry heavily focused on customer experience and ease of access. There exist many pain points in real estate that VR solves for renters and investors. These include buying or renting a property sight unseen, touring homes with potential renters, envisioning fix and flips, and so much more. In short, VR is changing the real estate world. Here are some of the ways that investors and tenants will be affected — for the better.
