Digitization has swept across the world and has changed almost every industry – one such primary industry is the Real Estate. Gone are the days where you had to refer to newspapers and circle out the properties that you are interested in or find worthy agents to search your dream home. It’s time to welcome Real Estate 2.0!
According to a real estate report,
Technology in Real Estate
Real estate is one of the fastest growing industries in the world, and technology is helping its growth rate. In 2017, more than $5bn was invested in real estate technology (Forbes). This significant increase in investment was majorly driven by the use of technology in the industry, allowing apps like Airbnb to compete with some of the largest and most established real-estate companies and hotels. Now, the use of Augmented Reality (AR) and Virtual Reality (VR) is also helping improve an average homeowners experience.
Augmented Reality in Real Estate
The advantage of using AR is that information that is traditionally visualized in 2D can now be depicted in 3D for any user with a fair amount of intractability.
The first area AR can help in is finding actual listings for real-estate properties. Commercial Real Estate built an app that allows users to overlay listings for properties onto their camera, so they can see which properties are available in a crowded area such as downtown quite easily