Innovation in marketing has always moved in lockstep with technological progress. The companies that are most successful are undoubtedly those with effective marketing. The best marketers are usually extremely adept at using the latest trends in tech to showcase products or services. What this does is imply to their audiences that they operate at the very edge of technological advancement, meaning that what they offer is the best quality available.
The real estate market is no different. In fact, with the levels of investment that are typically involved, the level of persuasion needed to get stakeholders on board is arguably even higher. The need to differentiate yourself from the competition is greater. In a world where self-driving cars are a reality, an informative PowerPoint just won’t cut it.
Augmented Reality is more in line with the times. Beyond the glitzy marketing benefits, here are a few practical reasons why augmented reality and real estate make such a good match.
One of the greatest advantages of Augmented Reality in real estate is its ability to inspire. Augmented Reality for architecture engages the senses in a way that other media can’t. Users are able to walk through a virtual space and see concepts come to life. Incomplete projects can be clearly visualized and interacted with. This unique ability to actualize a concept virtually brings a vision as close to reality as one can without actually building it. When it is done right, it can be extremely compelling. The emotional impact from that is crucial to getting clients to appreciate the value of the envisioned project.
AR technologies are so engaging, they are able to hold one’s attention much longer than other media can. This gives you the opportunity to communicate more details, and hold your clients interest throughout. Potential tenants, buyers, or other investors can see and experience more proof to make the buy-in decision easier to make.
With the level of investment that goes into architectural projects, it is important that all stakeholders are on the same page. Miscommunication, unfulfilled expectations, or a lack of clarity can put investors off because they underestimate the project’s benefits, or exact a heavy price down the road if their high expectations are not met. Augmented Reality use in real estate tours, for example, helps clients see for themselves what the architecture has to offer.
The fact that you can provide an immersive experience of your architectural projects is another major argument for Augmented Reality use in real estate. A client can move around a building, taking in an aerial view of your structure, within its context. They can go into the building, see different elements, interact with some of the infrastructure, and preview interior designs. They are able to move across space and time. Seeing the building in different types of light based on time of day, and even in different seasons. All of this can be done at the client’s convenience from a digital device without having to actually visit the site. This is not just a convenience benefit, it means you can reach more potential buyers the world over instantly.
Instead of producing physical marketing and presentation materials, having virtual assets has significant cost-saving benefits for both you and potential buyers. AR can be shared with an unlimited number of people without incurring additional costs. Should designs change, there is no need to reproduce thousands of copies of printed marketing collateral – brochures and the like.
Building your architectural concepts in a virtual space also means that you do not have to construct scale models to present to investors, or show homes that are quite expensive and reach only a limited audience. You can achieve the same effect in a repeatable, editable, and scalable way. Augmented Reality real estate examples can be shown to clients who are unable to visit the site and they would have their own scale model or show home wherever they are.
By demonstrating buildings in a comprehensive and interactive way, AR and VR tech clarifies issues and answers stakeholder questions immediately. You can show subtleties, like the angle and effect of light at different times of the day, details about amenities, access to public infrastructure, and lots more. Dozens of small details are immediately evident to your clients, and they can explore for themselves and find answers to the questions that are most important to them. This clarity of communication is exceptionally crucial for instilling confidence on the part of investors, future tenants, or any other stakeholders at a very early stage.
At the end of the day, technological progress exists for the betterment of life. The real estate industry is also constantly staying abreast with the advancement of tech like VR and AR. The motivations for players in the industry – apart from just aesthetics and the need to impress – are practical. Things like convenience, effectiveness, and cost efficiency make the investment well worth it.