What is virtual reality

Virtual reality (VR) is a simulated experience with a 3D environment created by digital technologies. The 3D environment can be from the real world or can be created purely by imagination.

A critical element of VR is that the simulated experience needs to be immersive and real. This is the biggest challenge for its implementation. Due to the continuing advance of digital technology, there are already a variety of commercially available VR equipments which offer good experience in gaming or virtual education. The most common VR equipment is composed of computer, display, tracking sensors, VR headset, sound system and controllers.     

As the VR technology is getting finer, we have started to see it being adopted in the real estate business in recent years. There could be different VR applications. The most promising application is virtual property tour for off-the-plan sales.

The advantage of using VR is prominent

Buying a property is a big decision. Purchasers normally inspect/compare a few properties before decision is made. For off-the-plan properties, purchasers traditionally rely on visiting the display suite and the information provided by developer/real estate agent to assess the property. However, the experience is fractured and partial. Purchasers are not able to develop an overall feeling of the property like a real inspection.

VR complements what is needed for a thorough expereience and offers more. With VR, purchasers are able to walk through the property and its surroundings with a close-to-real experience. Not only that, purchasers will be able to interact with the property by choosing different materials/colours, furniture/furniture layout, lightings, day/night, etc. This gives purchases a very thorough understanding of the property, and therefore builds up the emotional connections. Purchasers feel more confident to engage.

VR should not be used alone

Overall, VR offers a tool to present the property for off-the-plan sales. It should not replace other tools and especially the salesmanship. It should only be used by salesperson who understand it. The traditional tools such as display box, print materials, 2D virtual images should remain and complemented by the VR tool.

Real Estate Logic is commited to working on the most important issues in the real estate industry. After a study and trial of the VR technology, Real Estate Logic has built up the VR compacity together with its sister company.  The VR platform is technically tailored for off-the-plan sales. To make an inquiry, please email admin@realestatelogic.com.au.