Augmented reality is changing the landscape of the real estate business. For this reason, it currently has an industry worth of over $38 billion.
Whether you are a real estate agent or a potential home buyer, you stand to benefit from being exposed to this technology.
What ways can you make an augmented reality home work for you? Here are seven of the best ways to do it.
1. Offering Convenience
One of the biggest benefits of using this technology is that you can offer it to potential buyers. This gives buyers more flexibility as to where and when they will look at a house.
So, instead of having to schedule a visit to an open house one weekend or after a long day of work, a buyer can do this from the comfort of their own home. All that these buyers have to do is open up a screen and they can see this from their couch.
How can this help each side get a more convenient experience?
For the buyer, they can view the home at any time that they like. Then, if they like what they see from there, they could develop a more serious interest in the home as a result.
As for real estate agents, augmented reality gives them the convenience of not having to host as many people at open houses. Instead, they can pass some of these interested buyers onto augmented reality and allow them to view the home from there.
Essentially, it gives each side an alternative option to reach out to the other side.
2. More Flexibility
Going off of the above, home buyers can get much more flexibility with house hunting when they are presented with augmented reality.
How does this option give them flexibility? It allows people to widen their search.
In the old days, you used to have to drive to each house and hope it was open for viewings when you were interested in buying a home. That takes time, organization, and being close to that local area.
Augmented reality changes the game here because it allows people who are currently located far from that home to get that same access. With this technology, someone looking for a home in Los Angeles could view that home while sitting on their couch in New York City.
The United States is seeing more and more people move to different states. In 2021, nearly 19% of all movers in America ended up moving to a different state. This increased by more than two percent compared to two years prior.
If that rate has gone up without a lot of access to this technology, just imagine how many more people may be open to moving to a different state if they can see homes with augmented reality.
This gives buyers more options without starting their relocation process to a new area just yet. It could also offer them a chance to buy a house in an area they never expected to.
What does this do for real estate agents? It can potentially create more competition for a home if the home is attractive enough to buyers.
So, if real estate agents think they can attract buyers from outside of the local area, they should do everything they can to set this technology up for the homes they sell.
3. Renovation Delays
Another thing that real estate agents and home sellers have to account for is renovation delays. There are some homeowners who decide to take on major renovations for the home that they currently own before they decide to put the house on the market.
When this happens, these homeowners may be given a certain timeline as to when the renovations will be complete. However, something can go wrong, and as a result, the renovation may end up being behind schedule.
Some homeowners can't afford to wait much longer and need to start putting the house on the market anyway. Depending on what type of renovation a house is going through, it can be difficult to present a house under renovation in the best light.
That is where augmented reality comes into play. What this can do for you is buy you more time to get the house finished up and looking the way it is supposed to.
How do you do that? Offer tours of the house through augmented reality. With this technology, potential home buyers can get a better idea of what the house will look like once the renovation is finished.
They can see what it will end up looking like, and they may end up liking what they see. As a result, they could end up getting a clear image as to what it might be like to live in that home. Once that happens, buyers may be more invested in the home.
Considering that extensive home renovations could take up to one year to finish, it is best to have this technology as a contingency plan. You never know when a renovation delay is going to happen.
4. Staging the Home
When it comes to staging a home, it is usually in the best interest of the buyer to keep it as clear and as clean as possible. Unfortunately, this can be difficult to put into action if the seller is still living in the house.
This is especially the case if the buyer has young children or pets in the home. Just imagine having to clear odor from pets that go to the bathroom in the home or children's toys that they may leave on the ground every day.
For sellers, this can be an exhausting part of the process. They may even get overwhelmed and end up slacking on cleanliness.
What can sellers and real estate agents do about this? They can present the home with augmented reality instead.
Augmented reality allows the seller and the real estate agent to present the home in the best light possible. What this means is that they can show the home as spotless and show all of the rooms without clutter.
When it comes to selling a home, presentation is everything. People do not want to imagine other people living in their dream home and making a mess of it.
Showing a home this way can allow buyers to use their imagination more and come up with ideas as to what they would do with each room.
5. Increasing Home Value
Augmented reality can potentially change a home's value if it has the right exposure. There are a few reasons for this relating to some points above.
If you cannot show a house because of extensive renovations or a buyer can't see the house right away because they are not in the area, then this gives both sides a good alternative option.
As mentioned above, when this happens, it can potentially create more demand for that house. It could even get to the point where a seller gets an offer that is significantly above the asking price.
So, if you want to create more demand for homes, this can be a great way to do that.
6. Cutting Moving Costs
For people who are looking to move to a different state they may not be able to afford to go to their new location and look at houses before the actual move. Moving to a new area takes both time and money.
If someone is looking to make a move across the country, this can even involve flying. In the old days, that could mean either spending money on extra flights back and forth to look at houses or it could mean going to that area without committing to a home first.
No matter what option you take, it is going to cost you a decent amount of money. Augmented reality can help either cut those costs down drastically or eliminate them entirely. You can avoid spending money on extra travel or spending money on a hotel until you find a house that is right for you.
Moving is expensive enough as it is. Use augmented reality to keep those costs from going any higher.
7. Showing Potential
Finally, augmented reality has the ability to show what a home's true potential is. You can see it when it is looking its best and you can find a way to envision what to do with the home.
Some of the most creative and ambitious buyers may use this to their advantage and come up with ways to enhance the house even more. This could mean using certain rooms in each way or seeing clearly what needs to be added to this house to make it feel like a home.
See an Augmented Reality Home
This is everything that you need to know about augmented reality when it comes to showing homes. It is used for virtual home tours that make the house appear its best. Also, it can show people what a house will look like once renovations are complete.
Best of all, this gives buyers and real estate agents more flexibility and it offers more convenience.
Do you want to see an augmented reality home? Click here to get started.