The Role of Augmented Reality (AR) in Real Estate Sector

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Introduction

Augmented reality (AR) has been one tech revolutionary term that many are aware of and some of you might already be using applications based on it. In fact, mobile AR has been so popular in recent times that its market value in 2020 was calculated to be $12.59 billion and is expected to grow at a 31.38% CAGR between 2021 and 2027.

It wouldn’t be wrong to say that of all the industries, AR technology has played a significant role in taking the real estate industry to the next level. Augmented reality real estate has seen some popular growth in recent times owing to its multiple benefits.

It has changed the way realtors do business and encouraged them to take the much necessary step for digital transformation in the real estate business.
In this blog, you will learn in detail about augmented reality, the various ways it is transforming the real estate industry for good, its implementations, and more.

Read on to find out!

What is Augmented Reality?

Augmented reality or AR allows one to add more auditory, visual, or sensory elements to the real existing world with the use of technology. Implementation of this concept in mobile applications helps more than one vertical of business application and mobile computing.

The technology is well implemented in different applications that we use today. For instance, the Snapchat lenses, games like Pokemon Go, applications to find cars in a crowded parking area, apps for immersive training and learning experience in the healthcare sector, real estate applications presenting virtual tours, and more.

With such applications, Augmented reality has become a more essential part of our lives as it adds more to the existing environment and eases user experiences. Furthermore, look into the various ways it has affected the real estate industry.

How Augmented Reality Brought Revolution To the Real Estate Industry?

Early in the days when you wanted to purchase a property, you would need to visit a realtor’s office who would brief you on the available property listings and then take you to property tours. But, thanks to concepts like augmented reality and virtual reality, the scenario now has changed.

One can explore a number of available property options in a few clicks and take virtual property tours from wherever they are. It is not only convenient but time-saving and cost-efficient as one can explore all the available options quickly.

In fact, the decision time is shortened as users get to explore all their options and decide rather quickly. With the help of AR/ VR in real estate, imagining intangible products has been possible. Property buyers can also plan the interiors of their homes and see how they will appear when designed.

With elevated user experience and shortened decision time, augmented reality has contributed a great deal to the real estate industry. It has encouraged realtors and builders to take the much-necessary step towards the digital revolution and invest in mobile app development so they can provide elevated experiences and increase their conversion rate.

Benefits of AR in Real Estate Mobile App Development

Today, putting augmented reality and real estate together is a must if realtors want to bag lucrative deals and improve the user's viewing experience. AR can help realtors in more than one way to save these deals.

• Time-Saving

Mobile applications supported by augmented reality can save realtors as well as customers’ time as they would have to spend less time on property tours. Customers or property buyers can check out more prospective options in less time and decide rather quickly.

Meanwhile, realtors are also saved from the trouble of briefing the same property features to various customers again and again. Customers can shortlist and narrow down their preferences and then realtors have fewer options that need illustration.

• Possibility of visualizing end-product

The most common problem realtors face in marketing a particular property is visualizing how the end product would turn out to be for properties that are yet to be built. They might not be able to scrutinize a property and imagine if that particular property suits their requirements.

That’s where concepts like AR/VR in real estate and construction come into the picture. Augmented reality helps property viewers envision how a particular architectural design will turn out to be in a particular location. Thereby, it provides them with a clearer picture of the property that helps with the decision-making process.

• Accelerated decision

Since property buyers have fewer options to select from, it accelerates the decisioning process. One can quickly look through the available options by applying filters of their preferences and scrutinizing the few options they have in hand.

Unlike traditional methods of dealing with real estate property buying or selling experience, the new AR-based mobile apps are more than capable of quickening the decision process.

• Virtual tours

Real estate virtual tours are one of the most beneficial features one can add to their mobile app. It allows realtors to arrange virtual tours for customers from any place so they can check out the interior and exterior of the said property carefully.

Thanks to augmented reality, property buyers can also click pictures of their furniture and see how it appears in the new property they are willing to buy. It gives life to intangible products that couldn’t be viewed otherwise.

• Immersive viewing experiences

With high-quality pictures, 360-degree immersive images, and videos with descriptive audio, the viewing experience is sufficiently elevated. One can completely look into the pictures and decide if a particular property is their right choice or not.

• Cost and resource-saving

Real estate developers can now save more costs and resources with AR in the picture. Unlike before, they don’t have to spend huge amounts of money on traveling and resources to give property tours to customers. Rather, they can arrange for virtual presentations that can be re-used to give tours to other potential customers as well.

• Improved customer targeting and sales

It is obvious that mobile apps are a must-have for realtors, and the use of AR benefits them in more ways. And one of them is to reach out to more potential customers through the created mobile app. Realtors can target more audiences as the various property listings are made available to them in a few clicks. It helps with user engagement and may result in a boost in sales.

How is AR Different from VR?

Augmented reality adds elements to the real existing world. For instance, virtual objects can be added to a real-life setting to create a virtual setting for different purposes like entertainment, education, training, business, and more.

However, virtual reality creates an immersive and interactive simulation of a virtual world which is accessible when an individual wears a VR headset. Unlike AR, virtual reality doesn’t quite deal with the real world as the visual sensory of individuals are completely under the control of VR-aided devices.

In the case of real estate mobile applications, while AR helps add real objects to a virtual setting, VR helps in the arrangement of virtual property tours. Together, AR and VR in real estate can help realtors build immersive experiences and highly engaging mobile applications.

Top Real Estate Mobile Applications That Uses AR

Looking into augmented reality real estate examples is a must if you want to understand the way AR has transformed the real estate industry. It will help you see the ways AR has been implemented in mobile apps and its future scope in the development of real estate mobile apps.

1. Real AR

This augmented reality real estate app is especially helpful for individuals who are into the construction of new homes and office spaces. Clients can leverage AR-aided mobile apps to visualize how the architect will look for their home and see a life-size representation of the same.

It helps with -

• Visualization of property.
• Easy to create, sell, and market properties.
• Quick and simple to use.

2. Vera

It is a famous application that real estate designers, developers, architects, and property owners use to digitally reconstruct a house or building. It allows them to create three-dimensional designs of a building right from interior to exterior.

• This AR-guided application helps with -
• 3D visualizations.
• Digital reconstruction of properties.
• Hardware-free positional tracking.

3. Magic Plan

This augmented reality real estate app helps realtors market properties to potential buyers without even having a floor plan in place. Magic Plan app uses augmented reality to create smart floor plans using images of a plot that contains ceiling, wall, floor, doors, and other anchor points.

It helps with -

• Creation and editing of floor plans.
• Scanning the room.
• Planning DIY projects.

4. Safety Compass

This AR VR real estate app is extremely useful for architects and workers working on a site. They can scan a plot using the Safety Compass app and retrieve information on whether the same plot is hazardous or not.

It helps with -

• Access to live or real-time data.
• Illustrative safety information.
• Notify users about hazardous places.

5. ARki

ARki is one of the most desirable augmented reality real estate apps people use today. It uses augmented reality to show users how a particular project will look in the real environment. The application helps property buyers envision the property before it is constructed and helps realtors market it smoothly.

It helps with -

• Portable model distribution.
• Clear and seamless design communication with clients.
• Spatial representation and exploration.

Mentioned above are a few of the many augmented reality real estate apps that are present today. And when we look into the usage statistics, we can see an increase in the number of AR-guided apps because of its multiple benefits.

In the coming times, augmented reality is likely to add more to the existing digital setup of real estate deals. Nevertheless, it is as important to equip the right help as it is necessary to use the right technology. And for that, hiring the best app development agency is a must!

You need to hire a company that is well experienced in app development for the real estate sector and uses the latest technologies to create robust, engaging, and secure mobile apps. If you are looking to develop your real estate app with a smooth development experience, Auxesis Infotech is the name for you.

We are a renowned augmented reality real estate development company with a diligent team that has diverse experience in developing robust real estate applications. We ensure to use the technology to its full potential and create seamless UI and user experiences for your customers for a boost in engagement and sales.

Conclusion

Augmented reality has numerous applications in almost every industry today and real estate is no exception. It has changed the conventional way realtors and property buyers used to deal and reduced the complexities involved to a great extent.

For instance, virtual property tours, immersive images and videos, architectural staging, creating floor plans, and more exciting features are added to mobile apps, thanks to AR. Evidently, AR has transformed the real estate sector for good and it is here to stay.

So, why not leverage technologies like AR and develop immersive experiences with your mobile app? AR is surely capable of it and more!