Virtual Reality is one of the Key Technologies Transforming the Real Estate Industry

The future of real estate may very well hinge on virtual reality. More and more reports indicate VR has the potential to transform the industry as a whole. Combined with holograms and drones, the future looks rather promising. Innovative technologies often make their mark on existing industries once they are properly embraced.

Real Estate Industry Gets a VR Boost

It is very difficult to determine the future of real estate as an industry. A lot of things are happening all at once. Not all of these ventures will be successful in making a long-term impact. For now, it seems there is a growing focus on three key innovative technologies. Drones, holograms, and virtual reality are all making their mark on the industry in this day and age.

Combined with automation and digitization, these changes were inevitable. Application of technology to brick and mortar can transform this industry as people know it today. This goes well beyond the sales of real estate properties but also encompasses the entire building process. As virtual reality is already making construction a safer industry, it is only normal options in real estate are being explored as well.

A new report by the RICS and Morphosis shows things are heading in a rather interesting direction. Although the viability of VR, drones, and holograms has yet to be fully determined, initial trials offer some promising results in this regard. So much even that VR, together with AI ad drone technology is on the verge of becoming the norm in this industry. A bold statement, albeit it remains to be seen if the rest of the world agrees with this sentiment.

Even so, one cannot ignore the benefits offered by these technologies. In terms of efficiently, all three technologies know no equal. Building owners will even be able to oversee their portfolios and modifications through a dashboard displaying all of the relevant information. Having access to this information through virtual reality can introduce a lot of new opportunities waiting to be explored.

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By JP Buntinx

JP Buntinx is a FinTech, VR, and Bitcoin enthusiast living in Belgium.