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Showing posts from January, 2019

5 Reasons Virtual Reality Will Revolutionize the Real Estate Industry

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According to Goldman Sachs , the Real Estate VR industry is predicted to amass $2.6bn in 2025. Furthermore, there is a potential user base of 1.4 million registered real estate agents and an aggregate real estate commissions market of $107 billion. This is the market that VR is set to disrupt. Virtual Reality isn’t so common, but at the same time many real estate agents are already using it to gain a competitive edge and that use is only set to increase. This new tech allows buyers to almost ‘feel’ the property and helps them to really understand what living there would be like. 1. Walk Through Properties That Are Still Under Construction The first reason why VR will revolutionize the Real Estate industry is also the most crucial – being able to walk through a 3D rendered visualization of a building project that is still under construction. This experience goes way beyond the flat images from catalogs or websites. With today’s technology, the textures and the lighting has r...

How technology is revolutionizing the real estate industry

Artificial intelligence (AI), the Internet of things (IoT), Augmented reality (AR), Big data are terms that we will hear regularly as time goes by. Technology has transformed almost every industry, including real estate. To stay relevant in the real estate sector, all stakeholders will have to adopt the latest technologies, using them to drive efficiencies in the life-cycle of a real estate project. Development: Construction and Project management Augmented Reality:  AR uses computer-generated images/models to visualize what the site/building will look like upon completion. AR allows developers to make changes in the design phase before the construction begins, thereby reducing change orders that result in an increase in cost and timelines. AR-enabled gear allows project managers to collect data related to the plot of land under development, such as the height, depth and width. This allows managers to plan procurement strategies accurately. In some countries, developers hav...