Industries that fail to change as technology evolves, always fall behind.
Hence, technology has been a catalyst in business industry. One of the industries which have experienced this change is the real estate industry. These days real estate companies prefer collaborating with Mixed Reality company to revamp their business process. MR for real estate has turned into a hot trend.
Gone are those days of traditional real estate projects display and property dealing. By and large, purchasing a home or land nowadays seems a lot more convenient than how people used to buy real estate a few years back.
Most people initiate their search online. Some even enjoy a virtual tour of the real estate project site before they make the purchase decisions.
Nowadays, while discussing real estate projects, companies leverage Mixed Reality technology. Yet another fascinating thing is that people are now buying real estate NFTs to own a house, office space, or land.
Hence, advanced technologies like Virtual Reality and Mixed Reality are essential in easing various processes these days. Significant property management companies are striving to leverage VR and MR for the real estate industry.
In fact, using MR in the real estate space offers organizations ample scope to revamp property analysis, marketing, and transaction.
Let’s magnify all the aspects of MR solutions for the real estate industry and how it is transforming the industry.
What Is MR for Real Estate
- The global real estate market will grow to $3741.06 billion in 2022. (The Business Research Company)
- While the property management market worldwide will rise to $37.25 billion by 2029. (Fortune Business Insights)
- And the value of the global Mixed Reality market will become $3.7 billion in 2025. (Statista)
These statistics may seem different from one another if we go through them individually. However, taking a close look at them, one can see that each sector has its impact on the other, especially MR for real estate.
- Similar to the other immersive technologies, Mixed Reality also involves the amalgamation of the real and digital world.
- MR experiences can include real-time computer graphics which integrate the users’ surroundings.
- However, like Virtual Reality, MR solutions do not cut off the user’s connection to the real world. Much like Augmented Reality, MR enables digital holographic elements to coexist with real-world objects.
- MR solutions for the real estate industry have brought revolutions to the traditional way of business and customer handling.
- From Acrobats to Matterport, large businesses in the real estate space are now exploring MR solutions.
- MR for real estate facilitates the property design and construction process.
- Moreover, with MR solutions, real estate agents can display the property or the construction site to customers with the highest efficiency.
- Almost four million commercial and residential real estate agents worldwide have utilized Matterport’s VR platform. In fact, the global visitors of the Matterport VR platform have surpassed almost 70 million. (Yahoo Finance)
But why do real estate companies and their agents are crazing over MR solutions?
Unless we analyze the benefits Mixed Reality offers to the real estate industry, we may not be able to find the answer.
Benefits That MR For Real Estate Offers To the Industry
Mixed Reality solutions for real estate represent a novel way to experience real estate projects and construction.
It offers countless perks to the real estate industry. Some of them are:
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Locating Real Estate Properties
Suppose you want to buy a commercial property. What would you obviously do?
You will spend weeks or even months locating and researching properties. And then you will spend days visiting the real estate sites, one by one.
- Surprisingly, Mixed Reality technology simplifies the tasks associated with property locating, researching, and visiting the sites.
- This holographic technology lets clients check out site maps of multiple properties simultaneously, staying within the comfort of their homes. Hence, MR for real estate has brought comfortability also.
- Additionally, MR solutions also allow the buyers to look into the properties in their neighborhood without visiting them physically.
Effective Property Visualization
- Being an offshoot of the immersive technology, MR ensures a 360-degree immersive and engaging walk-through of the commercial properties.
- So, it is clear that MR offers customers a personalized real estate property buying experience.
- For example, Microsoft Hololens ports buyers into the immersive world of real estate properties. Property buyers can visualize the exterior and interior of properties before purchasing.
- Additionally, MR technology offers real-time data of the property like its dimensions, measurements of each room, detailed statistics, Etc., using holograms.
- It boosts customer satisfaction levels undoubtedly.
Architectural Projects Becomes Alive
- MR technology breaths life to architectural plans and designs.
- On the one hand, MR solutions let potential buyers visualize the high-tech photorealistic architectural designs of walls, floors, ceilings, Etc. While on the other hand, it also offers 3D rendering services.
- Moreover, MR solutions transform the look of property space. Architectural remodelling becomes as easy as pie.
Immersive Interior Decoration
- Mixed Reality technology also allows the clients to experience the interior decoration of properties virtually.
- With MR solutions, buyers can customize the interior designs, furniture, Etc., according to their individual preferences.
- In light of the truth, MR solutions have made the interior decoration of apartments, houses, and office spaces more accessible and fun. Earlier, clients needed to go through hundreds of pictures to dig out the interior design of their taste. Now, they need MR solutions to decorate the interior virtually first before they do it in reality.
Saving Construction Time
- There should not be any confusion between the real estate design and construction teams. Confusions can hinder productivity.
- MR solutions enable real estate development companies to improve productivity.
- MR solutions for real estate management help teams collaborate and eliminate confusion through immersive 3D models.
- Moreover, cloud integration allows the designers to upgrade their designs so that the workers on the construction site can check out the plan anytime.
Mixed Reality solutions for the real estate industry hold great potential to transform every corner of the industry.
MR for real estate brings countless business opportunities to commercial real estate development and management space. Real estate companies can partner with a reputable Mixed Reality or NFT development company to harness the power of MR to enhance their productivity and customer experience.