Arranging visits, showing properties, negotiating terms and prices – all of these tasks are extremely time-consuming, so it's no wonder that the average realtor works with a relatively small number of clients. Since most properties can be shown through virtual tours, realtors can work more productively. VR technology saves time for both clients and realtors. Thanks to VR, there's no need to travel from one property to another. Instead, potential property buyers can use VR headsets and enjoy immersive three-dimensional tours.
As the technology currently stands, many people don't have their own VR headsets. But a real estate agent can get one and conduct virtual tours in their office. As virtual reality devices become more widespread, the majority of people will be able to take VR property tours without leaving their homes.
And adoption of this technology is on the rise,
The use of VR technology in real estate enables all listed properties to be open around the clock. With the help of VR headsets, property buyers can visit houses and apartments at any time, without realtors needing to be there.
There's nothing quite like viewing a home in person, but some tours just feel like a waste of time. VR drastically reduces the amount of legwork by helping you spot immediate deal-breakers in the properties you're considering. When you don't have to visit every single house on your list, you can quickly identify a few top choices.
Michael Pachter, Analyst at Wedbush Securities told Fortune
that he believes Facebook purchased Oculus VR for $2 billion in 2014 for "VR's real estate potential".
"You could do real estate open houses with 360-degree views and have a client come to your office and check out 50 homes through a head-mounted display and then pick the top ones to visit in person," said Pachter.