Property and the unstoppable VR Headset Hype

Once considered the realm of Sci-fi movies, and although still very much in its infancy, property developers are now looking for ways to capitalise on a technology that is sure to have a huge impact on the way we purchase off-the-plan and new property. So what’s all the recent hype about?

There are some high-quality immersive virtual reality headsets hitting the consumer market for the first time. These devices could end up having a societal impact as substantial as the introduction of smartphones.

The biggest challenges working with such new technologies in the Real Estate industry is getting the consumer experience just right.

The questions we must first ask, does Virtual Reality add or improve the sales process?

This is the fundamental question when looking at any technology. If you can realize an ROI – it’s worthwhile. If it’s just for a gimmick, the money may be better spent elsewhere. Of course that gimmick might be the reason the prospect walked into your display suite, and met with your sales agents rather than a competitors display suite, but the question is will it help make the sale!

Will a prospect still feel the property is a spacious 67sqm two bedroom apartment after they’ve seen the living room packed with furniture in a render that looks a little too crowded?
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We use VR technology extensively in our touchscreen and App solutions, with Augmented 3D buildings and virtual walk through of apartments being very powerful sales tools.

We believe the best use of VR headset technology at the moment lies within visualisation of large masterplanned communities. It is a very effective means of ‘virtually’ standing on the front lawn of a future home, taking a peak at what afuture neighbours house will look like or for going for a stroll through the community facilities. This is now perhaps the best way to explore / visualise these masterplanned communities, but do require extensive 3D rendering of course so it is still costly.

So in conclusion what do we think about VR? We love it and already use it extensively in our Apps and touchscreens. Watch out however for the gimmicky VR Headsets and new technologies that are launched as the overall technology evolves. Most of the VR Headsets that we are seeing now will be gone relatively soon as the technology rapidly evolves. Like most new technology we can expect a rapid period of technologcal explosion followed by a period of consolidation as it matures. It is at this stage that readily available and commercially viable VR Headsets will become commonplace.

Check out Microsoft’s Hololense – this is really exciting new take on VR Headset technology and we think going to be a big hit!