How the Metaverse Can Improve the Real Estate Industry

Opinions expressed by Entrepreneur the contributors are theirs.

The Metaverse already offers us a wealth of new experiences and has sparked limitless speculation around the many avenues of its future expansion. These possibilities, which begin to appear endless, are enjoyable and sometimes even convenient for consumers, which means they have the potential to be hugely lucrative for the companies that implement them.



Antonio_Diaz | Getty Images

While the current interactions and excitement around the metaverse rely heavily on realistic fashion shows, concerts, and immersive video games, there are various applications that go beyond pure entertainment.

The deep value of the metaverse lies in the pragmatic applications it can power. In a globalized world where distributed work and communication are on the increase, metaverse applications allow users to dialogue remotely in a much more collaborative and interactive setting. It removes cumbersome obligations and provides more convenient and efficient alternatives to in-person tasks, which sometimes require long wait times or long-distance travel.

From the perspective of realistic use cases for augmented reality (AR) and virtual reality (VR) technology, the real estate industry in particular stands to benefit immensely from the metaverse. From the start of building a new home to reselling it years later, the Metaverse and its immersive architecture can have a major impact. Here’s how:

Related: How The Metaverse Will Impact Real Estate

Construction

Let’s start with the very beginning of the life of a house: its construction. Construction requires site visits and on-site effort and coordination. The site must be carefully surveyed and measured, and the construction must be meticulously planned and carried out. Human error can also lead to inefficiencies and inaccuracies in calculating metrics and determining progress.

In the metaverse, we could design an application where sites can be mapped accurately, allowing engineers and contractors to visit a very realistic interpretation of the actual site from their home or office. Not only would they be able to conduct site surveys, provide more accurate progress reports, and better estimate project delays, but they would also save a lot of time typically spent traveling to these various sites. Additionally, leveraging the metaverse, users can ask their social network for help on design ideas, floor plans, and more.

New applications can bridge the gap between the metaverse and home design through the use of AR to sketch floor plans and designs so construction and contracting can be done efficiently.

Related: How Virtual Reality Is Changing The Way You Build Your Home

Interior design

Interior design is next on the roadmap after the completed construction of the house. Accurate virtual home modeling is a major benefit for the interior designer who can use the technology to gauge client interest in a variety of different options for the living room, bedroom, and home office. Currently, interior designers are limited to presenting sketches or 3D models accompanied by images of furniture and decoration. It can always be difficult for customers to visualize what that room will look like when they enter it. Now imagine they can.

The interior designer could use an app in the metaverse to design different variations of the same room, with different color palettes and furniture styles, and they could even adjust the light coming through the window based on weather conditions or hours. of the day. The customer can now walk through a virtual 3D representation of the room and see the different layout options on a rainy day, a sunny afternoon or a chilly winter evening. The process of selecting an interior designer’s options has become more enjoyable and less likely to lead to disappointment.

New technology can allow buyers to literally view properties or spaces through virtualized staging and rendering prior to purchase. By merging the metaverse and an app that does so, shoppers in the near future will be able to interact with interior designers through the app.

Related: Prepare For Impact: It’s Time To Usher In The Metaverse

Real estate showcases

When the day comes to resell the home, the home viewing process can be made much easier for the realtor and potential buyers, thanks to VR apps in the Metaverse. Potential buyers living overseas and across the country could visit a virtual interpretation of the home in the metaverse and have a similar experience to people visiting in person, rather than relying on poorly recorded photos and videos. .

Buyers moving to a new state or country would no longer need to make expensive and inconvenient trips to choose a new home – they can visit as many as they want in the metaverse and get a really good feel for it. that it will be physically walking around in it. The real estate agent would also benefit, as metaverse VR/AR technology greatly expands the pool of potential buyers.

Real estate showcases via virtual reality are already taking place. There are VR options where potential buyers can use compatible VR headsets and smartphones to take virtual reality tours. It won’t be long before major developers are also leveraging this technology in their sales offices. They will create a mini-metaverse for each project they sell and allow potential buyers to tour their virtual development as well as the surrounding neighborhood. This immersive experience allows customers to fully envision a life around the property being sold.

The technology underlying the Metaverse has the potential to positively change so many aspects of our lives. Many of these applications are still years away, but when they are ready, they will have resounding impacts on so many industries by creating more efficient and convenient alternatives to existing systems and procedures.

#Metaverse #Improve #Real #Estate #Industry

Add Comment

%d bloggers like this: