If you’re involved in the real estate industry, chances are you’ve heard a lot about XR experiences lately. But what exactly are they? XR stands for extended reality, and it includes three different types of reality experiences: virtual reality (VR), augmented reality (AR), and mixed reality (MR). This blog post will explain what each of these experiences is and how they’re being used in the real estate industry.
Virtual Reality (VR)
Virtual reality is a completely immersive experience that feels just like real life. When you put on a VR headset, you’re transported to a completely different world where you can interact with your surroundings. This technology is often used for entertainment and gaming, but it also has a wide variety of applications in the real estate industry.
One of the ways that VR can be applied to real estate is through virtual property tours. Sales agents can show potential buyers a property before it has even been built. This is hugely impactful for off-the-plan property sales and when selling internationally or interstate. It can also be used for renovations and remodeling of homes. By immersing yourself in the space, you can visualize exactly what the future space will look and feel like.
Augmented Reality (AR)
Augmented reality is similar to virtual reality, except that it doesn’t transport you to a completely different world. Instead, it overlays digital information on top of the real world. AR is also often used for gaming and entertainment purposes, but it also has a lot of potential applications in the real estate industry. For example, AR can be used to help people visualize what a piece of furniture would look like in a room or what a new paint color would look like on a wall. AR can also provide an alternative walkthrough experience to VR. Rather than putting on a headset to explore unbuilt property, you can use a mobile device as a window into the virtual world and see what the future space will look like.
Mixed Reality (MR)
Mixed reality is a combination of virtual reality and augmented reality. With MR, digital information is overlayed on top of the real world, but it’s also interactive. This means that you can interact with your surroundings as if they were really there. MR has the potential to be a powerful collaboration tool in the real estate industry between design professionals and their clients.
XR experiences are becoming increasingly popular in the real estate industry as more and more people start to use them for things like tours of properties before they’re even built and visualization of remodeled spaces. If you’re not already using XR in your business, now is the time to start!
See how some of our partners are using virtual and augmented reality on their projects.