We have WoobaVR featuring as a guest contributor to give us some opinion about how VR is going fast and furious into real estate and interior design industy.
Real Estate and Interior Design VR
For real-estate related VR applications, they are made by either 360 pictures and videos or computer generated 3D models. There are mainly 2 use cases:
- To view an existing home
- To showcase interior and exterior design concepts of yet-to-be-built homes
Why use VR ?
By 2025, the VR HMD market is set to reach over $110 billion annually (based on a Goldman Sachs Report). With a fast growing infrastructure by major players (Facebook, Google, Samsung, just to name a few), devices that are VR-ready are becoming more powerful better and more affordable for the everyday consumer. Like all VR applications and games, the number 1 reason given about why VR is used is because of its ability to transport the viewer into the space, making them feel as if they’re really there. For real estate and interior design, the immersive experience makes VR a natural fit for usage in the real estate and interior design industry.
For the Property Developers/Agents/Sellers
With personalized viewings at any time and any place in the world (with an internet connection), this benefits the property seller through:
- Virtual rooms can be tailored for the exclusive clientele, making each viewing experience different and memorable.
- This increases buyers’ confidence to purchase property off-the-plan as they get unparalleled spatial awareness of the home they’re viewing.
- This experience is highly scalable which increases market reach and marketing ROI for the developer.
Exposure for Vendors
ID firms can work with VR studios like WoobaVR to showcase their work for both built and unbuilt spaces. Ideas that were too costly or too challenging to build in a showroom can now be viewed by millions around the world. Virtual tours can add onto the experience as a visualization aid during their pitch process, and ultimately give their client total control over how their project will turn out.
Furniture retailers can use VR to promote inventory that they were unable to purchase, either because they lacked storage space or budget. With VR, they can decorate homes with themes and signature looks, even without any furniture.
At a touch of a button, these vendors that supply furnishings can show homeowners what their whole living room floor will look like with black marble tiles, or white marble tiles. This saves massive amounts of time and money spent dealing with options and last minute changes in orders. VR enables the building process to be fine tuned and more time and cost efficient, before any major commitment is made by both parties.
For the Buyers
Working with the vendors with VR capabilities, buyers will get the first cut of how their homes will look like, even before it’s built. They get to see their choices being presented as they would appear in their own future homes. Homeowners are now able to see their ideas come to life instantly, in real time. Viewers will be able to see what time the sun comes into the bedroom. This saves time making trips down to a physical showroom, which (most of the time) are different from their own property.
With IKEA VR, motion controllers allow the user to interact with the virtual environment. Shoppers can open drawers and toggle between storage options around the house.
Although in its infancy, there are also VR editors where clients can have an immediate response to change their designs like colour and textures or placement to communicate their ideas with the vendors. And most importantly, with VR, the visuals can be passed on from the designers to the carpenters and furnishing providers, making it easier to refer to when renovating the property.
So if you are in the property or interior design or furniture business, why not come explore Virtual Reality as an opportunity to provide a unique and valuable experience for your customers.
Try out WoobaVR app on the Google Play store or iPhone App Store to experience a demo walkthrough on Asia’s first fully interactive VR platform for Real Estate. Contact them to create your very own VR property experience!
This article is co-written with Terrence Tan from WoobaVR.
(Feature image is from WoobaVR)