They say a picture is worth a thousand words--which may be
particularly true when it comes to real estate. In the not so
distant future, property owners will be able to utilize Virtual
Reality (VR) and Augmented Reality (AR) applications to map
physical space, ushering the real estate industry into a new
normal.
With VR technology, users are able to immerse themselves in a
realistic replication of a physical space. AR technology
supplements can take such replication a step forward by projecting
computer generated images on top of the actual world. Both
technologies enable a potential buyer, tenant, or lender--wherever
they are in the world--to transport themselves into an actual
property as it currently exists or even how it might exist after
redevelopment.
