Apartment hunting can prove to be a hassle at times, going through the innumerable pictures put online without the knowledge of how the apartment looks in reality. To guide people more seamlessly through this process, virtual and augmented reality has invaded the field of real estate. Virtual reality is an immersive simulation system that combines imaginary and reality together to provide a sensory experience. This enables the users to get a feel of another place by just wearing a pair of glasses. Virtual reality in apartment hunting lets you view more than just a photo of the apartment, it allows you to walk through your potential apartment. Not only that, it saves your time by helping you view the apartment right where you are.
Virtual reality has proved to be a game- changer in the real estate industry and helped agents grow their businesses by getting more clients and delivering top-level services. A survey shows how around 44% of the clients search for property online at first and this new technology can change their viewing experience. For many people, virtual reality has always been video games and entertainment but advancement in technology has brought it out to the field of real estate. A Northeastern University student, John Puma, opened up virtual reality tour start-up providing high-definition 360-degree photography called Wizio.
Wizio has already created more than 5,000 virtual reality tours since 2015 and ensures transparency between the broker and the client. It serves as a “virtual agent service” and enables the users to connect and submit their payments easily. Puma believes that they have been able to bridge the gap “between poor-quality photos and inaccurate listing info” and the clients. The team of four received guidance from student-led product development studio, Generate, which helped them test their 360 photography platform. Puma is confident about the success of Wizio and was glad about the support they received from Northeastern.