3 Aspects of The Real Estate Industry That Can Benefit Immensely From Metaverse

As the metaverse gains more and more mainstream traction, people continue to discover exciting new use cases. It has already facilitated many new experiences, captured countless imaginations, and sparked fascinating speculation on the technology’s future. It’s fair to say that the possibilities appear to be endless, as well as practical, fun, and (crucially) appealing to consumers. That’s why bringing these possibilities to fruition could be lucrative for the right businesses.

Current metaverse experiences include immersive games, fashion events, and music performances, but numerous applications will push the technology beyond simple entertainment. The metaverse’s value runs deeper: it could provide users with practical applications that prove hugely beneficial as remote work and communicating across vast distances become so ingrained in daily life. The metaverse can make many tasks that need to be completed in person, often involving travel or frustrating wait times, much more efficient.

With regards to realistic use cases for both virtual reality (VR) and augmented reality (AR), the real estate industry could benefit from the metaverse’s ongoing expansion in different ways. Breaking ground on exciting new developments, such as new homes and commercial properties, then selling them on, may become remarkably different. Let’s take a closer look.

Taking Construction to the Next Level

A well-planned, well-executed construction phase is the critical starting point when creating any property of any size. But it can be incredibly complicated and time-consuming for even the most experienced teams.

Any site under construction must be inspected, surveyed, and monitored regularly to achieve the best results and ensure safety. Planning is usually meticulous and involves many people. Any form of human error, at any level, can cause problems, affecting the quality of the finished project and the rate at which it progresses.

But the metaverse could change all that. It will be possible to design a metaverse application that allows users to map sites accurately, enabling contractors, engineers, and other key figures to visit an extremely realistic version from their own office or home.

Everything from comprehensive site surveys to detailed progress reports could be conducted virtually. And with no need to physically travel to a real-world site, those involved would be able work in a more time-efficient way.

Furthermore, metaverse users would be able to reach out for inspiration through their social channels, gathering design suggestions, help with plans, and more. New applications incorporating  state-of-the-art AR technology may ultimately bring home design and the metaverse closer together, empowering users with the tools to draw up detailed designs and floor plans like never before.

Interior Design and Virtual Reality

Once a property has been constructed, interior design is the next phase to be completed. Interior designers can take advantage of virtual modeling of the property, using innovative technology to propose various options to clients, whether focusing on the bedroom, living room, or kitchen.

At the time of writing, interior designers can create 3D models or sketches, along with pictures of proposed furnishings and decor options, all of which fall somewhat short of the metaverse’s possibilities. Clients may still find it difficult to picture how a particular area of their home will look when finished — but within the metaverse, they will explore options in a whole new way.

An interior designer can utilize a metaverse application to draw up different versions of any room, experimenting with diverse approaches to color and furniture. They may adjust lighting to show clients how interior areas will look in different weather conditions and at contrasting times of day.

They can also explore virtual versions of a room, in full 3D, to experience those changes in detail. Not only will this reduce the risk of disappointment and wasted time, but it will also make the interior design process more exciting for clients.

Thanks to this amazing new technology, anyone looking to invest in a property can assess it via virtualized staging and rendering first. Combining the metaverse and an application designed for this purpose will allow buyers to communicate with interior designers through the app, cultivating a more convenient experience for everyone.

Presenting Properties in a Virtual World

A property owner planning to sell can open up their home to real estate agents and potential buyers through metaverse VR applications. Anyone interested in buying the property, regardless of their location, could explore a virtual recreation of the home and still get a true feel for it, almost like they would if they visited it in person.

That’s ideal for people looking to buy a home in a different country or state before they move, as they won’t need to pay for expensive flights and hotels while they explore their options in person. Nor would they have to make their judgments based on pictures and videos alone.

Instead, they will have the freedom to see as many properties as they want inside the metaverse, exploring them just as they would in the real world. Real estate agents would get to interact with a wider pool of potential buyers through VR and AR, too, increasing their chances of making a great sale.

Virtual property showcases have already taken place: users can enjoy VR tours of homes via headsets and compatible smartphones. Soon, developers will also be able to use this technology in their sales offices to help potential buyers make informed decisions.

Agencies could essentially build a tiny metaverse for each property for sale, giving prospective buyers a tour of the residence and the neighborhood. Buyers will be able to get a clearer idea of what living in a new home will be like, which would play a crucial part in choosing the right place.

The technology that the metaverse is built upon could have a positive effect on people’s lives in so many different ways. Some of these applications are still a long way off, but they will transform numerous industries when they arrive. How? By delivering more efficient, more practical, more convenient alternatives to current systems and methods.