I just read a great article on forbes.com by Andrew Arnold . The article talks about how 80% of Millennials are looking to purchase a house, and how VR will be a major part of their purchase.
I agree with a lot of what Andrew has to say because not only do we produce cardboard viewers for a LOT of real estate agents, but we are also a preferred vendor of Matterport. We own 3 of Matterport's cameras to shoot the content and use their proprietary software to share that content online. They are the leader in this VR market.
Here is a tour that we shot with our Matterport camera and, of course, this can also be seen in VR with the touch of a button on your phone's screen.
What VR offers the home buyer is a great way to see the entire house by virtually “walking through” the space and seeing every inch of the house. This not only saves time for the real estate agent, who can purchase this tour for as little as .10 cents per square feet, but also for the buyer. In the old days, an agent might show 10 houses in person to the buyer before they purchase. With this technology they can show 10 house in VR, narrow it down to 3, and save the time of visiting 7 houses.
It’s a great solution for everyone involved in the purchase and sale of a house. As of now, it’s still a very small part of the real estate market. Mark Tepper, VP of Sales, America’s for Matterport says, “3D tours are only 3%-4% of the market this year,” but says, “Matterport expects to see 100% growth year over year in the use of VR.” That is still a very small percentage of the overall real estate market, but it is something that is growing and you can expect it to not go away anytime soon.
Another article on forbes.com says the VR headsets will sell 81.2 million units by 2021 according to industry analyst International Data Corporation. Industry experts also expect the AR/VR business to bring in over $100 billion by 2020. There are plenty of expectations for the industry to explode and real estate is a prime candidate to be one of the lead players in that growth.
To read Andrew Arnold’s full article, click here
Chief Marketing Officer at Unofficial Cardboard