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How does virtual reality affect the real estate industry?

03/23/2017

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In this week’s video, Peter Lorimer of PLG Estates geeks out over the uses of virtual reality in real estate right now.

If you have a massive property ($10 million-$12 million), there will naturally be international buyers interested. Virtual reality is an excellent way to show the property.

You just send the virtual reality headset to the buyers, and they get to virtually walk through the property.

But what about homes at a smaller price point? I firmly believe that VR will be used in all houses in the next two to four years. With VR, you can sit down with buyers in their home or in your office and show several properties in one sitting.

I don’t think it will replace going to the home, but it will compress the number of properties that buyers look at.

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