The future of home showings is virtual reality

How virtual reality is going to change real estate
  • Virtual reality is going to alter the real estate industry fundamentally.
  • Agents are critical to guide people through the most complex transaction of their lives.
  • Virtual closing tables could dramatically help speed up the closing process.

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It’s late Friday evening, and the Smiths have just put the kids to bed. A subtle chime rings from the TV, alerting them of the impending meeting with Roger, their digital Realtor. Mr. and Mrs. Smith make their way to the family room where two black virtual reality (VR) headsets await. Roger greets them both in the virtual realm and explains he has set aside 10 homes for them to experience. The Smiths are eager to get started. After just 45 minutes, the home tour is complete and the Smiths have Roger write up an offer for their favorite home. Is this the future of homebuying? As long as property has been sold, the method for evaluating real estate has largely remained the same. It is a real asset which requires one to physically view the property in order to correctly assess its shape, use, condition and viability. As the process has become more complicated -- largely due to ever-more-complex laws -- it is this basic tenet of physically viewing a property which has remai...