‘Dawn Of The VR Era’: Proptech Adoption Exploding As CRE Goes Digital
Commercial real estate firms are rapidly trying to shed their tech-averse nature as they adapt to mandated social distancing, creating a demand surge for proptech companies that allow prospective tenants to tour spaces virtually.
Virtual Reality (VR) in Student Housing Market
Pix delivered multiple user experiences using a highly realistic virtual environment that greatly expedited the pre-leasing process during construction. This resulted in 93% of the units being pre-leased in the first year.
When lessees came to move in, they often said “This looks exactly like it did in Virtual Reality.”
Pix Interviewed on “Fried on Business” Radio
Matt Smith from RealNex and Mike Lerg from Pix were honored to be interviewed by Jeff Fried on “Fried on Business”.
During the interview we discuss some of the findings of our “State of the VR Market in Real Estate” Survey.
Virtual Reality (VR) Coming to the CRE Industry
Virtual Reality (VR), which allows us to view objects and places as if we were actually there, is expected to have a significant impact on the Commercial Real Estate (CRE) industry by allowing virtual tours of buildings, campuses, cities and even a planned development project as if it already existed. Users can even make customization decisions in real-time (for example changing decorations, interior finishes, furniture and amenities). This article provides a variety of examples of how the technology has been applied to different types of users to illustrate how readers can best incorporate this new technology into their business.
Forbes: VR Will Revolutionize Real Estate
The dawn of a new era is upon us -- one of full immersion into the digital world. It's an era that will be founded upon the technological revolution that's been silently brewing for more than a decade. Our once-dreamed-up reality of wedding the digital world with the physical world is no longer the stuff of fabled fairytales; it's happening, right here, right now. Even when we're presented with nice photos and video walkthroughs, it just isn't the same thing as physically moving through the space yourself. You get the chance to peer around the corner, step outside and survey the neighborhood, and get a gut feeling for what it's like to live in that home
GoldmanSachs: VR & Real Estate $2.6B in 2025
Virtual and Augmented Reality have the potential to become the next big computing platform. All around us are examples of where VR (which immerses the user in a virtual world) and AR (which overlays digital information on to the physical world) can reshape existing ways of doing things – from buying a new home... The application of VR and AR in real estate is predicted to generate an impressive $750 million revenue by 2020, and $2.6 billion in 2025. (See Page 23 for more details about the Real Estate VR Market)