As mentioned in the previous posting “Extended Reality” (XR) includes: Virtual Reality (VR), 360 Images & Videos (360), Augmented Reality (AR), and Mixed reality (MR).
Each of these forms of “reality” have their strengths and weakness when applied to the real estate market, their intended uses, and distribution methods.
This blog post covers the benefits of Virtual Reality (VR), and 360 Images & Videos. The next posting will cover evolving technologies of Augmented and Mixed Realities (AR / MR).
Virtual Reality (VR)
VR is best suited to experience virtual environments that are 100% computer generated. Although fully Immersive, VR using a computer-based head mounted display (HMD) – like the HTC Vive or Oculus Rift, provide the highest level of immersion.
In contrast, WebVR experiences (like Pix QuickTour) can be viewed through your smartphone using an inexpensive HMD like the Google Cardboard or other collapsible frame. But they are most often simply viewed through the 2D screen (e.g. smartphones, tablets, laptops, and PCs) as though you’re looking through a window that you can freely control, navigate, and make customized changes to the 3D environment.
The cost to produce WebVR content has greatly reduced over the last year… For example, a QuickTour of a virtual 3-bedroom apartment or condominium can be created and published online for as little as $500, or a 10,000 sf office space for as little as $1,000.
For properties that are in the design or construction phase (and simply do not yet exist) VR allows designers, owners, and buyers to develop a truly common and accurate understanding of what the building will look like from a human scale by walking through the space, or by flying around and over it.
This is also ideal for pre-leasing and pre-sales, as the client is able to personally experience and customize the property long before its built… which is more effective than traditional 2D renderings and videos.
WebVR provides most of the benefits of computer-based VR without the costs to acquire and maintain the dedicated equipment, physical space, or costly updates to the 3D scenes… and yet it provides an unlimited reach into the market… as anyone with a web browser can freely explore and modify these virtual properties.
360-based content allows the user to explore a series of spherical images or videos along predetermined paths. When based on photographic images, this is ideal for depicting a property the way it is (provided the property is camera-ready), and is very cost-effective, but it does not allow the user to freely navigate and look at any area from any location, or more importantly make client-specific changes to the virtual environment in the way that WebVR can.
However, when rendered from a computer generated virtual environment, 360 images and videos provide an excellent means of distributing a large VR scene (typically requiring a computer-based system) to any mobile device. To personally experience rendered 360 videos and images depicting an apartment complex before construction, Click HERE. The actual application is available for you to explore via a link at the bottom of the webpage.
To learn how Augmented and Mixed Reality (AR / MR) can benefit the CRE industry, see the upcoming Part 3 of this topic.
Try a risk-free demonstration to see how Pix-VR can give your business the edge it needs to compete in the modern market.