How AI and VR Are Revolutionizing the Housing Market
Artificial intelligence (AI) and virtual reality (VR) have revolutionized real estate marketing, virtual touring, and the entire homebuying and selling process as a whole. More specifically, AI is being used in the real estate sector to identify potential buyers and sellers through predictive analytics, to price homes more accurately by analyzing historical sales data, local market trends, and property features, and to help investors make more informed decisions about where to invest their money, the National Association of Realtors (NAR) reports.
In addition, VR is being used in the housing market to deliver virtual home tours to prospective buyers, a useful tool for out-of-state house hunters or those unable to physically visit the homes they want to see.
Staging: VR can be used to virtually stage properties. Using augmented reality (AR), which is a technology that superimposes a computer-generated image on a user's view of the real world, combined with VR, can help buyers visualize how a property would look with different furniture and décor. This can be especially helpful for buyers who are looking for a fixer-upper or who want to see how a property would look after it has been renovated.