Marketing property developments with Virtual Reality and Augmented Reality

Is virtual reality and augmented reality revolutionizing the strategies used for marketing property developments? With the use of virtual walkthroughs, both developers and agents are able to begin marketing before a single brick has been laid. Fergus Byrne – Co-Founder of VMI Studios – gives us his thoughts on these technologies in an exclusive interview.

Very quickly for our readers, could you explain the difference between Augmented Reality (AR) and Virtual Reality (VR)?

Certainly! Augmented Reality is the overlaying of computer generated images/information with the assistance of technology onto what you see in everyday life. For example, one of the most common uses is putting a holographic model onto a real world table for multiple users to see. Virtual Reality is full immersion into a computer generated environment and totally removes users from their existing surroundings.

Out of the two technologies which do you see as having the most longevity and consumer support?

It is still early days, especially as Augmented Reality has only been around for 12-18 months. But I would expect AR in 5-10 years to be very common place. It’s potential in everyday life is amazingly diverse, and we expect it to be the next step up or major integration in the smart phone app society. AR is also much more native to the multi-user experience, making it a great sales tool. This being said, with VR there is a level of realism which is becoming truly lifelike and we see a big market for experiential VR.

With the recent release of Apple’s ARKit we’ve already seen some great examples of it in use, from floorplan mapping to tape measures, what else do you expect to see developed for the property industry and do you think this is the long awaited push that will finally bring it to the mainstream?

100%, there are some really creative avenues being pushed with AR now that it is becoming more freely available, and Apples ARKit has only helped push it further into the mainstream. Developers are already working on applications to improve resource use in construction by decreasing waste, replace Architectural models, see buildings in full scale before construction starts, share real time BIM (Building Information Modelling) models and use ArcGIS ((Geographic Information Systems) data to track traffic around proposed sites. This really is the tip of the ice berg and a very exciting time.

Before considering offering a VR or AR viewing service to their clients, where and/or how can a developer experience your service?

For VR we have multiple sites and experiences across the country such as the Stanhope Plc sales and marketing suite for BBC Television Centre, Matt Collishaw’s Threshold exhibition which is currently touring the UK and Delph Property Group’s Hallmark site in Manchester. We have also set our office up as a Virtual Reality marketing suite and we offer free demonstrations to interested parties. For AR we are offering free demonstrations at potential client’s office, using the Microsoft Hololens of projects we have produced and consulting on future possibilities and feasibility.

360 degree photos have been around for 10+ years and available in numerous mobile apps, why would you recommend a developer use a VR specialist agency rather than doing it themselves?

VR creates a great sense of scale to the user. All of our experiences are made using architects’ CAD data, so when a potential buyer is immersed in VR, they really do get a sense of where they will be living. Also in VR, you have the potential to add multiple furnishing and finishes styles to kitchens, bathrooms etc. This allows buyers to specify, and more importantly see their new home potentially before construction has even started.

We’ve seen VR used in plenty of unique ways so far from gaming to interactive movie experience but what other markets can make use of VR?

Imagine being able to view your hotel room before you’ve book, and experiencing the views. Engineers remote troubleshooting a technical fault, Top level surgeons being able to operate in real time on a patient from across the globe. These technologies have only just begun to be explored, and there potential for implementation is astronomical.

Do you think Augmented Reality & Virtual Reality could replace show homes?

There is a lot of room for potential, the absolute extreme is that agents make house calls and bring the marketing suite to the buyer. Or the suite becomes a blank canvas which the Augmented or Virtual reality experiences can overlay upon. However, some people prefer something more tangible, so I expect something in the middle where the show homes become the experiential introduction prior to using Virtual or Augmented Reality.

Can these technologies improve the sales process? Speed it up?

For certain, we regularly have clients feedback that virtual reality especially has helped improve the speed of sales and in some cases has doubled sales within a given timeframe. There was a recent report in the Manchester Evening News, that our Virtual Reality work with Delph Group doubled initial sales of their site in Manchester’s Green Quarter.

What do developers need to consider before using these technologies? what do they need?

Architectural files are a must, preferably in DWG format in order to create an accurate sense of scale in VR, along with finishes schedules, landscaping and interior design. With all of these elements we can create some truly stunning experiences. Augmented Reality also has such broad potential that a clear vision of what the experience will be used for really helps when we come to story board prior to development.

If developers want to look into using these technologies, what is the first step?

Give us a call and we can arrange for a free demonstration and discussion with how best to progress their project.

What do you see as the next evolution in merging of technology and property?

The biggest push that we have seen so far, is how can we make the industry more cost effective. How can this technology be used to refine the financial waste within construction and VR / AR have the potential to do this? If you can build your site, on site, without having to touch brick and mortar – you can then troubleshoot all potential issues before they arise. Driving costs down and potentially providing more sustainable housing for the future.

For more information about how VR and AR can help your business, visit the VMI Studio website