Technology’s progress is unstoppable and businesses have benefited greatly from it. The real estate market in particular has capitalised on technological advances to drive its sales and marketing efforts.

Today, a new technology is paving the way for booming real estate sales: Augmented Reality. Augmented Reality or AR is the enhancement of real world environments by overlaying virtual data onto a physical space. It adds a visual representation of products or services to marketing collateral so that customers can access richer and more immersive information via their smart mobile devices. There is nothing more persuasive in sales than putting products right in the prospective customer’s hand. For this reason, augmented reality helps real estate marketing immensely and has become a must-have tool for marketers and sales people.

Here are four ways Augmented Reality can grab prospects in sales centres, and boost revenues like crazy:

1.Improved user engagement
Augmented Reality allows users to interact with the world around them. By simply booting up or triggering the Augmented Reality app on their smartphones and pointing them around, users are able to get additional information, such as price, locations, property specifications, and photos of houses or condominium units for sale or rent. They can even virtually walk around and check out everything, including where they can put their furniture or what paint colour should go on the walls. As for properties yet to be built, a property developer can use the technology to give virtual tours so prospective clients can see what a property would look like once completed.

2.Greater publicity
Augmented Reality offers a high impact way of capturing attention. Studies have shown that clients become more interested in a property that they have previewed in augmented Reality. Because of a presentation’s ingenuity, prospects are more predisposed to spread the word, whether online or offline, about what they had just experienced, and thus, generating more buzz.

3.Accessible ‘on-the-go’ experiences
Sometimes it is not feasible to take clients to a project site due to distance and time constraints. Since Augmented Reality apps are readily available on mobile devices of different platforms, it becomes much easier to reach potential property buyers. All the information prospects need is literally in the palm of their hands. They can even interact with the elements they are viewing—wherever they are, whatever time of day.

4.Increased business intelligence
Augmented Reality offers complete return on investment (RoI) measurability, manifesting itself in many ways, such as direct conversion to sales, dwell time, brand awareness and public relations (PR), to name a few benefits. The technology can also be used to collate consumer data and other customer relationship management (CRM) insights, giving real estate companies the business intelligence necessary to further develop marketing strategies and goals. Research in the psychology of sales indicates that people become personally attached to a product within the first 30 seconds of contact when presented with a physical or virtual item. Scientific evidence further shows that once attachment is formed, customers are more inclined to buy or even pay more for a product or service. However, putting a product in the customer’s hand is typically costly, difficult, dangerous or impossible…but augmented reality overcomes all of these. In an increasingly digitised marketplace, information is king and distribution its queen. This insight lies at the core of augmented reality, making it a 24/7 pure gold solution for anyone who is in the business of selling real estate.

For more on Augmented Reality in property marketing and sales, take a sneak peek at one of our apps.

1.Download The Veranda app for free via the App Store for iOS devices or Google Play for Android devices.
2.Click on the Experience button, scan The Veranda logo herein with your device and see the property development come alive.

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