Would You Wear a Virtual Reality Headset to Buy a House?

Technology impacts real estate is some very profound ways. Websites like Zillow and Trulia have made finding a home easier, and smart home systems are starting to play an increasingly important role in staging a house. Real estate agents can set the lights and music while showing a home to a prospective client with a mere tap of a button on a smartphone.

So what will be the next wave of high-tech home buying and selling? According to a Coldwell Banker Real Estate survey of 3,000 U.S. adults, virtual reality is poised to become the next big thing in real estate. The survey respondents, who were polled online by Harris Poll, appear to be ready to embrace virtual reality as a way to visualize what is normally left to the imagination. How would a couch look in this corner? Is there room for a piece of art on this wall? What if the flooring was hardwood instead of tile? By donning a virtual reality headset, it’s possible to personalize a home before purchasing it.

The notion of virtual reality tours is so appealing that it is almost on par with that of traditional video tours. For those considering a home purchase in the future, 84 percent said they would like to see video footage, while 77 percent would like the ability to take VR house tours before actually visiting prospective homes.

Favorable Virtual Reality Real Estate Applications

• 77 percent would love to be able to take VR house tours before actually visiting homes.
• 84 percent would love to be able to see video footage of prospective homes before visiting.
• 68 percent would love to use VR to see how their current furniture would fit in prospective home.
• 62 percent would be more likely to choose a real estate agent who offered VR hour tour capabilities as a service over one that did not.

“It’s crucial that the real estate industry stays on the cutting edge of technology. From virtual reality to smart home tech, consumers are now interacting with these technologies in different capacities and expect the same when working with a real estate professional,” says Charlie Young, president and CEO of Coldwell Banker Real Estate LLC. “Coldwell Banker Real Estate is committed to connecting our independent affiliate agents with the best technology to better serve and counsel home buyers and sellers.”

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