Continuous innovations in digital technologies are transforming how consumers and companies in the real estate industry interact.
Some emerging technologies presently changing the industry include augmented reality (AR) and smart glasses.
According to recent market research from ReportLinker, the global smart glasses market was valued at $218.86 million in 2022 and is expected to continue to grow through 2028, thanks to shifting consumer preferences.
At the same time, growing investments in smart glasses are advancing the market growth, as rising awareness among Gen Z and millennial consumers fuels their use throughout various sectors.
One of the sectors being impacted by the technology is real estate. Given how real estate has embraced technology, with online relators and virtual tours through your computer, there’s little surprise the emerging tech is impacting the sector.
Below, we’ll look at how smart glasses are changing the real estate industry specifically:
First-person Virtual Viewings
One of the key advantages of using smart glasses in real estate is the ability to deliver and communicate with far-away customers and agents.
Using smart glasses, people can look at properties ahead of time, even when they are far away.
Models like the new Ray-Ban Meta glasses have built-in cameras and mics that allow real estate agents to capture, record, and even live stream virtual house viewings.
These can be more immersive and engaging to viewers as customers get a first-person view of a property instead of a 3D rendering that may be great to get an idea of the property scope, but not for feeling like you’re really there.
A first-person viewing can also provide a more relatable estimation of a room’s size, for example, compared to viewing numbers on paper.
Real-time Property Information
Another emerging technology leveraged by smart glasses that is taking the real estate industry by storm is augmented reality (AR).
Using AR glasses like the newly showcased RayNeo X2 Lite during live, in-person tours, for example, companies and agents can display augmented information and 3D map navigation to add to the live viewing experience.
This way, customers can get real-time and immediate answers to their questions, and companies can also reduce paper use by digitally displaying critical information instead of printing pamphlets.
Augmented Reality Staging
For those trying to sell their homes, augmented reality can also transform how they stage their homes.
In a previous post, we discussed some of the best tips for staging your home, such as mastering interior lighting and eliminating unnecessary clutter.
Repairs and depersonalization are also key to effective staging, but these are difficult to do all at once if you’re trying to expedite a sale.
With AR glasses and 3D scans of a property, however, homeowners can skip this step and virtually augment different home and room showcases into the real environment.
Rather than physically placing objects in the space, AR glasses can superimpose realistic furniture, decoration, and accent pieces into the 3D scan of a room.
AR reality staging is ideal for properties that are completely vacant, have outdated furnishings (replacing these for the sole purpose of staging can be costly), or have tenants living in the space, as owners can save time and resources on staging the house for multiple viewers without adding to or altering the space physically.
3D Property Modeling
Finally, perhaps the most straightforward use of smart glasses in real estate is 3D property modeling.
3D rendering has become a popular tech in real estate recently, as it helps find workarounds for issues that agents may face when using the traditional 2D approach, which is misinterpretation and a lack of visualization.
As the tech grows, 3D property modeling can become even more intricate. The newly launched Apple Vision Pro allows users to view and interact with 3D models in minimized and life-size formats, and this technology can help provide a realistic view of properties for customers in the future, even before they are built.
Conclusion
To summarize, using smart glasses in the real estate industry impacts sellers, buyers, and agents involved.
Providing the additional layer of augmented information and 3D visualization that is accessible using wearable technology helps make communications and measurements easier.
For example, smart glasses with cameras and mics help make remote communications and collaborations possible while providing a unique perspective in addition to 3D and virtual viewings.
At the same time, technologies like AR and 3D rendering can also push the boundaries of property design and construction, ensuring homeowners get precisely what they envision and are paying for.
