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When the first major VR platforms came out, they were viewed as novelty items for the rich, it had a very exclusive niche around it, but as times changed, companies started picking up on the VR/AR revelation, especially the past two years.
Eventually, more affordable variants like the Oculus Rift and HTC Vive began to seep into consumer markets, but they were still seen mostly as tools with which to play video games or enjoy immersive experiences.
It is only in the past 5 years or so that enterprises started taking a second look at the technology and adapting it to their business needs. The real estate industry is no exception to this trend.
According to a study by Goldman-Sachs, an estimated 1.4 million realtors will be using the technology by 2025, which will almost certainly make up the bulk of the total specialists in this field. Though data on current use of VR in this industry is limited, we have seen notable examples with adoption by companies like Compass, Zillow, and Sotheby’s International Realty. These businesses have successfully adapted the technology to their operations, and in doing so, made the work of their realtors a little easier.
The aforementioned companies are ahead of the curve when it comes to the technological tools they have at their disposal, but it is not too late for the other Real Estate companies to get on the game of VR & AR as it’s undoubtedly the future to come.