Brokers, how’s your grasp of (virtual) reality?

VR technology is becoming a regular investment for some developers

New York Weekend Edition /
Dec.December 02, 2017 03:03 PM

(Credit: Pexels, front; Pixabay, back)

Construction can be incomplete (or non-existent) for brokers to begin giving tours — and not a tour of a model apartment — thanks to virtual reality (VR), which some developers are beginning to invest in heavily.

Developer K. Hovnanian Homes told the New York Post they have launched a dedicated team to develop VR tours for the majority of the projects across the U.S.

“We have around 200 developments across the country right now, and I would say maybe 150 of them have [VR tours],” said the developer’s Alexander Hovnanian, son of CEO Ara Hovnanian.

The use of the VR tours can be helpful for assuaging the worries of first-time buyers when the property is still under construction, or for sending a link to foreign buyers who aren’t able to travel to their property themselves.

The technology costs, though. A VR tour could cost anywhere from $6,000 to six figures, according to the Post.

[NYP] — E.K. Hudson


Related Articles

arrow_forward_ios
Eric Gordon
Eric Gordon on the evolution of the residential data game — and how to stay competitive in the new world
Eric Gordon on the evolution of the residential data game — and how to stay competitive in the new world
Big Tech locations in NYC
MAP: Here’s a look at all the Big Tech locations in NYC
MAP: Here’s a look at all the Big Tech locations in NYC
What will proptech look like in 2019 and beyond?
What will proptech look like in 2019 and beyond?
What will proptech look like in 2019 and beyond?
HRI founder Aaron Carr and Virginia Attorney General Mark Herring (Facebook, Getty)
Housing Rights probe pins voucher discrimination on VA landlords, brokers
Housing Rights probe pins voucher discrimination on VA landlords, brokers
School and office reopenings led to fewer reservations at the end of summer. (iStock)
Hamptons rental market had strong summer, begins to cool
Hamptons rental market had strong summer, begins to cool
Zillow CEO Rich Barton (Getty, iStock)
Zillow hits the brakes on iBuying
Zillow hits the brakes on iBuying
More than 27,000 Long Island households behind on rent
More than 27,000 Long Island households behind on rent
More than 27,000 Long Island households behind on rent
91 Sergio Franchi Drive and Sergio Franchi (Sotheby's, Getty)
Sergio Franchi’s 200-acre Connecticut estate lists for $12.6M
Sergio Franchi’s 200-acre Connecticut estate lists for $12.6M
arrow_forward_ios

The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

Loading...