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Buyers using virtual reality to buy luxury homes

NEW YORK – Sept. 14, 2015 – Virtual reality (VR) is currently being used to sell upscale properties listed by Sotheby’s International Realty, and some believe the technology will move into the mainstream within a few years.
The firm’s Matthew Hood Real Estate Group is using Samsung Gear VR to create virtual tours that allow customers to “walk” through luxury listings in Los Angeles, the Hamptons and New York City.
Right now, however, the technology is limited to the high-end market because it costs about $300 to $700 to perform the 3-D scans necessary to create the online tour.
“I can lead a VR tour remotely and even see where the client is looking, which allows me to address things like a kitchen counter style while they’re looking at it – just as I would in a real world tour,” says Hood.
Some believe Facebook paid $2 billion last year to acquire Oculus VR, in part so the social media site could skip over Realtors altogether.
However, Hood says, “Buying a home completely in VR may be possible, but not for another 15 to 20 years. There are complications involving homes that require expertise and continue to require third-party involvement.”
Source: Fortune (09/09/15) Gaudiosi, John
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Source: Florida Realtors Feed

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