3 Aspects of the Real Estate Industry That Can Benefit Hugely from the Metaverse

The opinions expressed by entrepreneurs contributors are their own.

The Metaverse already offers us a wealth of new experiences and has sparked endless speculation about the many possibilities for its future expansion. These possibilities, which begin to appear endless, are enjoyable and sometimes even convenient for consumers, which means they have the potential to be hugely lucrative for the companies that implement them.

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While the current interactions and excitement around the metaverse rely heavily on realistic fashion shows, concerts, and immersive video games, there are various apps that go beyond beyond pure entertainment.

The deep value of the metaverse lies in the pragmatic applications it can power. In a globalized world where distributed work and communication are on the increase, metaverse applications allow users to dialogue remotely in a much more collaborative and interactive setting. It removes tedious obligations and provides more convenient and efficient alternatives to in-person tasks, which sometimes require long wait times or long travels.

From the perspective of realistic augmented reality (AR) and virtual reality (VR) use cases, the real estate industry in particular stands to benefit immensely from the metaverse. From the start of building a new home to reselling it years later, the Metaverse and its immersive architecture can have a major impact. Here's how:

Related: How the Metaverse Will Impact Real Estate

Let's start at the very beginning of a house's life: its construction. Construction requires site visits and on-site effort and coordination. The site must be carefully surveyed and measured, and the construction must be meticulously planned and carried out. Human error can also lead to inefficiencies and inaccuracies in calculating metrics and determining progress.

In the metaverse, we could eventually create an application where sites can be mapped accurately, allowing engineers and contractors to visit a very realistic rendition of the actual site from their home or office. Not only would they be able to conduct site surveys, provide more accurate progress reports, and better estimate project delays, but they would also save a lot of time typically spent traveling to these various sites. Additionally, leveraging the metaverse, users can ask their social network for help on design ideas, floor plans, and more.

New applications can bridge the gap between the metaverse and home design through the use of AR to sketch floor plans and designs so construction and contracting can be done efficiently .

Related: How VR is Changing the Way You Build Your Home

Interior design is next on the roadmap after the finished construction of the house. Accurate virtual home modeling is a major benefit for the interior designer who can use the technology to gauge client interest in a variety of different options for the living room, bedroom, and home office. Currently, interior designers are limited to presenting sketches or 3D models accompanied by images of furniture and decoration. It can always be difficult for customers to visualize what that room will look like when they enter it. Now imagine they can.

The interior designer can use an app in the metaverse to design different variations of the same room, with different color palettes and furniture styles, and can even adjust the light coming through the window accordingly weather conditions or times of day. The customer can now browse a 3D virtual representation of the room and discover the different layout options on a rainy day, a sunny day...