Real estate industry

Here’s why the real estate industry should embrace the metaverse

Many people are still confused as to what the metaverse is, and even more confused as to what it is Go be. Despite the initial rush to buy metaverse properties, there is no doubt that the buzz has died down in many industries. Why? The short answer is that there is no utility attached to NFTs; The world is still figuring out the best goal for them, the smartest ways to take advantage of it, and how they’re really getting things done (if at all) when it comes to improving user experience. and boost brand sales. Many industries find that virtual property simply does not bring any return on investment.

Look at it this way: is Gucci need a store in the metaverse? What does this do for the company’s bottom line? Maybe not much, and that’s why the “gold rush” we saw from companies when the metaverse first launched has come to a screeching halt. Do consumers really want to walk into a physical store and put on Oculus glasses for a virtual reality shopping experience? I’m sure some do! But you probably just want to feel the fabric, try on the clothes, and walk around in real, physical shoes — and virtual reality, while fun, isn’t necessary for that. In fact, it just creates another step (or barrier, depending on how you look at it) between the customer and the purchase. The use of technology should make things easier, not harder. There are still a lot of issues to resolve before the metaverse integration becomes truly useful and seamless. But here’s the good news: where other industries are still struggling to find the best use of the metaverse, real estate is reaping a clear and immediate benefit.

Remember when I said that using technology should make things easier? In this case, it is: getting a customer to put on a pair of Oculus glasses to visit several homes in an hour, or to walk around a property 10,000 kilometers away? Now it is make things easier. It is a clear utility that we can measure. The metaverse has the potential to bring a listing or even an entire city to a buyer rather than bringing a buyer to a listing. Virtual reality saves customers time, increases what you can show them as an agent, and in many cases makes the need for train rides, car rides, and flights obsolete. Whenever technology makes a process more efficient, it’s worth implementing.

So, should you consider involving your agency (or yourself) in the metaverse? I say yes. The virtual sale of real estate is still relatively new, and the sale of real estate using virtual reality is even newer, but the metaverse offers obvious utility in our field. It would be wise for agents to take this seriously and start getting involved now – after all, who knows what the future may hold?

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