Augmented Reality: the Latest in Real Estate Technology

Cambria, along with home furnishers like Ikea and Wayfair, are at the forefront of the home augmented reality revolution. By superimposing a computer-generated image of an object into real life, augmented reality is allowing consumers to see what a potential purchase will look like in its exact location. Some experts predict that in just a few years, mobile augmented reality tools will surpass the use of virtual reality, where one is fully immersed in a computer-generated world via goggles or a headset.

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Pandora Reality, an augmented reality developer, builds tools for brokers and developers who want to show the potential of an unfinished space.

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Pandora Reality

Although the technology behind augmented reality has been around for years, the average consumer had little to do with it until last summer, when Apple released ARKit, a tool kit that allows developers to make augmented reality apps. Then Apple also made its latest operating system augmented reality compatible, suddenly allowing millions of people to use any augmented reality tool available through the app store.

Tim Merel, managing director of Digi-Capital, a Menlo Park, Calif.-based augmented and virtual reality adviser, predicted that by the end of 2018, there could be as many as 900 million smartphones and tablets capable of supporting augmented reality apps created from tool kits like Apple’s ARKit, Google’s ARCore and Facebook’s Camera Effects. And that number could grow to more than three billion by 2021.

At the moment, developers are creating simple tools. For example, MeasureKit is essentially a digital ruler, while PLNAR helps a user take dimensions of a room to create a floor plan. And Homesnap, a real estate search engine, has a “Walk the Property Lines” tool that shows the property lines around any home.

When you’re able to swap or move images at a push of a button, you can convey the “what-ifs instantaneously” to clients, making the decision-making process quicker, said Matthew Miller, the founder of StudioLAB, a Manhattan architectural and design firm.

With new technology, it’s all about the ease of use, said Brian Peters, chief marketing officer at Cambria. “I made sure both my 12-year-old daughter and my 41-year-old wife were able to use the app,” he said.

Augmented reality is also helpful for home-goods…

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