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RealNex affiliate Pix and CRETech Release State of The VR Market in Real Estate 2018 Survey Results

Posted by RealNex on Dec 18, 2018 11:01:08 AM

Innovative Sector Found to be in Early Stages of Adoption and Growth

Stafford, TX (December 18, 2018)– RealNex, a commercial real estate technology company, together with its 3D Virtual Reality affiliate Pix and industry partner CRETech announced today the release of its inaugural survey of current use and future prospects for 3D VR in the real estate industry

The results provide instructive insight into who is using VR, how they are using it and what obstacles are hindering greater adoption. These results also enable market participants to better assess the competitive landscape and understand how this cutting-edge technology is changing the manner in which business is being conducted.

The prevailing conclusion from the survey suggests that, while adoption and regular usage of VR remains low, most firms are actively evaluating its use. Approximately two-thirds of the respondents indicated that they are currently using or plan to use VR in the near future. Not surprisingly, architecture and engineering firms are the most active users, while 68% of investors are inclined to seek opportunities to employ the technology. Interestingly, the survey results were generally consistent between small/midsized firms and large firms.

“3D VR is transformative in its ability to visually present property. Whether analyzing a new development or the future possibilities of an existing space, this immersive experience enables, better, faster and cheaper evaluation and decision-making,” noted RealNex and Pix Chairman Mark Kingston.

In short, the survey found the state of the market for VR in real estate is early stage with high interest. While different segments of the industry have different levels of experience with VR, most are paying close attention to the technology and evaluating means of implementing it. Many are looking for opportunities to employ VR now. However, the rate of usage will undoubtedly increase as more people understand that the current technology is neither complicated nor costly and delivers a great value proposition.

For more insights and details on the usage of VR, readers may access a free copy of the survey results here.

About RealNex

RealNex is a leading commercial real estate technology solutions company. It strives to become the portal and marketplace for the commercial real estate industry by integrating sector-based solutions to improve marketplace efficiency, transparency and liquidity. Its singular solution is designed to improve user success by increasing accuracy, professionalism and productivity.  Learn more here.

About Pix

PIX was founded by a group of successful real estate veterans and business leaders in conjunction with pioneers in the field of interactive 3D computer gaming and virtual reality to develop state-of-the-art, immersive 3D virtual experiences for the real estate and related industries. Learn more here.

About CREtech

CREtech is where the commercial real estate industry comes to discover all things tech. No other site in the world offers everything in commercial real estate tech in one location.

Our mission at CREtech is to connect the commercial real estate and tech sectors, bringing a new age of innovation and growth to the industry. The CREtech team comes from within the industry and we are passionate advocates and experts on all things commercial real estate tech. Come join our community and together we will create a dynamic, prosperous and thriving CREtech sector. Learn more here.




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Topics: RealNex News