Using Photography, Augmented Reality and Image Recognition in Real Estate

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Using Photography, Augmented Reality and Image Recognition in Real Estate.

In the competitive landscape of real estate technology, photography, augmented reality and image recognition has become more prevalent as a leading source to gain an edge on the competition and provide an interactive experience for consumers. With major companies such as realtor.com launching new software like Street Peek, the use of image recognition will only continue to grow.

Image recognition allows users who download an app to use their smartphone’s camera to gain information about a certain home. The camera with the app opened is pointed at a house and, based on an algorithm, will deliver property details for the user.

With apps like Realtor.com’s Street Peek, a user can survey multiple houses within a neighborhood. Let’s say you’re interested in the value of a set of homes in a particular neighborhood. Using the app, you can point your smartphone at a set of houses and be given real-time data, such as home price, estimated value, number of bathrooms and number of bedrooms. This type of technology allows users to quickly determine or measure interest in a neighborhood or home to see if it is a good fit for their needs.

Augmented Reality also gives consumers a unique perspective into different forms of visualization and architecture. Apps such as RealAR allow potential buyers/sellers to visualize the work of an architect. For example, you purchased a plot of land and are curious to see what your home would look like on the land. Apps like RealAR will allow you to visualize your house by providing photos superimposed on the land.

The future of photography, image recognition and augmented reality is looking bright and will continue to expand with increases in technology. Potential home buyers and sellers can continuously engage new platforms and new forms of technologies that will make the home buying and selling process better than ever before. If you’re a broker- owner or work at a brokerage, ask your brokerage what types of technologies are currently available or what is in the pipeline. The time is now to get on board and start to understand this incredibly ground-breaking technology before the competition pulls ahead.

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