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You might have heard about augmented reality. The basic idea behind this technology is that through the use of a camera phone or other similar device (such as an iphone), you can see a view of whatever it is you are looking at, with a computer-generated overlay of icons and graphics that provide additional information. The example below shows an iphone app that overlays directions to the London subway over your view of the streets – enabling you to find the nearest subway entrance faster.

Image: idrewkuk / Flickr

The benefits for real estate are clear. Augmented reality apps could give you all of the basics for a home as you approach it. As you tour the home, it could provide you with the details of each room, such as its square footage, or point out features that you might appreciate. To this end, there have already been a few real estate apps created.

Meilleur Agents, a French company, has created an app that presents property valuations in augmented reality. When a user points it at any Parisian building, the user can get an estimated valuation of the property in euros per square foot. It’s currently available for Google Android cellphones in France, but there will soon be an Apple iphone version (also only in France.) To see what it looks like when it works, go here.

Another app that is being launched in the U.S. is Trulia. It also shows users information on a property’s sales price. However, it crucially also offers you views of the interior, and a contact number for the appropriate real estate agent. This app is also for use with a Google Android phone.

None of these are currently available in Canada yet, but since the Layar – the augmented reality browser these apps are built off – was only released last year, the fact there are any products is amazing. It will likely be in the next one to two years that we’ll start to see their release in Canada.

Of course, the question is: will these apps be simply toys, or will they actually be an effective way for users to find real estate? The answer is likely a mixture of both. Most people will likely not be interested in pointing their camera phone at every house in a neighbourhood, and having a real estate agent look for you is much faster. However, if the apps can provide real estate information when users are not expecting it, these apps could help users find homes they never even knew were on the market.

Nelson Goulart
Broker of Record with Signature Service GMAC Real Estate
www.ssgmac.ca

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