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Here's How Virtual Reality Is Changing Real Estate

Virtual reality is giving real estate (and homebuying) a whole new dimension. With headsets strapped to their faces, buyers can tour potential homes and walk around the building before construction even breaks ground. 

Industry giants like Halstead, Greenland Forest City Partners and Douglas Elliman Real Estate have already jumped on the VR bandwagon, partnering with digital design firms to create virtual customizable spaces for high-end buyers.

Of course, the technology is still in its infancy. But as it comes of age, it could make home-hunting more efficient, eliminate the need for open houses and allow buyers from all over the world to see properties without relocating. (It certainly sounds like a boon to overseas buyers.)

"We sell based on emotion and attaching that emotion to a vision," says Matthew J. Leone, senior vice president of digital marketing for Terra Holdings, the parent company of Halstead. [NYT]