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Virtual Reality Real Estate Tours Gaining Acceptance

Virtual reality tours have become a hot new tool to boost leasing and sales for several brokers and developers. Sage Realty has taken to giving the tours to prospective tenants of New York's 437 Madison Ave, an 850K SF building that is undergoing a $60M renovation. Visitors to the marketing office can view the completed project through headgear that is equipped with interactive 3D modeling software. Tech company Oculus, which Facebook purchased last year for $2B, provides the headsets that Sage is using and offers both a desktop and mobile-compatible version. [WSJ]

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