Global real estate services company Colliers International is looking to cut the cost of understanding floor plans for commercial and residential property owners.
It’s co-invested in accelerating Australian start-up RealAR to develop to a global scale an inexpensive visualization software and enhance buyers understanding of exactly what they’re contracting.
Commercial owners can take a 2D floor plan or 3D models of fit-outs and then create an augmented reality experience, allowing decision makers to see a walk-through in life-size and quickly see the potential of space they may not have thought about.
Residential owners can also visualize how streetscapes and outside views will impact on their new home or alterations, giving them the additional comfort they might need to make a purchase.
RealAR doesn’t require expensive gear and can convert either flat floor plans or models created in commonly used 3D formats within minutes into virtual experiences viewable on mobile devices.
What is RealAR looking to achieve?
“RealAR is a user friendly and accessible way to improve knowledge and understanding of proposals during the entire development assessment process of a space,” said Co-founder and CTO Keith Ahern, an ex-Netscape Silicon Valley VR software engineer.
Co-founded in 2017, RealAR CEO Dan Swan PhD, said of being chosen by Colliers “It’s a wonderful opportunity for us, the very first Australian company to be selected, to take part in this intensive 13-week accelerator program alongside nine companies from five other countries.
“We’ll be exploring pilots and partnerships with Colliers’ people and clients to accelerate growth prospects for all parties.”
The first truly global initiative of its kind, this groundbreaking program is designed to help the startups refine business plans and gain global real estate perspective through more than 120 mentors from Colliers, Techstars and the broader real estate, technology and investment industries.
Colliers’ vice-president of global strategic investments Zach Michaud said: “Our conviction around technology continuing to improve both our ability to service our clients and improve our clients’ businesses remains solid and we continue to view technology as tool versus a threat in our industry.”
RealAR will focus on growing its existing residential user base as well as leveraging Colliers International world wide for enterprise customers. RealAR was recently listed as one of the Top 7 Apps for Homeowners and Realtors.