Application of Virtual Reality Technology in the Real Estate Marketing Practices

Soh, Willie Yeen Li (2020) Application of Virtual Reality Technology in the Real Estate Marketing Practices. Final Year Project (Bachelor), Tunku Abdul Rahman University College.

Text Copy of RRE#Willie Soh Yeen Li#17WVR12168.pdf Restricted to Registered users only Download (962kB)

Abstract

This research has been carried out to archive the objectives of this study which are to identify the challenges of applying virtual reality technology into the real estate marketing practices, to assess the acceptance level of real estate practitioners towards the application of virtual reality technology and to recommend the motivators that encourage the application of virtual reality technology into the real estate marketing practices. Apart from that, the problem statement is described in this study and the insight of the challenges of VR into the practices of real estate in Malaysia are provided as well. The challenges are found to be the cost consideration of the application of VR, no sensory experience and not as matured to be adopted at the moment. The adopted research method has been carried with primary and secondary data collection. Primary data collection consists of quantitative and qualitative, quantitative can be the questionnaire survey that constructed based on the aims and objectives of this research which distributed to the experienced respondents and the qualitative research method is including interviews with particular qualified personnel for a further and more detailed data collection. Then, the secondary data collection is from the literature study that found in the journal or article on the internet. For the research findings, most of the real estate practitioners are having high acceptance level towards the applications of VR technology. On top of that, the challenges of applying the VR technology into the real estate marketing practices are well identified from both questionnaire survey and interview. In fact, the main concern and challenges is the high capital budget that required to apply this VR technology. Overall, the data collected has been considered to achieve the research objectives. On top of that, the contribution and the implications of the findings is from the literature study as well as the data collected from the experienced respondents that involved in real estate industry.