Technology continues to transform the landscapes of many sectors of the economy in Los Angeles and elsewhere, and real estate is no exception. Specifically, augmented reality is expected to have an increasingly major impact on the market of properties featuring commercial leases. Here is a glimpse at what augmented reality is and how it may impact property owners in the years ahead.
Many consumers have become familiar with the term of virtual reality — an experience that is immersive, as it fully covers people’s fields of vision. However, augmented reality takes things a step further. Augmented reality is a type of additive experience that enhances people’s fields of vision with extra elements.
The benefit of augmented reality is that only a smartphone is needed to access augmented reality, whereas more expensive headsets are required to experience virtual reality. Augmented reality can impact the commercial property world by making it easier to capture business customers’ attention through digital ads. In this way, augmented reality offers major revenue stream opportunities for commercial buildings in areas that receive a lot of shopper traffic.
Owning properties featuring commercial leases can certainly be a lucrative career area, but it can also be complicated due to the market’s quickly evolving nature. One aspect of the market that can be especially complex is the legal aspect, particularly for those who are trying to purchase or sell commercial real estate for the first time. Fortunately, an attorney in Los Angeles can provide buyers and sellers with the guidance they need to complete their transactions while, most importantly, making sure that their rights and best interests are upheld from start to finish.