New 3G service will allow virtual tour of properties

Imagine viewing a showflat without actually being there. Well, a new 3G video application will let you do just that on your mobile phone.

Software company Oasis Systems is launching the world’s first mobile service for the real estate industry.

The application will debut in Australia in less than three months and could be made available in Singapore.

Take a “walk” around the living room, or visit other parts of the house. The new interactive dial-in software will allow home hunters to tour properties virtually.

Jeff Wise, vice president, Business Development, Oasis Systems, said: “We believe there is a lot of potential in interactive video, and so (we’re) providing interactive video for a market that is very much visual, a very emotive market – the real estate business.

Oasis Systems said companies like Youtube and Skype are also creating new software for smartphones to tap the growing 3G mobile market.

Research firm Frost and Sullivan said there are 3.4 million 3G mobile subscribers in Singapore as of May this year. And in 5 years, the number of subscribers could reach 6.7 million, or equivalent to a 90 per cent 3G penetration rate.

Eamonn Kearns, vice president, Asia Pacific, Dialogic, said: “Now as we move into a 3G enabled environment, where people have the ability to make and received video calls, it is a logical evolution that property developers will begin to use 3G as an extension of their print and online advertising campaign.”

The virtual real estate tour application is not available in Singapore just yet. But property agency Propnex said the take up rate is unlikely to be very high.

That is because many agents are still conservative when it comes to adopting such 3G technology, preferring more traditional advertising medium.

Meanwhile, HSR expects 6-in-10 agents in Singapore to make use of the mobile application when it becomes available. It is estimated to cost some S$360 a year per property listing.

Source : Channel NewsAsia – 2 Jul 2010

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