Ever thought about having a career in the area of real estate? Then the Metaverse is the perfect starting point for you. In this article, I will explain how you can begin a career as a real estate agent in the Metaverse.
Becoming a successful Real estate agent in the Metaverse is not as easy as you think. It requires lots of resilience, dedication, and some expert hints.
This article highlights the virtual world of the Metaverse. It looks at the virtual real estate community and how you can begin a career as a Metaverse Real Estate Agent. There are also helpful tips available that can get you started.
The Metaverse: What it is
The New Online watchword, which seems everywhere now, is the “Metaverse.”
The Metaverse can be described as a three-dimensional online area. It incorporates virtual and augmented realities allowing people to meet with each other through online avatars. They can play, shop, try on new clothes, attend concerts, and even purchase an estate.
Many tech leaders such as Mark Zuckerberg and Satya Nadella have spoken about it, believing it to be the future. But other tech leaders like Elon Musk are not so confident about it.
It’s been months since Facebook rebranded to Meta. It announced that it would now focus its future on the Metaverse. And since then, we are still unclear about what the term means. The Metaverse is an inventive concept that could transform how we utilize the internet in years to come.
Meta is developing a VR social platform, Roblox, for holding meetings. Microsoft Corporation also has a similar application which they named Mesh. Some Metaverse platforms include the Sandbox and Somnium Space. Some virtual job fairs have been seen on the Metaverse.
The Metaverse: Preparing for the Future
Gartner Inc. has estimated a 25% increase in the number of people that’ll spend more than one hour a day on the Metaverse by 2026. We can think of the Metaverse as a place where users can make it to work, engage in leisure activities, and can host parties as events.
The Metaverse combines virtual and augmented realities to replicate real-life scenarios and experiences properly. We can refer to it as the most advanced version of the internet (Web 3.0)
The metaverse has always existed (close to 30 years) but became recognized following the announcement from Mark Zuckerberg due to the business opportunities it provided. An example of such business opportunities is the purchasing and selling digital real estate. These virtual spaces serve as meeting points for digital avatars.
There is an assumption that with an increase in the number of users going into the Metaverse, the usefulness of digital real estate would be emphasized more. Companies have started investing money into obtaining real estate in the virtual world. Visiting these estates on the computer or through virtual reality headsets is possible.
The much talk about the prospects of the Metaverse has diverted everyone’s attention to digital land purchasing and virtual real estate leading to high prices. These digital platforms are grouped into land blocks called Parcels and can be purchased using a crypto token or an NFT.
Once a purchase is made, you can sell it at a different price, even higher than its original value, or put it on lease for development or use in any Metaverse event.
Real estate industry evolution
The pandemic came with huge changes. The real estate industry enjoyed a massive market increase instead of a fall, which was a surprise. Video calls made things so much easier, as people could see any property they were interested in.
But now, with the invention of the Metaverse, things have become much more fun. We can have defined details of houses we’re interested in purchasing.
Builders enjoy showcasing their hard work, as it can take years to finalize a single project. And now, with the help of the virtual community, the purchasers can see and even feel any property they’re interested in.
Real estate agents can hold any meeting with their clients in any part of the world and give them an idea of what their houses and neighborhoods would look like. They can walk across a room and view the spaces. So instead of getting on the road for 1-2 hours, a virtual showing can be done within the Metaverse.
Virtual Real Estate
This industry of Metaverse estate is gradually becoming a leading industry.
The Metaverse allows the purchase of both virtual and digital lands with the use of NFTs. After purchase, every buyer can develop these virtual lands into commercial buildings and complexes for residencies. These lands can be sold to fetch a higher value or even leased out for conducting virtual events.
Metaverse Real Estate
A metaverse is a three-dimensional online space where users can take part in some virtual activities like
- Virtual interactions
- Meeting with long-distance family and some friends
- Going for a walk in the virtual world
- Own a portion or plot of any desired metaverse property
Users can do all of these on laptops or even mobile devices. The Metaverse serves as an avenue for the following services to its interested individuals/parties:
- Purchasing and selling of virtual lands
- Realizing dreams by developing virtual lands you possess
- Consultancy services by a group of experts for all renowned metaverses
- Identification of a rental in the Metaverse within a given specification.
- Advertisement services for any business
The major agents in virtual real estate have begun liaising with Metaverse developers to design and market their properties. Other agents invest in finished houses and prepare to receive their profits.
Who is a Metaverse real estate agent?
Metaverse agents can function as real estate agents of properties in the real and virtual worlds. Some Metaverse real estate investors seek the help of an agent to find a property that suits their needs.
Not everybody is interested in purchasing and living on any property they buy. Some owners purchase these properties to generate revenue for themselves.
Metaverse real estate agents can purchase properties without the aspect of cryptocurrency. These agents facilitate the buying of land and also its development.
Since transactions now occur on the blockchain, most purchasers do not require a Real estate agent to quicken the process and provide paperwork. But this form of trading could be risky as most trading parameters involve engaging the help of a native or secondary market, also referred to as over-the-counter (OTC). These platforms trade assets peer to peer, even with no listing on the real estate market.
While this sort of trading could produce a good deal, some users often get scammed since they’re at the mercy of the person at the other end of the screen. And so this is where Metaverse real estate agents become helpful.
As a Metaverse real estate agent, providing real estate will help create income for you since people are looking for houses to purchase in their favorite game. Buying real estate provides several benefits. They include:
- You have more visibility and business when placed in a highly occupied Metaverse world.
- The owners can target a location so that only people from that place can see the real estate listings.
In the long run, as the Metaverse universe rises, more opportunities open up for new agents, such as virtual brokers, who help buyers and sellers understand the process safely and make safe transactions. But a typical Metaverse agent has nothing to fear as the market is safe and profitable. This period is still later in the future.
The Benefits & Downsides
Pros of being a Metaverse real estate agent
The cons include
We can see that to become a successful Metaverse real estate agent. It would help if you were dedicated and put in much effort. But all of this is worth it.
Requirements for Becoming a Metaverse real estate agent
To become a successful Metaverse real estate agent, you should have the following at your fingertips
- Good sales experience.
- Strong interpersonal skills.
- Excellent communication skills.
- Good knowledge of the Metaverse – To excel as a real estate agent. There is a need to have a sound knowledge of the Metaverse. Get used to the different Metaverses so you can serve your clients better.
- As you understand its features, you can fulfill your client’s needs and do this within their budget.
- Have good knowledge of NFTs, Virtual properties, and rental of commercial spaces – Understand NFT as a tool for transferring rights of properties.
How to Become a Metaverse Real Estate Agent
1. Get education And training
Becoming a successful Metaverse estate agent would require good education and training in the field. Knowledge of the Metaverse real estate world and its several property types
Different ways of achieving this knowledge are available in courses online or even programs in most institutions.
You can also learn about the field by going through articles. There are several resources available that will enable you to obtain the knowledge you will need. Adequate training and education are relevant to becoming a successful Metaverse real estate agent.
2. Understand Metaverse Transactions
Becoming a real estate agent in the metaverse requires understanding complex Metaverse transactions. There is a need to understand the crypto market, crypto buying, crypto wallets, crypto exchanges, and the Ethereum blockchain, used mainly by Sandbox and Decentraland.
Tokens.com purchased a property worth $2.4 million at Decentraland. Republic Realm also purchased land for $4.3 million.
3. Join a Metaverse Real Estate Association
Another successful tool is joining an association. You can join many associations available, and these different associations have their benefits. They can provide access to resources and needed information to help you achieve some of your goals.
These associations can also be an opportunity to meet others in the same field as you, such as agents, brokers, and professionals, and build a strong network. Ensure to attend networking events, participate in professional organizations, and relate with others on social media.
4. Get into the market
Potential clients should know you and understand what you can provide them. Utilize social media to your advantage and ensure always stay professional.
Responsibilities of a Metaverse Real Estate agent
Before considering getting a job as a real estate agent, you should be familiar with some of your responsibilities. They include
- Being able to generate leads for clients to purchase, sell or rebrand a property
- Preparing to-do lists and setting a target
- Advising clients on the current conditions of the market and their prices.
- Giving out purchasing offers to clients and receiving orders.
- Advertising lands with ads and listings
- Expansion of Metaverse virtual lands
- Guiding your customers through every purchasing stage
- Attending to new leads quickly
- Being current about happenings in the Metaverse virtual estate market.
- Keeping clients abreast of market trends and purchase processes
These are a few tips you should have in mind to guide you in becoming a successful Metaverse real estate agent. If you require help, seek a professional’s counsel for assistance.
Sam is a brilliant young Nigerian biochemistry student and an aspiring entrepreneur. Despite facing many challenges, he has never lost his passion for learning and drive to make a difference in the world. Read more about him here.