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NEW STUDY SHOWS PROPERTY BUYERS AND SELLERS OVERWHELMINGLY PREFER LISTING WITH 3D TOURS

January 27, 2020

Nearly 80 percent would switch to a real estate agent who offers listings with immersive virtual walk-throughs

SUNNYVALE, Calif. – Matterport, the market leader for spatial data capture, today announced the results of a new study that shows U.S. real estate buyers and sellers are no longer satisfied with static photos and would overwhelmingly opt for a more immersive experience.

The survey polled 1,000 U.S. property buyers and 1,000 U.S. property sellers. Nearly 80 percent of property buyers and sellers would switch to a real estate agent offering immersive 3D tours of listed properties. Millennial and Gen Z respondents are overwhelmingly in favor of more immersive listings. For instance, 83 percent of Millennials and 94 percent of Gen Zs would switch to an agent offering these services, compared to 63 percent of Gen Xers. Not only would they switch, but 87 percent of sellers and 86 percent of buyers would recommend these agents to their friends.

“It’s clear that property listings with only static photos will no longer be viable options,” said Jay Remley, Chief Revenue Officer of Matterport. “An immersive 3D experience is what buyers and sellers want - and it pays off. Properties sell 20 percent faster and close up to nine percent higher price with a Matterport 3D tour.”

Buyers Want Digital Measurements

Respondents of both groups agreed that offering 3D tours would improve the competitive edge of a listing. In fact, 92 percent of prospective buyers would be more likely to buy a home if the property they were interested in had an immersive 3D tour available. 

Buyers are also interested in online measurements. Nearly 90 percent of prospective buyers reported that an immersive 3D tour that allows them to take digital measurements of rooms, walls, doors, windows, etc. would make them more interested in a listing. Additionally, over half (55 percent) of potential buyers said they would buy a property sight-unseen if there was a 3D tour available online.

Sellers Seek Competitive Edge

Similarly, an extraordinary 99.4 percent of sellers reported that offering an immersive 3D tour would improve the competitive edge of their property listing. Moreover, 89 percent of sellers believe their listings would perform better (i.e. sell faster) if it featured an immersive virtual walk-through tour. Of the sellers surveyed, 88 percent reported that they would prefer to work with a realtor who could offer an immersive 3D tour of their property over ones that couldn’t. These sellers are ready to take actual steps today, with 80 percent saying they would switch to an agent/agency who offered 3D capture services over ones who could only offer photography services.

MATTERPORT ENABLES INTERACTIVE 3D MEASUREMENTS FOR ITS SPATIAL DATA PLATFORM

December 12, 2019

SUNNYVALE, Calif.   – Matterport, the market leader for spatial data capture, today made Measurement Mode available in Showcase, the company’s web-based client for exploring its 3D spaces. The new functionality gives users the ability to share measurements taken in a Matterport 3D digital twin with anyone, allowing them to accurately measure rooms, windows, doors, or furniture with a simple click or tap on a PC or mobile device.

“Measurement Mode is an important step in our strategy to turn buildings into data and actionable insights,” said RJ Pittman, CEO. “This new capability gives customers an invaluable tool for sharing vital information of spaces or objects within a Matterport digital twin. The potential for smarter space planning, utilization, and collaboration for the built world is enormous.”

Industries spanning real estate; architecture, engineering, and construction (AEC); retail; travel and hospitality; insurance and restoration will benefit from this important new capability. Experience Measurement Mode here.

“Measurement Mode is a great example of meaningful innovation within the property insurance ecosystem,” said Mark Whatley, Senior Vice President of Claims Operations, CORE Group. “This new capability allows contractors and claims professionals to quickly confirm the accuracy of the associated sketch, subsequently constraining the arguments and reducing cycle times. Matterport’s technology continues to function as a credible and consistent dispute prevention tool, providing opportunities for contractors and claims professionals to transcend the traditional pitfalls that contribute to the outsized amounts of administrative waste that are currently bogging down our industry.”

AEC professionals can share Matterport digital twins with stakeholders so they can review property measurements from anywhere in the world. Or, they could make a bid for a project virtually, and dramatically reduce the number of change orders.

“Matterport’s Measurement Mode gives our users additional value,” said Dan Cardona, Chief Operation Officer, Apex Imaging Systems. “Being able to quickly verify measurements in a digital twin, we increase the accuracy of bids. Plus, we save time and money by eliminating the need to send teams around the country to re-verify measurements.”

For real estate professionals, the new measurement tool provides another selling point for agents and/or sellers by allowing prospective buyers or tenants to virtually measure if a space can accommodate their furniture, artwork, rugs and other design elements. 

The company is taking Measurement Mode further in 2020, eliminating the need for customers to take manual measurements in Showcase. Cortex, Matterport’s AI, will automatically identify and measure landmark features like doorways, windows and ceiling heights, saving customers a significant amount of time.

Matterport is the only platform that creates true 3D digital twins of the built environment. It offers professional-grade capture devices, including the Matterport Pro2 3D scanner and Matterport-compatible Leica BLK360, as well as compatibility with 360-degree cameras, including the Ricoh Theta V, Ricoh Theta Z1 and Insta360 ONE X. Once a space is captured, Matterport’s Cloud 3.0 software enables anyone to easily create a 3D digital twin. Subscriptions start with a free tier, a $9.99 “Starter” plan for budding 3D capture professionals, and a number of hosting options for SMB and enterprise professionals.

About Matterport
Matterport is the leading spatial data company digitizing and indexing the built world. Its unique 3D capture technology creates the spatial data layer on which the industry can interoperate, and the company’s all-in-one 3D data platform makes it fast and easy to turn any physical space into an accurate and immersive digital twin. The Matterport platform helps customers realize the full potential of a space at every stage of its lifecycle including planning, construction, appraisal, marketing, and operations.

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