Here at RE PIXS we do our best to stay in the know with the latest Real Estate Marketing trends, and this month we're focusing on 3D Matterport tours. We wanted to understand why our top clients use these 3D Matterport tours on all of their listings - because the reality is that using 3D tours is not the norm. They're becoming more common, but we only have a handful of agents who use them with every single listing. Over time, we recognized that these are some of the busiest agents we work with, and we wanted to understand why they opt-in for these tours regularly. We have done the research and gathered data from multiple sources to better understand the impact these 3D immersive tours have on listings and the real estate industry as a whole. We're so excited to share what we have found with you, our wonderful clients, in hopes of keeping you at the top of your game. Because your success is our success.
In a consumer survey, 90% of Realtors shared that Matterport helps them build a stronger brand and that they are more competitive in the marketplace because of it. Also, a whopping 74% of agents say they win more listings when they offer a 3D immersive tour in their marketing package. This brings us to our number one reason why our top clients at RE PIXS use 3D Matterport tours on all of their listings: Matterport is one of the most effective ways to stand out from the competition!
1) Stand out from the competition
As a Realtor, you must continually adapt and grow as the industry changes. If you've been in the business for a while, it might shock you that currently only 68% of Realtors use professional photos on all of their listings, and even less use 3D Matterport tours on their listings. Using these 3D tours gives you a competitive edge in today's market. In fact, 88% of sellers said that they would rather work with a Realtor who offered a 3D immersive tour over those that didn't. What is even more shocking is that 80% of surveyed sellers who have worked with a Realtor on previous deals would switch to an agent offering 3D tours for future deals.
As our world and the Real Estate business move onto more automated virtual platforms, it's important to stay up to date with the latest augmented reality solutions. Imagine the ability to hold an open house any time - day or night - from the comfort of your own home. Well... It's now a reality with solutions like AgentRelay and Boost3D. These subscription platforms allow you to virtually tour properties in real-time with prospective buyers all online! New technology has also recently come out that gives you the ability to virtually stage 3D Matterport tours or create digital twins to render realistic remodel plans with a designer or architect using data points provided by the 3D Matterpot cameras. Learn more about the latest real estate solutions on this blog.
2) Increase web traffic to listings, and get higher offers
In a recent interview the Chief Revenue Officer, Jay Ramley at Matterport shared, “It’s clear that property listings with only static photos will no longer be viable options,” ... in today's market, “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.”
An internal study done by Redfin shows that homes with 3D Matterport tours sell on average 10 days faster, and for $50,100 more than comparable homes without a 3D tour. Inman reported that listings with more visual content like video or 3D tours experienced 403% more inquiries as well. These statistics are mind-boggling, with information like this it's no wonder that 71% of buyers say they would be willing to purchase a home sight-unseen if it had a 3D immersive tour. This brings us to our next point, buyers want 3D tours when shopping for their future homes.
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3) Buyers prefer viewing properties with 3D tours
This data comes directly from the Matterport Blog stating "The first impression of a home often comes from its online listing, and this initial online curb appeal can mean the difference between capturing or losing a prospective buyer’s attention. While home listings almost always include photos, 78% of buyers worry they are Photoshopped or misrepresent the space.
In fact, the buyers Matterport polled in September were so confident in 3D tours that 71% said they would purchase a property sight-unseen, a 16% increase since we last asked this question in January. Furthermore, 82% of buyers agreed that 3D tours provide a more accurate representation of a home than photos alone. Baby Boomers showed the greatest confidence, with 91% of them indicating they feel this way.
When we asked buyers to rank the top benefits of 3D tours, they identified the ability to view the home’s floor plan (75%), visualize the entire home layout in Dollhouse view (61%), and measure rooms, walls, doors, windows, etc. (60%) as the most important features. When we analyzed the responses to this question by generation, 73% of Baby Boomers said they would use 3D tours to narrow down which homes fit their needs, compared to 53% of Gen X and 54% of Millennials."
4) Sellers want a 3D tour of their home
Matterport asked sellers to rank the top benefits of 3D tours. "Sellers identified attracting more serious buyers (67%) and selling their home faster (67%) as the top two advantages, followed by decreasing the number of in-person visitors (41%) and closing at a higher price (39%).
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,
Seven months into the pandemic, 78% of home buyers say they are choosing to view more properties virtually with 3D tours because of safety concerns. Home sellers shared these concerns, although to a somewhat lesser extent. Older homeowners were most likely to have safety concerns, with 59% of Baby Boomers reporting that reducing the number of people visiting their homes was an advantage to having a 3D tour, compared to 40% of Gen X and 38% of Millennial home sellers.
Sixty-nine percent of home sellers who did not think that 3D tours were a necessity before the COVID-19 pandemic, now feel that they are. The sentiment was especially pronounced for people living in the suburbs and small towns – 76% of people living in non-urban communities now say that 3D tours are a necessity, whereas only 45% felt that way pre-pandemic."
5) Increase referrals
As an agent, when you have a great web presence you naturally attract more referrals. Be sure that your brand and listings are represented with the qualities that you represent as an agent. Using 3D Matterport alongside professional photography is the best way to stand out in today's market. Learn more about the 3D Matterport services we offer at RE PIXS: https://www.repixs.com/3d-matterport
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