Matterport, the market leader for spatial data capture, 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.
Nearly 80% 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% of millennials and 94% of Gen Zs would switch to an agent offering these services, compared to 63% of Gen Xers. Not only would they switch, but 87% of sellers and 86% 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% 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% 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% 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%) 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% of sellers reported that offering an immersive 3D tour would improve the competitive edge of their property listing. Moreover, 89% 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% 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% saying they would switch to an agent/agency who offered 3D capture services over ones who could only offer photography services.
What better way to promote digital offerings to House Shoppers than with digital advertisements? Last year, according to AudienceSCAN, House Shoppers took action after either seeing ads on their mobile smartphone app or receiving ads via text, receiving email ads and finding ads on daily deals sites such as Groupon.
AudienceSCAN data is available for your applications and dashboards through the SalesFuel API. In addition, AdMall contains industry profiles on real estate agents/agencies and apartment rental and management companies, as well as lead lists at the local level. Media companies, sales reps and agencies can access this data with a subscription to AdMall from SalesFuel.