Answered

Data needed to support advertising claims

We are looking to gather information about homes that have been sold in our area to determine if the ones that included Matterport 3D increased the selling price (average cost per square foot) and reduced the number of days on market. It would be extremely useful to be able to search through a database of MP scans within a particular zip code and cross correlate that data to homes that did not use MP. Hopefully, the delta could make a compelling case that MP has a distinct impact on selling metrics. Otherwise. it seems that we have to convince our customers "on faith" that Matterport is an effective selling tool. This is often difficult selling proposition given that MP is a new and unproven technology amongst a vast graveyard of failed real estate tech.

Also, has Matterport ever done any focus group testing, white papers, or online surveys that make the case that buyers prefer seeing listings that feature 3D and/or video? Google and the NAR did a study back in 2013 called "the digital house hunt" that illustrated the effectiveness of using video in RE marketing. It would be extremely useful to cite a similar study that proves the effectiveness of Matterport in our (and your) marketing.

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4 comments
  • I agree with @harry that any statistics that can be accumulated to show how an MP Space impacts the sale would be very beneficial. It's difficult/impossible for an individual MSP to accumulate that type of data.

    Without that data, I focus my MP Space presentation to an agent on that agent. I sell it as an agent tool first, and a seller's tools second.

    Until the consumer starts demanding it in their market, agents that offer MP can close the listing, simply because they offer a MP Space. Most of my agents use it on every one of their listings because they recognize it separates them from, likely, 99% of all other agents. Recently, an agent closed a listing in competition with five other agents, simply because he offered the MP Space. And the seller confirmed for him that none of the other five agents had even mentioned it to the seller. I'm pretty sure he is now locked down as he's just given me several referrals to agent/friends he has.

    First, shame on those other agents for not paying attention to their own trade journals for the last 3 years. But second, just look at the opportunity we have once they really start to embrace it!!!

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  • I agree with you Bill, however getting Agents on board is challenging in our market because they don't see tangible value for homebuyers. Although I get a lot of repeat business from realtors that use it as a selling tool as you have described, the real magic doesn't begin to happen until buyers start seeing and utilizing MP scans as part of their home selection process. The statistics I have seen on our scans are horrible which just proves that even though listing agents send the MP link to their network, social media, etc not many people look at them. Once buyers start seeing the value, they will drive growth by contacting listing agents to send them links to 3D and property videos.

    It might be interesting if all of us MSP's got together to provide the end user a database of all of the 3D scans within their area. Just like they have "Dream Homes" publications, you would have a repository of 3D homes is their market that they could tour anytime, from anyplace. This would be a good stop-gap solution until the folks at Zillow, Tulia get on board and start featuring MP scans in their search results.

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  • Great idea, @Harry Smith! I've passed this onto the relevant team members here. Absolutely agree that this would both help our users, and us, so let me see what we can do!

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  • Agreed. Can we get US-based data as well? The flyers that Matterport provides for MSP use cite Australian realtors. This won't translate to US "goods" in my market, like some stats from the uSA.

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