Matterport (whose 3D camera technology we use to create our 3D virtual tours) conducted a poll of 1,000 U.S. property buyers and 1,000 U.S. property sellers and found that they are no longer satisfied with static photos and would overwhelmingly opt for a more immersive experience.
The poll found that on average nearly 80 percent of property buyers and sellers preferred a real estate agent offering immersive 3D tours of listed properties.
The younger generations (Millennial and Gen Z respondents) are overwhelmingly in favour of more immersive listings. They are the tech generations, and want to see technology used in the sale process. For instance, 83 percent of Millennials and 94 percent of Gen Zs would switch to an agent offering these 3D Virtual Tours, compared to 63 percent of Gen Xs. 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,” 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 real estate agent 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 82 percent saying they would switch to an agent/agency who offered 3D capture services over ones who could only offer photography services.
Poll data was released by Matterport on January 27, 2020.
To schedule a 3D virtual tour or for a digital consultation, contact topVIEW today.