Editor's Note: The following is a guest blog post by Doyle Real Estate Team with RE/MAX Results Member Brandon Doyle. Brandon is based in Maple Grove, MN. Brandon is a member of the Matterport User Group Forum where this article was first published. With the permission of the author, we have lightly edited the text to provide context for everyone using the Matterport 3D Showcase™ tour solution. In 2014, Brandon was nominated for Inman Innovative Realtor of the Year, in part, for his use of the Matterport 3D Digital Virtual Tour solution. Brandon speaks Wednesday, 10 June 2015 at the National Association of Realtors' NAR Tech Edge about 3D Digital Virtual Tours.
The Redfin stats in this Matterport User Group Forum thread are interesting about "stats that show listings sell/rent faster."
I've been working on our stats based on the properties we've done so far, however, I'm not ready to release them until the sample size is larger.
I will state the following;
- We've been told by sellers they picked us over competition because we offered digital showings
- We're winning more expired listings by offering something their previous agent did not have, nor have they ever seen before
- Matterport / Matterport Virtual Reality (VR) Showcase Beta has gotten me exposure in media which resulted in more business
- Buyers have stated at closings that our digital showings were instrumental in their decision making process
- The homes we've listed with digital showings are selling significantly faster than those without ...
- Engagement via social media with tours prior to listing has increased over 700 percent
- Demonstrating Matterport VR Beta is very memorable, and everyone will be talking about it. While it may not be 100 percent practical yet, it sure is a great way to get people to remember you.
For each home sale, 60 percent of the sales process is completed online and 90 percent of the home search is conducted online making it the predominate way that people are interacting with real estate listings.
Increasingly buyers are turning to digital with more half of first time buyers starting their search online and 43 percent of all buyers found the home they bought online. Additionally mobile devices are playing a larger role in the search and online interaction.
According to a 2012 study by Google and NAR, new home buyers place emphasis on virtual tours. An additional 2014 study by Properties Online Inc. states the four most useful tools, according to buyers, when searching for properties are as follows:
- Detailed Property Info
- Virtual Tours
- Interactive Maps
Information gathered from August 2014 - June 2015 by Brandon Doyle (REALTOR) including interviews of Buyers and Sellers, and statics of actual listings compared to current market averages, as well as other personal listings with out Digital Showings such as Matterport 3D Showcase.
- The digital house hunt (Google & NAR 2012)
- House Hunting Season (Think with Google 2014)
- Real Estate Tech Trends (Properties Online 2014)
I do speak to local associations and at tech events about the subject so if you're going to quote me, please provide reference.
I will release the full notes and stats after Inman Connect, 4-7 August 2015 in San Francisco. By then I'll have a full year of use and plenty of data to benchmark.
[Editor's Note: Join the conversation about stats that show listings sell/rent faster with digital 3D tours on this thread of the Matterport User Group Forum (free).]