Matterport is not the future of real estate

I am an IDXBroker Developer Partner and in the private facebook group there is a discussion about the recent article that came out about virtual reality.

A very reputable broker said this “Matterport is NOT the future of real estate. The real estate media is really pushing this product, but (IMHO) it does not really differentiate a property or an agent or a brokerage. There is no real “craft” in it. We have been producing our own videos for several years, all in-house. This is an example. It is not meant as any kind of promotion or anything….just an example of an alternative things like Matterport. I know of many agencies around the country who feel the same way I do about Matterport. And…..clients really like these, and viewership is very high.

So I sent this

“Virtual Reality is…..look at your analytics on the video you reference (very nice BTW)…people are not watching your 8 minute video but they are spending 10-15 walking through the 3D Virtual Reality tour. Many agencies around the country …..many don’t syndicate their listings to zillow and lose business and their clients are switching to agents that do if their home isn’t selling….basically buyers want to experience the property before they waste their time scheduling a viewing. Plus Matterport is combined with aerial, etc. on a listing website which includes floor plans and other features. They spend 3 minutes on a video but 15 on a Virtual Reality Experience….and we haven’t talked about the SEO factor of that type of traffic, facebook viral videos that get more views than a typical video…and more. Again I reference

Especially the 1:10 mark. What works for you works for you and I like the quality and the production level…however Virtual Reality Marketing is cheaper, reaches more and high end buyers want it. In your video I cant experience it …I have to be forced to watch what you want to show me. VR lets me walk through and experience like I want to. I want to see the backyard, my girlfriend the kitchen. We both can experience it the way we each want to. Videos are restrictive and can hide perspective that side by side with VR the VR can give spatial relationships to each part of the home that add value….I’m talking too much again….just hope everyone in your market thinks like you do….an agent with 10 matterports combined with VR marketing will take over hard to get listing markets in no time.”

Then I made this video

Have a great weekend!!!