US group makes major announcement at AREC 2016

A US-based technology provider has revealed it is formally entering the Australian real estate market following an announcement at AREC 2016.

Immersive media company Matterport, which is headquartered in California, allows agents to engage buyers from around the world using Matterport 3D Spaces.

The award-winning Matterport Pro Camera and 3D Showcase is a web-based player that can be embedded directly into any property website. The model allows the user to move through a space naturally, from a mobile device, laptop or VR headset. A dollhouse view provides even greater details of the property as users can zoom out to see a unique, full-colour 3D floor plan or a 2D colour floor plan.

To date, more than 200,000 Matterport Spaces have been created, which have attracted more than 40 million views.

REA Group has been using Matterport on realestate.com.au. According to new research, buyers are 60 per cent more likely to email an agent and 95 per cent more likely to call an agent about a property listing they’ve seen on realestate.com.au which includes a Matterport 3D Showcase.

“Matterport is an absolutely key technology for advancing the property industry from flat photographs to 3D and ultimately virtual reality experiences of a property,” REA Group CIO Nigel Dalton said.

“The Matterport camera and software makes it easy for any Australian property agency to get access to the tools that create the richest visual experience in apps and on the web for house seekers. With demand from consumers for richer media, a 3D walkthrough or virtual reality tour are going to be expected on every listing on realestate.com.au within the next five years,” he said.

Justin Miller of RE/MAX Regency in Queensland was an early adopter of Matterport technology and says its benefits have proved far more powerful than he originally thought.

Mr Miller was introduced to Matterport technology via REA Group and started using it for the property management side of his business by helping to provide property condition reports.

“After a short while we began to realise the true power of the technology and realised it could open up an entire new client base to us, based on its ability to ‘open up’ a property to anyone, anywhere, anytime,” he said.

“In fact, we believe so much in Matterport’s power that we invested in two of our own cameras. In three months we’ve had three direct sales from buyers who have solely inspected via a 3D tour on realestate.com.au.”

Matterport CEO Bill Brown said many agents in Australia have been early adopters of the Matterport 3D Showcase, and have experienced how Matterport helps them attract more clients and more inventory as well as creating a better buying experience for consumers.

"We're excited to bring the Matterport immersive experience to more Australian property owners so that buyers and renters can experience any property from anywhere,” he said.

[Related: Agents told to get ready for a 3D future]

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