Little Hinges has announced the launch of a new platform that offers “game-changing” data and insights for real estate agents, in its latest push for the industry-wide adoption of virtual reality property tours.
The Brisbane-based firm unveiled it has kicked off a first-of-its-kind, live insights platform that will give access to real estate insights on all tours that were captured using Matterport virtual reality technology and were added to its database.
Previously, the data was only available to Little Hinges customers. But the virtual inspection firm revealed that the data will now be offered to a wider audience, namely to Matterport’s subscriber base of more than 500,000 located all over the world.
The co-founder and chief executive of Little Hinges Josh Callaghan said the platform was launched with the goal of driving industry-wide adoption of virtual tours, underlining that “we know how much value they offer buyers, sellers and agents”.
“[Over] the last two years, we’ve proven that the best way to demonstrate the benefits of virtual tours is to provide real estate agents with access to live data that prove the return on investment of opening their properties to buyers from around the globe,” he stated.
Mr Callaghan explained that the launch would allow anyone with a Matterport tour access to these insights without any additional costs, likening it to how Google Analytics offers valuable insights to e-commerce providers.
“By providing this level of live insight, we’re not only demonstrating the ROI of virtual tours, but we’re helping agents respond to significant shifts in buyer behaviour. We’re making the property purchase process easier and more accessible for agents, buyers and sellers alike,” he said.
He also highlighted that the strong demand for the platform — which saw a high number of subscribers from the US, Canada, Turkey and Australia signing up for access within an hour of its launch — demonstrated that Matterport users are hungry for more buyer data.
“This product release is the first step towards giving the ecosystem the tools and insights to unlock the kind of growth that we’ve seen in Australia, demonstrate the significant return on investment that comes from implementing virtual tours and raise the level of adoption of the technology, industry-wide,” he concluded.
The launch of the platforms comes on the heels of Little Hinges’ latest report, which showed interstate inspections represented 27 per cent of all property inspections around the country in the last six months — indicating that the trend of buying sight unseen will not die down any time soon.