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Success/Demand for Matterport415

LEAHT private msg quote post Address this user
Hello,

I am seriously considering purchasing a Matterport camera to start a business creating tours for others. I wanted to get some feedback on the demand for this product. Is it a hard sell to get someone to purchase the tour? Was it easy to get your business off the ground?
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ron0987 private msg quote post Address this user
It depends on the area you live, if it is the Seattle area it is extremely HARD , if you live in any other area it is not too bad. Seriously it just depends on the area, in our area, Seattle we have found slow but catching on. It also depends on the market, the other issue we have found is the market for property is very good here and we have found agents not as interested in this service. I would check with your agents and see if they are willing to even consider it.

Ron
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DanSmigrod private msg quote post Address this user
It depends on the area you live, if it is the Atlanta area it is extremely HARD , if you live in any other area it is not too bad.

@LEAHT

"Are you excited about the potential to start a business around Matterport platform? Have you read and viewed all things Matterport? Are you still on the fence about buying a Matterport Pro 3D Camera?"

Then, you may find our blog post helpful to your decision process:

We Get Around Buying a Matterport 3D Camera

The post includes 20 questions to help you decide.

Best,

Dan
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GarySnyder private msg quote post Address this user
I agree with Ron, it really depends on your area. Do a thorough check of your area. Depending on the market your going for, meet with a few people who would be likely to buy the services you are offering and get their reactions.

When you meet with them either take your laptop or tablet and show them a few samples models. There are plenty included here in the forum to use as examples. I don't think any of use would mind if you use one of our models as an example. Importantly get their honest reaction to include what you would charge for your service.

There have been several people who thought the streets would be paved with gold once they bought their camera. Sadly that is not always the case and that is why some of them have sold their cameras as they could not make their business pay for itself.

I'm glad you found this forum as it the only place you will get honest answers and help if you do decide to purchase a camera.

Good luck on your decision
Gary
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LEAHT private msg quote post Address this user
Thanks everyone! Lots of great info here that I need to check out before making my decision.
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alegonzabot private msg quote post Address this user
@ron0987 thanks for sharing!

When you say Seattle has a very good market for property... how can you describe these on a more quantitative way?

Examples that come to mind:

The average time to sell a property in Seattle is X days, thus agents feel there is no need to invest aditional dollars in Matterport service. Agents are happy with actual selling times and feel matterport service wont speed up the property selling.

Cheers!
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Jamie private msg quote post Address this user
If you live in Vancouver, it's extremely hard because most agents are tighter than a fishes bum
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ron0987 private msg quote post Address this user
The only thing I am basing this on are these facts I see and my opinion. Agent we are talking to say their sales are up, the average home values have increase in the Seattle area by 10% since January. This has caused a surge in sales, but agents say they are seeing bidding wars on the average $200-500,000 dollar homes, so why would they invest in virtual tours they are not needed. What we are seeing is our high end agents with listing 750+ are turning homes over in 3-4 weeks but still use us looking for overseas buyers. So that is the info I have and based that comment on. So no real proof other than the home values increase has been posted for our area which seems to support what we see in the market.

Ron
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txgreg66 private msg quote post Address this user
No, no, no...It depends on the area you live, if it is the Dallas area it is extremely HARD , if you live in any other area it is not too bad.

;-)

Typically real estate goes in cycles, often shown as a bell curve. if you're on the up of the curve it is a sellers market. If it's on the down side of the curve it is a buyers market.

I also don't think you can just use the Matterport to make a sale. Maybe reach out to inspectors and other home service providers and offer a package deal to the home seller. Think outside the Matterport!

Greg S
eXp Realty
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ron0987 private msg quote post Address this user
I also agree with Jamie, I am finding several new potential clients/agents do not want to pay for anything and are extremely happy with the photos a phone produce and no financial out lay. Going back to the original topic I guess business is good in most all cites other than, Seattle, Atlanta and Dallas.

Ron
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ron0987 private msg quote post Address this user
txgreg66, is there a world outside Matterport or Nikon?

Ron
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Jamie private msg quote post Address this user
The best way I have found to deal with agents who are not willing to spend a few extra dollars. They need to be aware that the next client will be looking for an agent who will market their property well, not just take a few snaps with their iphone. For the amount of commission the home owner coughs up, they expect some decent marketing.

It's not about this client, it's about the next.

I had an agent ask me once, how many real estates have I marketed to. I told him, next to none to be honest. I market to home owners, and when they see such a fantastic product, they will search for a realtor who will market their home this way. If you don't have it, you run the risk of them going elsewhere to someone who does. It's a penny smart, pound stupid mentality. Some see it, others don't. Once the market cools down and there are more sellers than buyers, the agents going the extra mile now will stand out with a better reputation.
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txgreg66 private msg quote post Address this user
Ron & Jamie, you may dealing with a 'fear of change' mentality. There are two options here (1) next .... or (2) education.

This is a fast paced world and we sometimes assume people know what we do. Treat agents as children. Have you ever shown them the camera? Have you let them hold the ipad and click 'scan'? Have they actually seen a 3D walk through? Instead of going straight for the kill with 'Do you want 3D photography?" how about asking "what are 3 challenges you have to finding a buyer the perfect house for them?"

What is the current norm?
An internal discussion on our eXp Realty facebook group had one agent pose the question "who do you use for your virtual tour?". Those tours were designed to get as many people through the door of the house as possible. The best tours were (a) those with high quality pictures (b) that allowed the viewer to navigate between pictures and (c) fewer pictures not more.
Within 5 seconds a home buyer knows if it is a possible house to live in. What a waste of time for most buyers to drive to a house that isn't right for them.

With Matterport we can turn this around and say "Dear home seller/listing agent, only the ones who truly like your home are walking in through the door. No tire kickers allowed. They view the house in high resolution, can navigate through the house itself". The agents who understand that the matterport & web can do for them are the ones you want to find.

Some things to remember
15% of the entire population are early adopters. Find those agents.
Depending on region 10% of the agents do 90% of the production. Find those mega agents in you area. Contact your local Title Company and ask who they are.

Geez, I rattle on, eh?
Greg S
eXp Realty
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Jamie private msg quote post Address this user
@txgreg66
Hey Greg
Yep I agree with you.
Every scan I do, I show the home owner the scan as I'm doing it, and the final result from another scan. I educated them as I go, everytime.
If the agent is on site, I do the same thing. Some see it as a great tool, others hate it as it shows the property as it is. When I do photography, I post process them to make the property appear much better than it is. It's just what you have to do in this industry to keep the agents happy.
Some agents complain they get less feet in the door as the potential buyer doesn't like the house. I always ask, how many homes have you sold to someone who doesn't like it? To someone who will not own that home for the best part of 30 years? They always stumble and say, well yeah, you're right.
Wouldn't they prefer avtually interested people rather than tire kickers. Or would you prefer to drive to a house to show it to someone who is st likely not going to purchase.

Now I'm rambling
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ron0987 private msg quote post Address this user
Greg
I totally agree we have been doing just that, we attempt to educate them but if that does not go good it is time to move on. In our area there are plenty of them to work with.
Ron
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DoyleRealtor private msg quote post Address this user
Most real estate agents are very frugal. Once they understand the benefit, and clients start demanding digital showings, it should gain more traction. Right now the people utilizing it are early adopters, and very forward thinking individuals. Unless it is sold as a package with photography, it will likely be a difficult sell to the masses.
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RenderingSpace private msg quote post Address this user
I'm having a lot of success in the Seattle market. It all depends on your marketing and how you present yourself.
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kc1302 private msg quote post Address this user
how do you guys market and present yourselves? Like popping in with a VRgear/tablet/presentation at a real estate agency? Any tips/tricks on that?
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