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Matterport is NOT the future of real estate4075

GlennTremain private msg quote post Address this user
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....Im talking too much again....just hope everyone in your market thinks like you 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!!!
Post 1 IP   flag post
Integratedman private msg quote post Address this user
BOOM Mic Drop!!..
Post 2 IP   flag post
3SixtyNow private msg quote post Address this user
Love it! My wife and I are looking for a new home and we would never sit through an 8 min. video. I want to see what is important to me, not the listing agent. That's why I love the Matterport tours so much!
Post 3 IP   flag post
Dolloff private msg quote post Address this user
Well Done, Glenn!
Post 4 IP   flag post
GlennTremain private msg quote post Address this user
I hear you. I actually LOVE their videos...but compared to what you all can do? well videos like that without anything else won't do anymore. Remember it's not just the matterport but the marketing you can bring with it with all the WGA membership tools you get here. Ok back to work :-)
Post 5 IP   flag post
Expertise private msg quote post Address this user
The only parties truly Excited about sitting through a 7 or 8 minute (high quality) video are...

A- the seller


B- the ultimate buyer

You can parse Youtube stats all you want, but a high quality video can never really be too looooooong for the seller or the buyer. Nobody else really matters.
Post 6 IP   flag post
GlennTremain private msg quote post Address this user
Originally Posted by Expertise
The only parties truly Excited about sitting through a 7 or 8 minute (high quality) video are...

A- the seller


B- the ultimate buyer

You can parse Youtube stats all you want, but a high quality video can never really be too looooooong for the seller or the buyer. Nobody else really matters.

The problem with your premise is that the ultimate buyer didn't stay to watch the video.

YOU didn't watch it the full 8 didnt watch my video explaining it all the way through either...if you did you would see its not giving the ultimate buyer what they need. If two agents had the same property and 100 buyers looked at both presentations ...the one with the matterport, iguide, aerial, floor plans etc all on a listing website will win....everytime.

3D gives the viewer control, video dictates....that video is fluff and entertainment for those that are fans of the company. Serious buyers that don't want to waste time being restricted in their experience wont watch it.

Parsing stats? You mean analytics saying that people don't watch videos like that fully? Well its important. It's what is used to justify spending marketing dollars.

Some people throw stats and analytics aside and buy 5000 coffee mugs with their brand on it and think its effective marketing too.
Post 7 IP   flag post
grmngrl private msg quote post Address this user
@Expertise I create 1 minute video presentations, because people don't have a longer attention span. The problem with a video is that potential buyers can not just look at an area of the interest.
I respectful disagree that a video is a better tool than a MP or even a 360 tour.
Post 8 IP   flag post
Mikesobay private msg quote post Address this user
I watched a car drive up, someone get and and the minute her mouth opened I was done. Videos are not as informative as they are emotional. The music and the cuts create an emotive reference to the property. A video over 1.5 minutes is dead wood and a failure. A video with a realtor (and I'm a broker) yapping is an instant turnoff for most viewers. Matterport, on the other hand provides viewers the means to explore the house in detail--or not, whatever suits them. They have different purposes.
Post 9 IP   flag post
Namecomingsoon private msg quote post Address this user
I agree with your points- but certainly Matterport in its present form can only last so long. I think the future holds something more efficient then Matterport. The "future" to me, is something quick and easy that agents use themselves, no need to hire a provider. When a drone can create a Matterport quality model in a few minutes, I'll label it the future.
I really think we will look back before too long and say "I can't believe I used to lug that heavy thing around and spend an hour in each place, then another couple hours uploading and editing."
Post 10 IP   flag post
srennick private msg quote post Address this user
Spot on. Who has time for silly videos like that? Yes, excellent quality, but that will not engage me as a buyer. It leaves me exasperated and impatiently frustrated. And what if I don't like their personalities?
Post 11 IP   flag post
Woods private msg quote post Address this user
@Namecomingsoon, future scanning tech I want...

Post 12 IP   flag post
Helen private msg quote post Address this user
@GlennTremain You just gave them more hits on their video.
Post 13 IP   flag post
GlennTremain private msg quote post Address this user
@Helen haha....

I LIKE their videos and it does a great job in messaging that they are quality, fun and community minded. Their videos retain their sold client base that are looking and I bet they can show me proof their videos work.

In their area they are spot on for their sold client base.

However high end buyers, families that have to uproot their life to go see homes....the snowy weather...their video marketing doesn't get them like the WGA Power Marketing (MP, Iguide, virtual staging, floor plans, aerial video, etc.
Post 14 IP   flag post
GlennTremain private msg quote post Address this user
@namecomingsoon this all started from a article talking about virtual reality not necessarily Matterport. Matterport is awesome and here to stay however your membership here has you seeing (and getting discounts on)THE latest technology that is out there.

@DanSmigrod has done an incredible thing (dan send check to ....) creating a place for photographers, videographers, matterport, iguide, [insert the latest cutting edge thing here] professionals to stay on top and not be limited by a brand.

Virtual Reality gives your business the edge and discussions like have seen lately is fueling interest to hire you.
Post 15 IP   flag post
Gransky private msg quote post Address this user
Lets be honest, a viewer doesn't get past 60 seconds of that video. Video is visual and outside of the way too long establishing drone shot to demonstrate the house is embedded in trees, its 2 mins before any feature of the house is shown. It's 2 mins of a Realtor telling the viewer about the house, but not showing anything other than the Realtor talking.

This would be a great concept for a "House of the Week" segment or something similar, but man, if they think this video does a better job of showing off a house than a 3D Showcase, I just don't understand that logic.

Video absolutely has a place in real estate marketing. I produce a ton of 2 to 2 1/2 minute videos for Realtors. As more Realtors learn the importance of SEO and how to achieve better SEO results, the demand for video has risen with it. Matterport scans are up for us so far this year as well.

I know I'm biased because it's what I do for a living, but there's a place for both on every listing. It might not make financial sense to a Realtor, but if getting eyes on a listing is your goal, then both should be considered.
Post 16 IP   flag post
nat_vanveen private msg quote post Address this user
@glenntremain thank you for your great commentary and insights. And thanks to everyone in this thread, very interesting.

The vid: Yes beautiful looking, but... I only got to when she started to talk at the doorstep and that was enough.. I also thought that I am not interested in whether the office manager can accompany her on the tour?? I even was turned off by the length of time it took just for the vid to fly over the trees and actually get to the house, I was saying hurry up already, and thinking, well I'm going to keep watching because Glenn said so lol but ended up bailing at the doorstep

VR tours: Yes I agree your points are spot on it's all about 'personalisation'... what the viewer wants to see and whether they want to experience the spatial relationship with cutting the cheese in the kitchen!

Your tour commentary was actually quite compelling and highlighted that the viewer could be in control and not waste time and get their own feel for the space.

YouTube (Google) has been saying for years that their global stats show that sales/promo vids over 2 minutes are too long (excludes how-to educational), and we all know it's not hard to figure out what your audience's sweet spot is with your own viewer stats. I remember getting excited when Google said corporate videos without flashy branded intros had lower bounce rates and longer views...

I came across a small start-up in New York last year, the guys built a VR robot to follow around an agent to show high end apartments in a walk-through, but unfortunately, again, it was led by the agent and I wanted to get past where she wanted to linger... sorry I can't remember their name? Maybe they are a member of the forum (oops)...

Anyway that's my 2 cents
Post 17 IP   flag post
ShahBatroukh private msg quote post Address this user
Lol, 8 minutes? Good luck! As a producer of videos, and a MSP the two work well together, but only for 2 minute videos AT BEST.
Post 18 IP   flag post
frstbubble private msg quote post Address this user
In this thread, I talk about the photos vs video vs vr tours. There was quite a discussion here.
Virtual Tour verses Video
WP3D models give us the advertising package that satisfies all!

ROI on video is lower than VR. Much more post production work. Video, when used with YouTube, is great for SEO and listing ranking. Vimeo is great for control over where video can be used but not the #2 search engine that YouTube is.

I think those that want to succeed need to use the complete package, photos, video, and vr tour.
Post 19 IP   flag post
frstbubble private msg quote post Address this user
@Kevin_iGuide can you post a link to the article you referenced in the other post.

It shows what buyers want not what realtors want! Video #9 VR Tour #4

That is what should drive marketing what buyers want!
Post 20 IP   flag post
Property3dNZ private msg quote post Address this user
Lordy! 8 mins what are they thinking! I tried to stick it out but at the 3 min 32 sec mark I just couldn't take it anymore!! Who wants to see a real estate agent drive up the drive way in there fancy pants car and then the office manager in jandels?! Wow.
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