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1st to Market with Matterport an Advantage?5562

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DanSmigrod private msg quote post Address this user
Hi All,

A new Matterport Pro sent me this email ...



Hi Dan,

I have watched your video and comments and am wanting some more advice as you seem to be the man to ask.

I live in [location] and I can see there are only a handful of MSP´s here.

I am a decorator for interiors and wish to expand my business. I live in area with a huge potential for using the camera for real estate, interiors, hospitality tours and I am an amateur photographer.

I am not quitting the day job but believe if I am the first one here to offer the service, it may go well and I think all this 360 stuff is going to catch on in a big way. Would love your thoughts.



And, my reply ...

Hello [redacted],

Thank you for reaching out and your kind note.

I could not tell from your email if you already bought a Matterport Camera ...

1. If you have not bought a Matterport Camera yet, I recommend engaging a Matterport Pro until you know that you can generate enough business to justify the investment.

2. Many of us - me included - were first to market and were surprised that it is much harder than imagined to get orders from real estate agents. What seems obvious to us - win more and bigger premium listings - still can be a hard sell.

3. As far as I know, there is no Matterport Pro that makes a full-time living from Matterport. So, great that you are not quitting your day job. If you can get more decorator projects as a result of using Matterport, that might be your competitive advantage.

4. While we all agree that this 360º stuff will take off, it still can be a challenging business (unless you already have clients where Matterport Spaces 3D Tours are an optional extra (or bundled).

I started a discussion in the We Get Around Network Forum to see if Members have additional thoughts on this topic.


Post 1 IP   flag post
Bale100 private msg quote post Address this user
I'm not sure of the location of your new member, however I do have first hand experience of selling Matterport and other services into Real Estate, Tourism & Hospitality in Europe.

There will likely be different views in parts of North America where prospects appear to be more rational in terms of adoption.

We all know the value proposition for 3D Tours in these sectors and it is as clear as day to Matterport Service Providers (MSP's); Multi-view, Save time, Reduce Wasteful Viewings, Set The Right Expectation, Build Trust & Confidence, 24*7 Open Property, Reach Remote Prospects, Differentiate etc.

Unfortunately, this does not resonate with Residential Property Owners, Estate Agencies and Hotel / Tour Operators in terms of generating sustainable and consistent opportunities.

1. Real Estate is a speculative market driven by Greed, Fear & Hope.

- Greedy Property sellers overvaluing properties and will not spend upfront. Think everyone else should pay for their marketing costs; Buyers, Agents etc.

- Estate Agents try to win listings without committing to overspend as they fear losing the listing / sale (due to non exclusivity to the sale), the owner withdrawing leaving them out of pocket or overpriced properties don't sell quickly. Agents also fear that if they show too much, buyers will not view in person.

- Hope that they find a Greater Fool willing to pay more than they did including transaction costs and taxes so properties sit on the market for extended periods. Hope that buyers will look past badly presented properties in person. With 360˚, these properties are immediately exposed.

2. 360˚ shows everything 'Warts and All'

- Lower grade Hotels etc. are usually trying to hide something

- Higher grade Hotels want absolute perfection - most of their marketing material has been dramatically manipulated i.e. photoshop and currently Matterport can't be edited

- Some establishments fearful that it removes the 'surprise'

- Challenge with Tourist attractions, Museums etc. is that there are not enough of them.

- Seasonality & availability to scan due to client bookings & weather.

With regards to first mover advantage, take a look at Nokia OZO - today they have just announced that they are pulling out of the VR market.

Partly to do with the slow adoption of VR, but also likely that competitive cameras are now 1/10th of the price tag of the OZO.

3D Virtual Tours are an 'Add On' in Real Estate, Hospitality, Tourism etc.

If you can find solutions to clients problems or demonstrate that it is self funding e.g. Holiday rentals then you improve your chances of success.

Problem is there are few rational prospects who take time to consider the arguments.

Likely you will find that most established MSPs have to innovate and add additional services / offerings to their value proposition.

Bottom line - consider other sectors and additional products / solutions. Run these by your clients to see if they will commit to purchasing.

Best regards,

Post 2 IP   flag post
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