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GiropticOpenFrameVersus

OpenFrame for Real Estate versus Matterport8289

WGAN Forum
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DanSmigrod private msg quote post Address this user
Video: OpenFrame, easy video tour for real estate agents | Video Courtesy of OpenFrame YouTube Channel

Video: OpenFrame Online Sales Demo | Video Courtesy of OpenFrame YouTube Channel


Hi All,

OpenFrame is another option in 360º Tours meets real estate listings space. OpenFrame markets directly to real estate agents that are researching Matterport.

“There is a real market need for simplicity and affordability”, said Sean McGrail, OpenFrame's Chief Revenue Officer. “Our competitors in the space [like Matterport] tend to over-engineer the solution with layers of complexity, which adds to the cost, and ultimately renders the technology useless for the average real estate agent. The Giroptic camera hits the sweet spot of affordability, ease of use, quality imagery and simplicity. This acquisition gives us an unfair competitive advantage and the ability to grab significant market share.”' reports Atherton Research Vice President and Principal Analysis Jean Baptiste in this Forbes article.

"Pricing for OpenFrame starts at $24 per month or $230 per year and includes one Giroptic camera," according to the article.

Boston-based startup, OpenFrame, is less than a year old, with just $100,000 in annual recurring revenue (ARR), according to the Forbes article.

"Based on a recent Coldwell Banker survey, 84% of home buyers would like to see a video tour of a home prior to visiting the prospective property. Moreover, listings with a video tour receive 403% more inquiries from prospective buyers than those that don’t have a video tour," says the article. "Yet OpenFrame found that only 9% of agents use video for every property listing, while 75% of agents cited the added cost and time of creating a video tour as a barrier to creating video tours for every listing."

Your thoughts?

Happy holidays,

Dan
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Home3D private msg quote post Address this user
I watched both demos, and it's great that more companies are innovating approaches to real estate property promotion. Here are my thoughts.

First, disclaimers. I am probably the only real estate image-maker who is a longtime member of the Directors Guild of America and the Television Academy, so I'm pretty demanding regarding quality and a high level of service to my clients. I am a longtime filmmaker, photographer, Matterport creator and also regular user of the Zillow video app. I mention Zillow video because although this is a low-quality technology, it is easy to use and has been an effective promotional tool for properties not meriting high-end production videos.

The statistics quoted above - "84% of buyers would like to see video, or 3D tours" etc. are widely known thanks to NAR research. The key here is that it's BUYERS who love video, 3D, Matterport, etc. The problem is that Buyers don't steer the ship, listing agents do, and 90% of agents don't want to spend the time or money on anything beyond still photos. Want proof? Zillow videos are easy to create. I do them using a 3-axis stabilizer and rarely spend more than 30 minutes to complete one. I do this only as an add-on to other services like professional photography, Matterport, etc, but my clients really appreciate the service since it boosts ranking on Zillow. But despite this low cost and ease of use, few agents bother. I just did a search on Zillow in Beverly Hills, CA where the average home for sale is about $5M. This morning there are 178 homes for sale and only 5 have ANY form of video, both Zillow and professional combined. Clearly "ease of use" is not the issue, so let's set that factor to bed. Now Zillow is launching their new 3D Home "make your own walkthrough" system. It looks fairly easy to use, like OpenFrame's, and Zillow is promising further search rank boosting, but it's certainly not as easy as a Zillow video, so I wonder whether it will get much use after the initial fad cools. (comment: Zillow no longer boosts Zillow video-equipped listings the way they used to. It's now very short-term, a downgrade which I believe is a poor decision by Zillow.)

So down to my review of OpenFrame based on the two videos. It uses a spherical camera, but it doesn't create interactive walkthroughs (as the Zillow 3D Home does) so it's in no way comparable to Matterport. OpenFrame appears to create a linear video which the user watches from beginning to end, and during the entire time the screen image is rotating right-to-left. Watching on my computer I was getting dizzy, to be honest. I personally don't want to look at 360 images which are constantly rotating - the value of a 360 is I have the CHOICE to look any direction, so 360's which are not interactive I find pointless. When I shoot a simple Zillow video I often pan the camera, but the image moves spatially as well as I walk so it's lifelike, like walking through a home, connecting one room to another. Matterport spherical photos are also static, of course, but their system simulates motion by cleverly morphing from node to node, and empowers the user to choose how to move spatially through the home, communicating how rooms are connected, not to mention its unique Dollhouse view which my clients find the most seductive feature of all.

I commend OpenFrame for trying something new, but for me a traditional video, even a Zillow video, is preferable to a constantly rotating image. Their labeling is cool, but hey, if I see a fridge I know it's the kitchen. I've viewed thousands of traditional still photos of homes, and I've never needed a label like "kitchen" or "bedroom." Duh.

The value of any video, 3D or other enhancement to RE marketing is, IMHO, the degree to which it gives Buyers the experience of actually being in the home. THAT is what Buyers want - to attend an "open house" without having to get in the car, to preview homes so their precious in-person time is spend just on the 10% of homes they REALLY like. This requires interactivity.

It is for this reason that the marketing focus of Matterport and all other enhanced real estate photographic systems SHOULD be on the general consumer, not agents, not photographers. Only when BUYERS demand these presentational upgrades is when they will take off.

For example, Realtor.com makes the strongest use of Matterport. Imagine if Realtor.com's landing page had a large, attention-getting button labeled "Search for homes with Matterport 3D Tours". In time, Buyers would start to expect listings to include MP and then, only then, would agents scramble to provide them universally.
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DanSmigrod private msg quote post Address this user
Dear Matterport and Realtor.com,

Quote:
Originally Posted by @Home3D
It is for this reason that the marketing focus of Matterport and all other enhanced real estate photographic systems SHOULD be on the general consumer, not agents, not photographers. Only when BUYERS demand these presentational upgrades is when they will take off.

For example, Realtor.com makes the strongest use of Matterport. Imagine if Realtor.com's landing page had a large, attention-getting button labeled "Search for homes with Matterport 3D Tours". In time, Buyers would start to expect listings to include MP and then, only then, would agents scramble to provide them universally.


Like he said!

Dan
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