Over 4% of US Homes on Sale use Matterport

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Video: WGAN-TV San Diego-based REALTOR Broker George Kenner on Using Video to Win More and Bigger Premium Listings-Gallery View (Watch 3:35 into the video)

Hi All,

"Over 4% of homes on sale in the US now have a Matterport 3D model," says Matterport Co-Founder and Board Member Matt Bell. (See complete text)

Quote:

Originally Posted by @DanSmigrod

Thanks to the effort of a large group of people (over 200 employees now, and many thousands of independent professional camera owners!) we’ve actually made a difference. Over 4% of homes on sale in the US now have a Matterport 3D model, and we’re becoming a general purpose tool used for everything from construction documentation to virtual shopping to remote experiences of travel destinations.

Plus, "Over 750,000 spaces have been captured in total, and we’ll reach a million before too long."

Quote:

Originally Posted by @DanSmigrod
... Over 750,000 spaces have been captured in total, and we’ll reach [b]a million before too long. 3D content is a new form of media, and we’re forming the foundation that enables app developers to build a wide range of industry specific apps that bring more value to this 3D content.

Is 4+ percent a lot or a little? (And, what about nearly 1 million Matterport 3D tours?) What is the potential upside for Matterport Service Providers and real estate agents that also shoot Matterport?

While one might say the upside is nearly 94 percent, when I chatted with San Diego-based REALTOR Broker George Kenner (@GeorgeK) on Using Video to Win More and Bigger Premium Listings (3:35 into the video), he let me know that 9 to 12 percent of REALTORS are using videos in their listings.

So, will Matterport 3D Tours meet or exceed the use of video?

Is it nearly 94 percent upside for Matterport and residential real estate listings?
Or, something closer - more or less - than the penetration of video?

Best,

Dan

7 years ago

@DanSmigrod
I for one call BS on the 4% metric- Video is probably pretty accurate at the 10-12% mark.

Here are my numbers- 5,250,000 existing homes sold in 2015, 510,000 new construction, NAR says 8% of home sales are FSBO and not included in the above number, which would add 420,000 units.
These are the most current stats I could get from NARs website without getting lost in their webpages- This obviously excludes family transfers after say probate, private sales, cash purchases etc.

Which would make 247,200 3d showcases per year, just in the US homes market alone, to have 4%.
They have captured roughly 750,000 total showcases since March 2014- to include commercial property, hotels, venues, boats/yachts, schools and obviously homes.

I would chalk this number up to creative math, like the stuff used to show that snapchat had a valuation of 22 billion.

Will they get to 4% market share? Yes, they have the backing and name recognition to be there. The only thing that will hold them up will be if there is a market shake up on the real estate side.

93	93 JakeRees private msg quote post Address this user	plus 1 plus 1 plus 1 0
	@DanSmigrod I for one call BS on the 4% metric- Video is probably pretty accurate at the 10-12% mark. Here are my numbers- 5,250,000 existing homes sold in 2015, 510,000 new construction, NAR says 8% of home sales are FSBO and not included in the above number, which would add 420,000 units. These are the most current stats I could get from NARs website without getting lost in their webpages- This obviously excludes family transfers after say probate, private sales, cash purchases etc. Which would make 247,200 3d showcases per year, just in the US homes market alone, to have 4%. They have captured roughly 750,000 total showcases since March 2014- to include commercial property, hotels, venues, boats/yachts, schools and obviously homes. I would chalk this number up to creative math, like the stuff used to show that snapchat had a valuation of 22 billion. Will they get to 4% market share? Yes, they have the backing and name recognition to be there. The only thing that will hold them up will be if there is a market shake up on the real estate side.
	7 years ago	Post 2 • IP flag post

WGAN Forum Founder & WGAN-TV Podcast Host 31.32K Website Atlanta, Georgia Linked In Facebook Twitter YouTube TikTok Instragram Matterport Service Partner Google Street View Trusted Photographer Zillow Certified Photographer We Get Around Network Member	31.32K DanSmigrod private msg quote post Address this user	plus 1 plus 1 plus 1 0
	@JakeRees Thank you for the backstory. It would be nice to hear from Matterport on how they did this calculation. Dan
	7 years ago	Post 3 • IP flag post

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