Virtual home tours are a popular way to showcase a rental property. However, the COVID-19 pandemic made virtual touring a necessary ingredient to success. Using these models allows the viewer free reign to explore the property from the comfort and safety of their own home. Essentially, this creates a 24/7 open house! That said, Matterport is an industry leader in the capturing and optimization of 3D model tours. Let’s take a look below at the benefits of Matterport and how using virtual tours can elevate your marketing to the next level.
What is Matterport?
Founded in 2011, Matterport’s all-in-one platform helps viewers interact with real-life spaces through an immersive 3D model. Using a 360 camera, users can convert 2D spaces into an explorable space that gives viewers the sense of really being there.
Clients use a camera to scan the space and take photos at certain points throughout the space. Then, Matterport’s software creates a highly accurate 3D digital version of the space. Therefore, creating a huge step up from still photos or panoramic scans. However, users must utilize a compatible camera such as one from the list below –
- Insta360 Cameras One R
- Insta360 Cameras One X2
- Ricoh Theta 360 SC2
- Ricoh Theta 360 Z1
What Sets Matterport Apart?
In addition to easy-to-use software, there are additional benefits of Matterport for landlords. These key features below can help set your listing apart from the crowd and generate additional leads to get your property rented faster.
- Effortlessly share 3D tours on social media sites (Facebook, Instagram, and YouTube)
- Compatible with Google Street View, Zillow, MLS, Realtor.com, and many more!
- Generate a guided tour to show off the highlights of the property
- Measure the space
- Add Mattertags™, allowing you to share things like appliance manuals so they never get tattered or lost.
How Much Does Matterport Cost?
Like many online platforms, one of the benefits of Matterport is a range of plans to suit any need. Therefore depending on your portfolio or business goals, landlords can choose the plan with their desired features and within their budget. Check out this quick guide below, and be sure to visit Matterport’s plan comparison page for more information.
- FREE – Unsure if Matterport is right for you? Start with 1 free active model and try it out for yourself!
- Starter – $9.99 Monthly for up to 5 Active Models
- Professional – $69.00 Monthly or $708.00 Annually for up to 25 Active Models
- Professional Plus – $129.00 Monthly or $1320.00 Annually for up to 50 Active Models
- Business – $309.00 Monthly or $3228.00 Annually for up to 100 Active Models
- Business Plus – $689.00 Monthly or $7118.00 Annually for up to 250 Active Models
Benefits of Matterport 3D Tours
When it comes to 3D tours, the benefits of Matterport far outweigh the cost for most users. After all, 95% of prospects are more likely to call regarding an in-person showing after this type of engagement. Let’s take a look at some of the benefits of Matterport below –
- Professionalism – As a landlord, presenting a cohesive and professional appearance to potential applicants is key. This demonstrates a level of care for your rental property business.
- Boost Engagement – Studies show that 3D virtual tours generate around three times the engagement of standard 2D photos. So, in the highly competitive rental industry, adding a 3D tour is a great way to boost listing engagement.
- Save Time and Maximize Leads – One of the best benefits of Matterport is the ability to realistically tour a home through an online listing. Therefore, this helps to attract leads but also weed out those who are not truly interested. Thus, saving the leasing agent time by avoiding wasted showings to those with no intention of renting.
- Reduce Vacancy – Combining increased prospect engagement focusing on high-quality leads means Matterport can help reduce vacancy time.
- Reusable Tours – A great feature of 3D tours from Matterport is that they are useful year after year. So, landlords can continue to present a property in its best light as tenants move in and out. Therefore, allowing you to market a property faster and more effectively.
The Future of Matterport
The future looks bright for Matterport! In February 2021, the industry’s leading special data company signed an agreement with Gore Holdings VI led by billionaire investor Alec Gores. Therefore, allowing Matterport to go public in a deal that values the startup at well over 2 billion dollars.
This merger and NASDAQ listing is set for Q2 of 2021 and will appear as the ticker symbol “MTTR.” Furthermore, it allows the company to expand the current model and use its proven track record to digitize millions of buildings across diverse markets.
The deal breaks down as follows –
- Matterport will receive $345 million from Gore Holdings VI’s cash held in trust.
- The company will also get $295 million of private placement of public equity, led by Tiger Global Management, LLC, Senator Investment Group, Dragoneer Investment Group, Fidelity Management & Research Company LLC, BlackRock, Miller Value Partners, and Lux Capital.
- With a merger valuing the company at $2.9 billion equity value, or $2.3 billion enterprise value, the stock is likely to begin at $10 per share.
Maximize Rental Marketing with Property Management
When it comes to effectively marketing a rental property to limit vacancy, local knowledge, and the latest technology is crucial. The Bay Property Management Group experts aggressively market your rental property and maximize every lead to minimize vacancy time. Our team is proudly serving Central Maryland, Washington DC, Southern PA, and Northern Virginia, focusing on full-service property management. To get started with your free no-obligation rental home analysis, give us a call today!