Matterport Partners with REA Group to Launch Virtual Property Viewing App
Matterport, the company behind the technology that allows users to convert real-world environments into immersive 3D models, has announced a new partnership with Australia’s largest real estate portal, REA Group, at SVVR 2016.
This collaboration will result in the launch of a new app enabling users to visit properties remotely, removing the need for physical travel during the viewing process.
Transforming Property Search with VR
Matterport, based in the United States, is known in the VR world for its camera and software system that scans and meshes physical spaces, then overlays them with photo-realistic textures.
REA Group has developed an app that hosts hundreds of models captured using Matterport’s technology. Users will be able to explore entire properties at full scale through the Samsung Gear VR, delivering an experience that closely mimics being physically present.
Users can browse properties by city, property type, and other filters, much like established platforms such as Home Finder.
Why It Matters
Scepticism still exists in the real estate sector around the idea that buyers need to physically walk through a space before making purchasing decisions. But Matterport is challenging that narrative with data.
In an interview with VR Related’s Alecz Girardeau, Matt Bell, Co-Founder and Chief Strategy Officer at Matterport, shared compelling figures:
“People are 65% more likely to email and 78% more likely to call with an enquiry after viewing a property using this platform.”
What This Means for Real Estate Professionals Worldwide
Though the app is launching in Australia, Matterport is developing an SDK that will allow third-party developers to integrate Matterport models into their own real estate platforms. This opens the door for global expansion as VR becomes more mainstream.
Matterport is already working with major industry players such as Apartments.com and Redfin, and has begun expanding into adjacent sectors including tourism, venue promotion, architecture, and hospitality—essentially, any industry that benefits from spatial decision-making.
“At this point, our customers have captured almost 200,000 spaces, and this month alone we’ve had 6 million model views,” Bell said.
Remote Buyers and Shifting Behaviours
One of the most telling developments: people are already purchasing properties sight unseen, based purely on Matterport models. For international or remote buyers, this technology offers a clear solution.
How It Works
Matterport’s camera system captures a 3D, 360-degree model of a space by rotating on a fixed axis. Each sweep collects both colour and depth data for every pixel. The operator then moves the camera to new locations within the space to capture alternate angles. Once sufficient data is collected, the system stitches together a seamless virtual model.
Once completed, the model is uploaded to Matterport’s cloud platform. From there, it can be embedded on websites or viewed through a VR headset like the Gear VR.
The Matterport camera currently retails for $4,500—a price point that reflects the device’s capabilities but may give smaller agencies pause. To increase accessibility, Matterport also connects clients with freelance content creators in their area.
What’s Next?
Matterport hasn’t announced a definitive release date for the REA Group app but says it’s coming “soon.” As for the SDK, Bell notes that a Unity plugin is still a few months away, but the company also plans to launch an automated VR conversion service and Google Cardboard support in the near future.
If you want to learn more about Matterport and their services, visit their official site—and stick with VR Related for the latest as this story develops.
