Results from two different researchers show that Matterport 3D virtual walkthroughs can have a measurable effect on real estate transactions.
For the past five years, agents and brokers worldwide have used the Matterport 3D virtual walkthrough to differentiate their real estate services and bring the concept of a 24/7 virtual open house into the mainstream. Now, preliminary results from two separate studies indicate that listings with a Matterport 3D virtual walkthrough sell for a higher price and can spend less time on market than homes listed using a traditional marketing package.
The first study used an academic statistical analysis of MLS (multiple listing service) transaction data from four markets across the United States in the South, Southwest, Northwest and Midwest. It showed that depending on the market, the average listing with a 3D tour sold for up to nine percent higher and closed up to 31% faster. Over 90% of the listings with 3D tours used Matterport.
A second study analyzed one of the MLS datasets of the same metropolitan areas (South), but used more traditional comparative market techniques similar to how a real estate agent “looks for comps.” This study also showed that homes with a Matterport 3D digital twin sold 20% faster (fewer days on market) than properties that did not have a Matterport 3D virtual walkthrough.
A variety of factors go into how long a property stays on market and its sales price. Controlling for these other factors was a key part of both studies. Future research will continue investigating the sustained effect of 3D virtual walkthroughs.
4-9% higher sales price.
31% Decrease time on market.
15% Increase time on site.
95% more likely to call about homes with 3D virtual tours.
20% of offers made without a home visit.
74% of agents using Matterport win more listings.