Property tours have changed forever: How a temporary fix became a permanent solution.
As office tenants worldwide begin to transition from working from home to returning to an office, one thing is for certain - the process of touring office space has changed forever.
As real estate professionals we are involved in daily conversations around the changing face of the workplace. With the unique set of challenges we face our solutions must be equally innovative and we must evolve as new information becomes available. As a firm, we have been early adopters of many technologies that are under utilized elsewhere in the commercial real estate industry. As a tidal wave of subleases begin to be placed on the market, now more than ever, it is imperative that your listing stands out.
Matterport technology has been a game changer for us. Matterport creates a 3D immersive virtual tour of an office space, allowing for incredible efficiency. This gives the ability for prospective tenants to view the space without having to step foot inside.
Why is Matterport a better way to tour?
- It provides a safe way to view a property, thus alleviating health concerns.
- Removing travel time is much more efficient.
- Properties can be vetted before touring physically.
- Virtual 3D tours are much more representative of a space than a photo.
- No need to align all of the stakeholders’ schedules since everyone can tour at their convenience.
- They provide an easy way to recall a space without having to retour it physically.
According to Matterport, “Videos fall flat and aren't interactive. Instead, an interactive, immersive Matterport Space gives more than visuals — it gives users the feeling they're actually there.” A Matterport 3D tour is created from a Matterport 3D Camera. With this incredible piece of technology the office is scanned with the camera then uploaded to the Matterport Cloud, where the data is processed and used to create the virtual tour.
According to the website, approximately 3x more time is spent engaging with property listings that offer a Matterport 3D walk-through experience. With current vacancy rates now surpassing those seen in the last recession, higher engagement translates into a reduction in time that a sublease will spend on the market.
Adversity breeds innovation and what started as a short term fix for recent challenges has given birth to a new mode of efficiency. The landscape is rapidly changing and the future is very uncertain. The real question is how will you make your property stand out?