Which 3D Home Tours Sell Homes Faster and For More Money?
It makes sense that in this day and age, 3D home tours on real estate listings positively impact home sales. But just how much they do may surprise you. In this article, we’re looking at national studies to shed some well-supported light on the subject of real estate technology.
While professional photography, virtual staging, and floorplans are all important tools be to considered and used when selling a home in modern times, we’re focused on the rise of 3D virtual tours here. After reading, we think you’ll agree that 3D home tours should be standard for every home listed by today’s real estate agents.
What are the Types of 3D Tours Used to Sell Homes?
What 3D video tours accomplish is to give the viewer—or potential home buyer—the feeling of being inside a listed home, able to see it from all vantage points. They also also help cut down on excessive viewings and foot traffic in your home by weeding out those who are not seriously interested. There are two top contenders to consider in the world of 3D video tours in real estate: Zillow and Matterport.
Zillow’s 3D Home Tours
Zillow is a brand everyone knows, whether they’re in the market to buy a home or want to sell their existing home. This online real estate source created Zillow 3D Home to help sellers and buyers alike.
You can create a 3D tour yourself with the Zillow app right from your phone or have your agent’s team take care of it. Zillow’s website claims that all you have to do is capture panoramas on any smart phone with that capability, and the app will do the rest. Their site also claims that listings using 3D Home get 43% more views than those without. They also claim that 46% of millennial home buyers say that touring a home virtually would give them the confidence to make an offer without having been in the home. Sixty one percent of home buyers say they would like to see more listings with 3D tours.
Zillow is the number 1 visited home search website in the U.S. See the top ten list here.
Matterport 3D Home Tours
Like Zillow 3D Home, Matterport 3D provides a way to create 360-degree videos of your home’s interior for the purpose of real estate listings. Unlike Zillow 3D Home, however, Matterport tours are generally created by professionals trained in the technology who have serious equipment and training to ensure quality results.
How we Help our Clients Sell Homes with 3D Home Tours
We use Matterport 3D tours for our clients’ listings and offer it at no extra cost for every listing. The Matterport 3D will also be featured on Zillow and provide all the enhanced expsoure on Zillow that a Zillow 3D would. In addition, Matterport 3D can be featured on nearly every major home search website in the U.S.
It isn’t enough to create a 3D tour and share it with your friends. The 3D tour needs to be easily accessible and available where the homebuyers are shopping online. Feel free to check! The top five used homebuyer websites to remember are Zillow, Realtor.com, Redfin.com, Trulia.com, and Movoto.com. For more, see our report on the 10 most visited real estate search sites here.
What Studies Show About Using 3D Tours to Sell Homes
According to the National Association of Realtors 2021 Profile of Home Buyers and Sellers, 95% of home buyers searched for homes using online search tools, with 41% making this their first step of the homebuying process.
In addition, two separate, independent studies were also undertaken to measure the quantifiable results of 3D home tours.
The first study, which used rigorous statistical analysis, was conducted by Kelly Anderson and K.T. Manis from the Jerry S. Rawls College of Business Administration at Texas Tech University. The research was conducted between November 2016 to November 2019 South, Southwest, Northwest and Midwest of the U.S. They tracked 143,575 listings with 3,935 of them having a 3D tour (over 90% were Matterport). Their multiple regression analyses were intended to test the impact of 3D home tours on days on the market and final sales price. In addition to the presence of a 3D video tour, final sales price, and days on the market, they also took into account variables like age of home, number of rooms, square feet, lot/land size, number of fire places, and pools, to name a few. In the end, they found that homes for sale with 3D home tours closed with a 4-9% higher sales price (depending on the market) and sold up to 31% faster (South market). Their results were stable over time with larger data available.
The second study, conducted by Sebastian Diessel, a real estate technology consultant, completed a comparative market analysis on 3D home tours. In this study, Diessel looked at 350 homes that used Matterport 3D home tours and 350 that did not over a period of 16 months from March 2018 to July 2019. His primary area of focus was in major metropolitan areas in the Southern U.S. As with the previous-mentioned study, Diessel looked at final sales prices and days on the market. He found that homes using 3D home tours sold 20% faster and for 4.8% more than those that did not.
Bottom line, both Zillow 3D and professional Matterport 3D tours help homes sell faster and for more.
Thinking of Selling Your Home in the Next 12 Months?
Our top 1% seller’s agents would love to schedule a time to visit your home and explain everything we do (based on research) that sells our clients homes faster and for more. We’ve been selling real estate in the Portland metro area for the past 19 years, and we’d love to put our expertise to work for you. Give us a call today or chat with the bot on this site. We’d love to connect!September 2, 2022