How 3 D is changing real estate

December 1, 2014 Journal 0 Comments

How 3-D is changing real estate

3D

Photo-realistic representations of listings could alter value propositions, commissions of real estate agents

Real estate agent Shawn Battle recently received a flood of questions about one of his listings from an agent representing a relocating buyer. The real estate agent could have answered all of the buyer’s questions. He sent an online 3-D model of the listing instead. “That made all the difference,” said Battle, an agent at Century 21 Redwood Realty, a Washington, D.C.-area brokerage. “They ended up not buying the listing, but they said it was really helpful.” Battle is among a growing number of real estate agents who are using online 3-D models to win clients and prequalify buyers. The virtual models are a way for agents and brokers to differentiate themselves — for now. Some tech observers say they could become par for the course in the years ahead, as their cost plummets and user experience improves.
If 3-D models become widespread, they could help weed out “lookie loos” who aren’t serious buyers, freeing up agents to spend more time as negotiators and navigators. But 3-D models could also make agents less important as tour guides and salespeople, both elements of their traditional value proposition to clients.