How CoStar Acquiring Matterport Affects Real Estate Photographers that Offer MatterportCommentary and analysis by:Dan SmigrodFounder and Managing EditorWe Get Around Network and WGAN-TVAtlanta, GeorgiaIf you are like most of the 18,000+ monthly readers of the We Get Around Network Forum — a real estate photographer that offers Matterport to help sell, lease or rent residential and commercial real estate — you are likely wondering if the news Monday (April 22, 2024) that Matterport has entered into a definitive agreement to be acquired by CoStar Group is good news for you.Congratulations. You won the lottery.For real estate photographers that offer Matterport, the symbiotic relationship - like bees and flowers - of Matterport and CoStar will result in:1. Increased demand for Matterport digital twins from CoStar clients not presently using Matterport2. Increased demand for Matterport digital twins from CoStar clients using Matterport3. Increase demand for Matterport digital twins from non-CoStar clients4. Higher Add On prices for Matterport digital twins as we know them today5. leverage Matterport’s spatial data6. More demand for professional images, video and aerial services7. More demand for related digital marketing services such as 3D/360/2D virtual staging8. More Matterport Partners offering integrations for residential and commercial real estate9. Matterport seamless integrations among Matterport, CoStar brands and enterprise clientsCoStar excels at creating, acquiring and growing property marketplaces for selling, leasing, renting and managing residential and commercial real estate. And, as a result of being a very big client of Matterport for nearly 10 years — CoStar’s research shows that its marketplace listings with Matterport digital twins increases time spent viewing listings.That likely translates to:1. Sellers using Matterport virtual tours get more offers, sooner resulting in more money2. Real Estate agents and brokers win more and bigger premium listings3. Buyers, lessors and renters have more confidence making decisionsWe Get Around Network Forum readers likely have used these talking points for years to help sell Matterport as an Add On for marketing and managing properties.According to the CoStar media release on Monday, “CoStar Group operates some of the most effective and widely recognized real estate information solutions and online property marketplaces in the world including Apartments.com, LoopNet, CoStar, and Homes.com, all of which feature Matterport’s 3D virtual tours. CoStar Group was one of the first adopters of Matterport’s technology, and currently has almost 300,000 Matterport digital twins available in the CoStar information product and online property marketplaces. Advertisers on CoStar Group marketplaces clearly recognize the value of Matterport virtual tours. In March 2024, there were over 7.4 million views of Matterport 3D Tours on
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