It’s no surprise that during a year in which most of the world's population was confined to its homes, at some point there would be a great proliferation of technology that enhances property listings. Although prior to 2020’s lockdowns we reported on a few deals being done between forward-thinking agency groups and providers of ‘listing-tech’, the prevalence of press releases announcing these sorts of deals around the world is seeing a marked increase.
This week has seen a deal between market-leading US-based listing tech provider Matterport and Singaporean agency franchise group ERA. Under the deal, up to 17,300 real estate agents in the city-state will have access to an “easy, low-cost way to capture 3D virtual tours of properties” via either a Matterport professional or by purchasing their own Matterport cameras.
The company, which saw a 600% increase in 3d camera sales between the start of the Covid outbreak and the beginning of April, has been very busy negotiating deals and breaking into new markets. London-based competitors EyeSpy360 have also made some waves by signing contracts with Re/Max and leading Irish portal Daft.
As signing contracts with a ‘listing-tech’ provider becomes the norm for large estate agencies and portals, so startup disruptors have come on the scene. This week also saw a deal announced between US agency group BHHS Fox & Roach and Asteroom, a relatively new company on the scene.
Consumers increasingly expect a more immersive experience when viewing property remotely and ‘listing-tech’ companies are expanding their horizons overseas. We can expect these deals to become far more common and for companies to adapt their offerings around listing-tech to suit portals and agencies.