The commercial real estate industry is being revolutionized by the introduction of new technology. Whether it is listing a property or reviewing available properties, new technology has changed virtually every aspect of the industry. As new technology has become a staple of commercial real estate, an increasing number of investors have come to expect it. Matterport is just one of the companies now specializing in 3D camera technology. Last year, the company released a 3D camera along with cloud services and a web player that makes it possible for users to scan, upload, and view 3D models of both residential and commercial spaces.
How 3D Camera Technology Is Being Used
Based in Mountain View, California, Matterport's technology gives users the ability to provide virtual property walkthroughs as well as accurate measurements. The camera can be controlled via an Apple iPad. Floor plans and even dollhouse views can be shared through an iPad or even any computer.
Among the benefits offered by the new 3D technology is the ability for prospective buyers and tenants to navigate through a space in an entirely new manner. This is an ability that simply was not available with traditional technology, which did not allow buyers and tenants to view the full context of the way that a space fits together.
New Tech Companies Entering the 3D Camera Technology Industry
While Matterport may have been one of the first companies to make 3D camera technology available to the real estate industry, they are certainly not the only company doing so. Google has also introduced a prototype phone that makes it possible to create 3D models of scanned spaces. Apple Inc. has also scooped up an Israeli-based startup, PrimeSense Ltd, a firm that specializing in 3D cameras. Other firms producing and taking orders for 3D cameras include DotProduct3D and Lynx Laboratories.
As 3D technology becomes increasingly available and more popular, it has provided investors with vital information that can be used for making more informed property leasing and buying decisions. In many cities where real estate has attracted overseas investors and buyers or where properties are sold rapidly, this has resulted in an increased number of buyers and tenants who were not able to view a property in person before it went under agreement. Through the provision of virtual tours thanks to 3D camera technology, qualified tenants and buyers are now provided with far more choice along with the ability to prioritize available options. This new technology has also removed the time constraints that were frequently associated with viewings in the past.
Looking Toward the Future
3D technology, including cameras and scans are being invested in so heavily that real estate agents are now being told to prepare for a future in which such technology is the new standard. By eliminating the stress associated with viewings as well as eliminating the need to view listings that might not be suitable, 3D camera technology is helping everyone involved to save time.