Next in Housing Market: Digital 3-D

High-definition, 3-D walk-throughs of real estate listings are gaining popularity in Manhattan and other markets, making it easier for apartment hunters to weed out units that do not meet their needs. A tool implemented by Halstead Property, for instance, lets buyers enter a room with a click of the mouse and look through the windows or check out the appliances. “It’s all about additional transparency for the consumer,” says Halstead Property CEO Diane Ramirez. “[While the edited videos] give you the essence of the apartment, this allows you to delve into the actual rooms.” The company uses the 3-D system from Matterport Inc., which charges $4,500 for a camera and $19 per tour as well as monthly hosting fees. Matterport CEO Bill Brown says that, eventually, cellphones will have built-in 3-D capture technology. Elissa Burke, a broker with Halstead, says 3-D walk-throughs will be important features for foreign buyers and those who are undecided. “[Even before 3-D,] people who are undecided, they go back over to the pictures and the video over and over again,” she says. | Read More