From Content to Close: Selling Extraordinary Spaces with VR
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Hopscotch Interactive founder Emily Olman shares her insights into making Real Estate VR (Virtual Reality) content with Matterport 3D Pro, and other ways to monetize new media content for real estate marketing. This deck was presented at the Augmented World Expo Asia in Xi'an, China September 24th, 2016. She founded Hopscotch Interactive in 2015 to promote extraordinary spaces in 3D & VR.
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From Content to Close: Selling Extraordinary Spaces with VR
- 1. From Content to Close: Selling Extraordinary Spaces with VR Emily Olman, Founder Hopscotch Interactive
- 2. Emily Olman Founder, Hopscotch Interactive 15+ Years in New Media Monetization MBA, BA 1998 2015-1999 2003 2011 @hopscotch_biz #hopscotchinteractive
- 3. 2 Key Questions: 1) How can I best help someone sell spaces? 1) Can I make them more successful? @hopscotch_biz #hopscotchinteractive
- 5. Tool kit: Matterport 3D Pro • Built-in HDR, and 1920x1080 downloads • Infrared scanning technology • Captures textures and 3D mesh • Automatic stitching • Generates OBJ file of model • Proprietary editing software • Subscription cloud-based storage • Converts to VR • Many people’s first VR content @hopscotch_biz #hopscotchinteractive
- 8. Extraordinary Locations Greenbaum House, Filming Location, Rancho Mirage, California
- 9. West Oakland Live/Work Architectural Masterpiece, Michael Tolleson, Oakland, CA Extraordinary Real Estate
- 10. Weddings & Corporate Events, Sonoma County, California Extraordinary Venues
- 11. Krewe of Kolossos, New Orleans Curated Short-term Rentals, Pop Pad Berkeley Extraordinary Visits
- 12. Challenges All Properties Share • Visualization is hard • Markets are seasonal • Prospect located elsewhere • Photos lack context • Fiercely competitive markets • Time is scarce • Mistakes are expensive @hopscotch_biz #hopscotchinteractive
- 13. What VR Solves • Time-shifting • Place-shifting • Relational, 360° experience • Impactful, and persuasive • 1st person experience, “I was there” • Reduces risk • Enables a decision-making environment @hopscotch_biz #hopscotchinteractive
- 16. Case Study: California Real Estate Listing
- 17. Hillside Gardens Apartments El Cerrito, California Estimated $8.25 Million International marketing planned, including China@hopscotch_biz #hopscotchinteractive 26 Units
- 19. What I’ve Learned • Ironically, VR must be experienced • B2B clients want and need scalability • Different platforms excel with different uses: i.e. built spaces vs. new construction • Experimentation and collaboration are essential • Learning by doing is best • Successful, happy clients = repeat business @hopscotch_biz #hopscotchinteractive
Editor's Notes
- The title of this talk today is content to close, selling extraordinary spaces with VR. But I’m here today to talk to you about the here and now, and about having a 3D | VR content business and that content being created to motivate purchase intent
- So how did I get into this business? In college I wrote my senior thesis on the genesis of the cyborg, After that, I worked in the Video Game Industry and Japanese Anime industries and was part of a very small group of people trying to monetize video on demand and other media in the digital space. So, new media monetization, and in general selling space, is something I’ve been doing my whole career. In early 2015 I began making 3D models with Matterport 3D Pro cameras.
- So I started Hopscotch because I wanted to answer two key questions: How can I best help someone sell a space Can I make them more successful. And the reason I asked those questions is pretty simple: if I can make you more successful, I will always have business!
- The Jungle of the VR Industry Landscape put together by Tipatat Chennavasin at the VR Fund (currently deploying $50 million into the space). As far as I’m concerned, these are all relevant to my business, because as this thing grows, everything from the reality capture and the distribution models, al the way to how the content is deployed is important to understanding the space. The company is media agnostic by design, but I am going to talk today about the first way that I was able to make my first VR content and use it for marketing spaces.
- Market Traction? More than 250,000 scans and 1-2% of market penetration in the United States, so there is still a long way to go! According to CNN, Sotheby’s International Realty San Francisco using VR for 33% of listings moving to 2/3 of listings Cushman & Wakefield Using VR for a new mall…using VR to sell retail spaces Commercial Real Estate is catching on And, one of the clients that I work with actually didn’t want me to talk about their business today, because VR is their secret sauce, so I am going to talk about a few other clients
- So since I started the business, I have marketed millions of dollars worth of real-estate. The orders of magnitude are staggering, especially in markets where real estate demands huge premiums. Here are some examples of 3D|VR Greenbaum House, filming and photo shoot location, this home is being used to rent for agencies and so we did a full 3D model of the home
- This home is an exquisite new construction in West Oakland, for this home we did 3D only The global real estate market is $12.9 trillion dollars, and the global automotive industry is $1.65 trillion dollars for comparison.
- 3D & VR are planned for a dozen vineyards and wineries in Sonoma County starting this month. The wedding industry is a $300 billion dollar industry which is 3x the size of the gaming industry worldwide The Global Real Estate Market is $12.9 trillion in size, according to DTZ Research, and BlackRock projects that it could grow to $23.9 trillion by 2020. $12.9 Trillion vs. $1.65 Trillion Global Real Estate = 8x Global Automotive $300 Billion vs. $100 Billion Global Wedding Industry = 3x Global Video Game Industry
- Short-term vacation rental. Airbnb right now only allows photographs except with about 40 listings that they are testing with this technology. So that’s actually not too far away. A 2015 estimate of Airbnb’s room nights was 37 million nights per year across about 1 million properties. This is the Pop Pad Berkeley by Spacepop Design, and they own a number of rentals, so this has really helped them with bookings.
- Different media accomplishes different things, but VR has a specific solution and that is ultimate that it sells, motivates, and enables a decision making environment. Much like in the advertising industry and the early days of video-on-demand, we were thrilled that we could time shift –it was a revelation. Now, we are able to place shift, and by doing that we actually can visit many, many places from an office or from our home
- Lots of added value for the client, but also for me, the provider of the content, because once we have the media we can do so many awesome things with it!!!! Statista: 207.2 Million Smart Phone Users in USA (2016) Monetize New Technology Create share-worthy media and value for clients, and monetize new media eeGeo – Interactive 3D/VR Mapping Platform Virtual Brochures 3D Virtual Map Facebook Website
- El Cerrito California $8,000,000 listing 26-units Chinese Investor VR, Video, Websites, and all marketing channels to get it out there…
- Matterport 3D|VR Showcases Still |360° Photography Sometimes we collaborate, and sometimes we innovate One size does not fit all
- Each time I’m enabling sales and successful, happy clients.
- Please be in touch!