Matterport and FBS Partner to Introduce Listing-Completion Feature, Automatically Populating Property Data and Media Assets from Digital Twins, Leapfrogging Current Listing Process
Matterport (Nasdaq: MTTR) has partnered with FBS to integrate their digital twin technology into the Flexmls platform, enhancing the property listing process. This collaboration allows Flexmls users to upload Matterport digital twins, which automatically populate property data and media assets, including measurements, dimensions, and media files. This innovation streamlines the listing process, minimizes errors, and saves time by eliminating manual data entry. The partnership aims to provide accurate dimensional data to improve the buying experience for home seekers and enhance efficiency for real estate professionals. This new functionality benefits over 320,000 real estate professionals who use Flexmls, supporting informed decision-making and accelerating the home buying process.
- Integration of Matterport digital twins with Flexmls reduces manual data entry, saving time for real estate professionals.
- Seamless upload of photos, floor plans, and videos enhances listing quality and accuracy.
- Improved data accuracy with automated extraction of property measurements and dimensions.
- Enhanced home buying experience due to precise property information, aiding informed decision-making.
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Insights
Matterport's integration with FBS marks a significant step forward in real estate technology. By automating the entry of property data and media from 3D digital twins into the Flexmls platform, the process becomes faster and less prone to errors. This advancement can drastically improve the efficiency of real estate professionals, reducing manual data entry and minimizing mistakes. With automation powered by AI, this feature ensures that property listings are rich in detail and accuracy, enhancing the overall user experience.
In simple terms, a digital twin is a virtual replica of a physical property. By using these twins, Matterport is able to provide precise measurements and dimensions, which are then seamlessly transferred to the Flexmls platform. This saves time for agents and provides homebuyers with detailed and reliable property information.
For short-term implications, this partnership could drive increased usage of the Flexmls platform as real estate professionals seek to capitalize on these new capabilities. In the long-term, it could set a new standard for property listings, pushing competitors to adopt similar technologies. While this innovation is promising, it's also essential to monitor how well it integrates in practice and the potential learning curve for users.
From a market perspective, the partnership between Matterport and FBS can be seen as a strategic move to capture a larger share of the real estate technology market. By integrating Matterport's advanced 3D digital twin capabilities with the widely used Flexmls platform, this collaboration potentially creates a more compelling product offering, attracting both new and existing users.
The potential benefits for stakeholders are substantial. Real estate agents can offer better-quality listings with minimal effort, improving their service quality. Homebuyers can enjoy a more immersive and accurate home search experience, streamlining their decision-making process. This alignment could lead to increased user satisfaction and retention, boosting the overall value proposition of both companies.
It's also worth noting that this partnership demonstrates a growing trend towards the democratization of data in the real estate industry. By automating data entry and making detailed property information more accessible, it empowers both real estate professionals and consumers, fostering a more transparent market environment. However, it will be important to see how well this technology is adopted and whether it translates into increased market share and revenue growth for both Matterport and FBS in the future.
Matterport Property Intelligence and FBS technology unlock new Flexmls Platform functionality saving time and minimizing errors for Flexmls users while enhancing home search experience for buyers.
SUNNYVALE, Calif., June 27, 2024 (GLOBE NEWSWIRE) -- Matterport, Inc. (Nasdaq: MTTR), announced its partnership with FBS, the leading innovator of Multiple Listing Service (MLS) technology and owner of the Flexmls platform. FBS represents more than 320,000+ real estate professionals across the US and offers a comprehensive real estate technology platform that includes the Flexmls® system. Flexmls is a powerful MLS platform designed to provide real estate professionals with access to property listings, market data, and tools for managing their business. A fully mobile MLS system, the Flexmls Platform gives real estate professionals the autonomy to run their business on their terms.
This partnership enables Flexmls users to easily upload their Matterport digital twins, and autofill dimensional data from those twins directly into the Flexmls platform with just one click. Flexmls users will also gain efficiency through the seamless upload of Matterport media, including photos, floor plans, and videos.
Flexmls users are now able to auto-fill dimensional data directly from their Matterport digital twins, including room name, length, and width, and automatically populate that data in the Flexmls interface. Matterport’s AI-powered Property Intelligence automatically extracts measurements, dimensions, and room names from Matterport digital twins, providing prospective home buyers with accurate dimensional property data. This eliminates manual data entry for agents and back office staff, saving time and minimizing errors and omissions.
The integration and launch of these features underscore a mutual commitment to innovate, add value to and improve the agent + buying experience, democratize access to data, and set new standards for the listing process. "This integration with Matterport furthers FBS's mission to help our MLS customers aggregate the highest quality data and media for the benefit of their members and consumers. Our customers have been manually adding Matterport digital twins to Flexmls for years and, on the surface, this integration simply makes what they're already doing easier. FBS is always excited to make our customers' work easier but this integration goes far beyond that by increasing data quality with room and dimension data and automatically adding photos, floor plans, video, and photos in one process without our customers having to do any extra work. Equally important, this integration provides the license terms needed to include this rich content in our customers' MLS compilations, enabling them to remain the premier source of real estate data and media in their markets - meaningful innovation that benefits real estate practitioners and consumers," said Michael Wurzer, FBS President and CEO.
Dimensional data enhances the overall listing, benefitting both the listing agent and potential buyers who gain a deeper understanding of the property's layout and size. This information supports informed decision-making while helping them envision living in the space, factors that can simplify and expedite the buying process.
“Since day one, our mission has been to fundamentally transform how people understand and access the built world. Our 3D digital twin technology set the industry standard for the virtual tour, and now we’re automatically delivering precise property information to Flexmls customers for any type of property anywhere in the world,” said RJ Pittman, Chairman and CEO, Matterport. “Across the globe, Matterport serves nearly one billion virtual tours each year significantly enhancing the experience of exploring potential dream homes from afar. Our advancements in AI, automation, and property insights, when combined with our partnership with FBS, offer a solution that saves time by automating property data entry, enabling FBS's customers to better serve their clients with efficiency and ease.”
Matterport helps customers achieve better access as well as understand and utilize properties through its next-generation 3D digital twin solutions for Property Marketing, Facilities Management, and Design and Construction Management. Learn more about the company’s solutions at matterport.com.
About FBS
Nationally recognized and based in Fargo, North Dakota, FBS is the leading innovator and provider of MLS technology, currently serving 320,000+ real estate professionals on its premier Flexmls® Platform. Flexmls is one of many apps and software products built on the standards-driven Spark® API technology platform, the industry's first and most utilized API.
About Matterport
Matterport, Inc. (Nasdaq: MTTR) is leading the digital transformation of the built world. Our groundbreaking digital twin platform turns buildings into data to make every space more valuable and accessible. Millions of buildings in more than 177 countries have been transformed into immersive Matterport digital twins to improve every part of the building lifecycle from planning, construction, and operations to documentation, appraisal and marketing. Learn more at matterport.com and browse a gallery of digital twins.
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