The real estate services firm is using a 3D virtualisation tool from Matterport, which develops a ground-breaking spatial data platform that turns buildings into data – and turns them into digital assets. The use of this virtualisation tool comes on the heels of a global agreement that Cushman & Wakefield signed with Matterport last year.
"We were first acquainted with the Matterport platform when we were exploring the best way of introducing properties for rent during the pandemic,” said Keiji Kato, senior director and head of Leasing Advisory Group, Japan at Cushman & Wakefield.
“Matterport allows us to conduct high quality virtual tours for our clients with its ability to produce a highly photorealistic digital replica of the actual physical space. We have now introduced this service across all the properties that we lease and manage, and it has proven to be very effective in differentiating us from our competition. We believe that virtual tours will remain necessary even after the pandemic, and we will continue to use this platform as one of our key property marketing tools,” Kato added.
Matterport's AI-driven visualisation technology scans an existing space and reproduces it in digital form. This "digital twin" is a versatile asset within the commercial real estate industry, including in providing virtual tours of properties with detailed floor plans and a "dollhouse view", which provides prospective buyers and tenants with a dimensionally accurate and immersive view into a space.
Matterport enables Cushman & Wakefield to provide property inspections that keep clients and professionals safe during this COVID-19 pandemic, eliminating the need to be present in the space physically. Because of this, Cushman & Wakefield is also able to deliver additional benefits to clients such as reduced travel and fewer visits to a property, producing overall time and cost savings which will remain relevant beyond the pandemic.
According to Matterport, 3D virtual tours increase audience engagement by over 300% in comparison to 2D imagery. The technology helps in making better informed decisions by providing a multi-dimensional view of the venue, enabling more effective property inspection and marketing of assets.
"Japan's commercial real estate sector is one of the most competitive, so firms must constantly differentiate to win clients. Matterport's technology enables agents to achieve an edge through authentic, immersive and navigable 3D experiences,” said Howard Xiao, Japan country manager at Matterport.
He added: “By leveraging Matterport's powerful technology and insights, Cushman & Wakefield is positioning itself at the forefront of the sector's ongoing transformation, which harnesses technology to drive deeper engagement, analysis and understanding of listings. Increasingly, clients are turning to Matterport to capture their real estate portfolios due to the significant add-on benefits realised. We are delighted to be selected by Cushman & Wakefield Japan for all of their Leasing Management mandates."
In addition to remote site inspections, Cushman & Wakefield is using Matterport technology in project management to enable clients to monitor the progress of their projects and access the digital twin online from anywhere, and at any time regardless of property or audience location.