Case Study

THE CHALLENGE

Improve agent efficiency and leverage new marketing technology

Carpenter Realtors is a market dominant, residential brokerage that distinguishes themselves throughout the midwest with their comprehensive Home Marketing System. After seeing Matterport’s immersive 3D real estate tours, David Caveness, President and CEO, recognized a huge opportunity to help his agents win more listings, but was unsure if agent adoption would be high in their mid-range market.

- Unsure of agent or client demand for 3D tours

- Need to justify cost of camera

- Average cost of home lower than national average

THE SOLUTION

Streamline operation, hire independent contractors to stay cost-efficient

Carpenter Realtors drove agent adoption by internally marketing the service to their agents during a launch meeting at the beginning of the year. They developed a streamlined system for ordering and hired 4 different independent contractors to operate the camera across their regional network of listings to keep costs low.

Management set up a free Google Form to log scan requests and created a custom system to schedule scan requests in bulk to maximize efficiency.

z The in-house marketing team then QA's the 3D models and distributes marketing collateral and online links to the agent team.

THE RESULTS

120 3D models created in only 4 months, 40% for under 3,000 sq ft

In the first 4 months of Matterport utilization, Carpenter Realtor agents requested over 120 3D models and had +20 in the queue to be scanned in the next week.

By leveraging independent contractors, Carpenter Realtors was able maximize the usage of the Matterport Pro 3D Camera and keep operational costs well under budget. Though initially concerned over agent adoption, consumer demand for Matterport continues to grow and agent adoption continues to be high.

Carpenter Realtor agents agree that Matterport tours help bring in more qualified buyers, resulting in fewer showings where it is not a match. This also keeps the costs for unnecessary live showings down.

“Matterport is helping us draw in interested and qualified buyers before they even visit the house. We’ve been able to increase the efficiency of our agents by not having as many live showings, and focusing our time on the more serious buyers.”

David Caveness
President and CEO, Carpenter Realtors

Cressy & Everett

About

Carpenter Realtors was recently named one of the top 100 Real Estate Firms in the USA by Real Estate News and featured in the Indianapolis Star for using Matterport to enhance their property listings. They are the top residential brokerage in their market.

+119

listings captured in 3D in 4 months

40%

of scans for listings under 3,000 sq ft

Locations

9 offices spanning Indiana

KEY STATS

190 agents managing 950 active listings

Typical price-point is sub-$125,000

3000 sq ft median home size

“There isn’t a better way to view [a listing] without actually standing in the home. As so many buyers first shop via the Internet, this is a tremendous tool for the difficult-to-photograph large homes.”

Connie Derrick
Agent, Carpenter Realtors

“We have always offered the most comprehensive marketing package in our marketplace. Being very tech-forward helps us attract and retain top agents in our market.”

Jim Newell
Director Marketing, Carpenter Realtors

“Matterport is helping us draw in interested and qualified buyers before they even visit the house. We’ve been able to increase the efficiency of our agents by not having as many live showings, and focusing our time on the more serious buyers.”

David Caveness
President and CEO, Carpenter Realtors