ID Plans Uses Matterport Digital Twins to Advance Commercial Property Management and Leasing

Marketing, modifying, and maintaining real estate is a lot more complicated for commercial properties than for apartments and houses. Prospective tenants need to know if a space can be configured for a restaurant, a retail store, an office, or whatever their business requires. Property owners need to know how quickly they can get a place ready for a new tenant. Construction projects tend to take longer, they’re more expensive, and they have more moving parts. 

ID Plans has been solving these problems for more than 23 years. It’s a commercial real estate software and services company that prides itself on serving some of the largest real estate investment trusts in the United States in addition to small and medium-size property owners. 

“Trying to find somebody who is interested in leasing a space takes a lot of work,” says Jordan Hearin, CPO, ID Plans. “Once you find someone, you have to order the lease, draw sketches, and write up complicated plans. It takes weeks and often times longer, and it kills an incredible number of deals. ID Plans fills in these gaps with beautiful and efficient solutions.” 

Its services include detailed space plans and lease outline drawings, remote property management tools, aerial drone photography, and 3D virtual property tours.

Better virtual tours with Matterport, Inc.

ID 360 is a complete package that includes all the information needed to execute a commercial real estate lease, and it includes 3D virtual property tours. 

“It was clear early on that Matterport is the best technology to produce digital twins and fully immersive 3D virtual tours,” Hearin says. “In evaluating the best technology, we went through a series of complicated projects and unique scenarios, and Matterport did a fantastic job.”

ID Plans uses Matterport Pro2 3D cameras and Leica BLK360 cameras to capture properties in 3D at 4k resolution to combine both the visual and spatial data into digital twins that include accurate measurements. The digital twins are the basis for the company’s virtual tours that anyone can navigate and inspect remotely using any device with an internet connection. 

“The Matterport Pro2 3D camera is perfect for most spaces, and we love the Leica BLK360 for larger commercial areas like industrial warehouses,” Hearin says. “We often get the best results when we use both cameras, depending on which part of a property we’re capturing. We’re able to give our customers and industry professionals all the information they need, including the ability to virtually walk through a space as if they were there, with no limits on the possible use cases. Matterport virtual tours are just beautiful.”

Enhancing digital twins with value-adding features

Allowing prospective tenants to virtually tour a commercial space is only the beginning. ID Plans uses Mattertags to embed additional information about the assets it captures, such as HVAC units, service panels, and electrical meters. Information is embedded in the digital twin and can be accessed with a click of a button by any person who needs it: landlords, prospective tenants, property managers, construction managers, architects, insurance adjusters, and property inspectors.

ID Plans also enhances its virtual tours by integrating features from Matterport Platform Partner, MPskin, such as custom icons for Mattertags, photo carousels, and white-labeled URLs. “We wanted to make ID 360 the best it can be for our customers, and the MPskin module plugs into our solution seamlessly to add features that help us enhance the experience for marketing properties,” says Hearin.

Property marketing efficiencies and more closed deals

The digital twins are key to enabling the marketing of featured properties on a remote basis.

Digital twins are mission-critical tools that allow us to market a property remotely, interacting online with confidence that the measurements captured are accurate,” Hearin says.

ID 360 delivers direct cost savings for customers. “Compared to having to pay a photographer and videographer, potentially another vendor for a virtual tour, and an architect for all the plans can get expensive. ID 360 has all of those features with a lower cost,” says Hearin. 

For ID Plans’ clients, properties no longer sit on the market.

We’ve dramatically accelerated the sales and lease processes, by factors of weeks,” Hearin says. “There used to be long time delays, long enough to kill deals. And we have customers who say they’ve won deals that they would have lost without Matterport and the ID 360 product. It allows these companies to compete, to get more information, to get a higher deal velocity, and more exposure.”

Accelerating construction and design

ID Plans deploys field engineers and data specialists to hundreds of properties each month. They use the measurements in ID 360 to create various artifacts that external teams can use. When architects look at ID 360 as they’re going through their QA and sketching processes, for instance, the Matterport technology gives them more context and the ability to validate measurements and develop a more complete picture. 

From data capture to final product, using the Matterport platform helps the team turn around ID 360 projects more quickly. “Particularly for larger spaces, using Matterport gives ID Plans time savings upward of 20 to 30 percent,” Hearin says.

Streamlining ongoing operations and bolstering insurance records

There are benefits on the operations side too. After a lease is signed, property owners need to get the tenant into the space, and there’s a lot of planning, construction, and coordination involved. ID 360 and Matterport help owners get accurate bids and help contractors efficiently plan construction projects and get the right measurements and the right tools. Projects are completed more quickly and at a higher quality with less need for expensive rework. “Having real information and vivid imagery that’s up to date and interactive is priceless,” Hearin says.

Powering growth

ID Plans ispleased to see the rapidly increasing popularity of ID 360, with month-over-month product sales growth rates over 20%. “Since adopting Matterport in late 2021,” Hearin says, “we’ve been growing every single month, doing more, solving more problems, obsessing over our customers, and adding as much value as possible.”

©2022 Matterport, Inc. All rights reserved. Matterport is a registered trademark and the Matterport logo is a trademark of Matterport, Inc. All other marks are the property of their respective owners.

ABOUT ID PLANS

ID Plans creates software for the commercial real estate industry using visual and spatial data to help its clients efficiently market and manage properties remotely. Its signature product, ID 360, uses digital twins for virtual property tours and to aggregate all relevant planning, construction, management, and insurance information about a property in one place. For 23 years the company has built an organization on a core philosophy of Centralization, Collaboration, and Visualization.

http://www.idplans.com

HEADQUARTERSTampa, Florida, United States

INDUSTRY Commercial real estate and technology

CHALLENGEEnable commercial real estate clients to market and manage properties remotely

PRODUCTS Matterport Pro2 3D camerasLeica BLK360 cameras

SOLUTIONID Plans uses Matterport digital twins and data insights to provide enhanced virtual property tours and accelerate planning, construction, and insurance claims processes 

Results

• Accelerates sales and lease processes by weeks

• More efficient property marketing with detailed imagery and plans at lower costs

• Streamlines design and construction planning, with up to 30% time savings

• Remote property management capabilities