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Demand Grows for 3D Tours of SFR Properties

The number of 3D virtual tours for single-family rental (SFR) properties nationwide rose by 270% from 2020 to 2021, according to the latest data from PlanOmatic. The company also reported a rise in the number of SFR homes it photographed by 187% during the same period of 2020 to 2021.

Regionally, the most in-demand markets for 3D virtual tours were Charlotte, North Carolina; Dallas, Texas; Orlando, Florida; and Tampa, Florida.

“Essentially all home searches start online today, and this has fundamentally changed the way SFR properties are marketed,” said Kori Covrigaru, Co-Founder and CEO of PlanOmatic. “Our clients are trying to get as much property information in front of the consumer as possible, and a 3D tour stands out online allowing future residents to walk through the house imagining themselves there without visiting it in-person. We anticipate an even greater adoption of 3D tours in 2022 as SFR owners and investors look to optimize operational efficiencies and lease their properties faster.”

As reported by PlanOMatic, the most in-demand markets for virtual tours and photography services in 2021 included:

Charlotte, North Carolina

  • 3D tours: 1,571% increase from 2020 to 2021
  • Photography: 253% increase from 2020 to 2021

Dallas, Texas

  • 3D tours: 608% increase from 2020 to 2021
  • Photography: 234% from 2020 to 2021

Orlando, Florida

  • 3D tours: 139% increase from 2020 to 2021
  • Photography: 180% from 2020 to 2021

Tampa, Florida

  • 3D tours: 77% increase from 2020 to 2021
  • Photography: 171% increase from 2020 to 2021

“We conducted a study last year that measured the impact of 3D tours on SFR property marketing on the Zillow Rentals platform, which includes Zillow, Trulia, and Hotpads,” said Covrigaru. “The 3D tour study was conducted in partnership with a national provider of well-maintained SFR homes and revealed that SFR property leads increased by 40%, and days on the market decreased by 30%, when a 3D tour was published on the Zillow Rentals platform.”

About Author: Eric C. Peck

Eric C. Peck has 20-plus years’ experience covering the mortgage industry, he most recently served as Editor-in-Chief for The Mortgage Press and National Mortgage Professional Magazine. Peck graduated from the New York Institute of Technology where he received his B.A. in Communication Arts/Media. After graduating, he began his professional career with Videography Magazine before landing in the mortgage space. Peck has edited three published books and has served as Copy Editor for Entrepreneur.com.

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