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Technology boosts Wilmington real estate market

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Like other real estate markets around the country, Wilmington’s is being impacted by new technology, the new president of the Wilmington Regional Association of Realtors (WRAR) said this week.

Don Harris, who was chosen as association president in late January, said one of the biggest developments for local real estate sales professionals is the upcoming launch of a regional multiple listing service that will expand the reach of home listings available to local agents. The MLS is a comprehensive real estate information service that brokers and agents use to appraise market listings.

WRAR will be among 10 regional MLS systems to join together to expand the reach of regional real estate listings to most of eastern North Carolina. Other regions to take part include Brunswick County, Topsail Island, Carteret Count and the Neuse River region.

“With the new MLS we’re combining forces,” Harris said. “Agents from 10 associations will be able to better publicize those listings and help buyers find listings throughout a larger geographical area.”

Harris said the regional MLS will better enable local agents to service real estate buyers on mobile devices, where most real estate listing data is migrating. Harris, an agent with Intracoastal Realty, said most firms are using apps, websites, social media and other mobile-accessible online data to reach potential homeowners.

“We’re realizing all of our customers are on iPads, smartphones and other mobile devices,” Harris said.

In another local real estate technology development, curious home buyers can now take tours of Wilmington-area homes through virtual reality as a local marketing firm is now bringing the three-dimensional video technology to the local real estate market. Local digital marketers SISDigital is offering the new video technology for real estate, which is widely becoming more standard in the industry.

“We are the first to bring virtual reality real estate to Wilmington,” said Ty Downing, CEO of SISDigital.

New technology and listing policies from Google help support the virtual tours, which allow viewers to rotate the structure and their position on its axis while viewing a home. The video can be viewed online, or in some cases, through special devices or glasses to help with smartphone viewing.

“It’s a 24-hour open house,” Downing said. “It offers a virtual view with detail of the inside of a home.”

The firm is using Matterport virtual reality technology to shoot the video, which Downing said was becoming the real estate industry standard.

“It’s an even more immersive experience,” Downing said. “This is like putting on a cape and flying into the house. It’s just incredible.”

The procedure to film a house takes about one and one-half hours. The specialty camera is operated from an iPad and does a 360-degree capture of a 6-foot swath of the house.

“In some spots, you have to hide from the camera,” Downing said. “It maps out the entire home with 99 percent accuracy. It’s like you’re in your home.”

Companies that have signed on include Blue Coast, Compass Point and Logan Homes. They’re also talking with one of the largest commercial real estate developers in the region. Even a for-sale by owner can use the technology, Downing said.

“A lot of homeowners are deciding that if you don’t use Matterport, they won’t list with you,” Downing said. “They don’t want slide shows. They’re not virtual tours.”

SIS is headquartered in tekMountain, where they help mentor and market other startups, Downing said. The company is also looking into using the technology through sports and is in talks with a pro basketball team in California about providing virtual reality content to its operation.

Harris said local Realtors are also adopting other common real estate listing trends, like using drones or interior webcams to give potential buyers unique views of the property. However, in the end, Harris said only a local real estate agent can offer a true perspective on the value and appeal of a property.

“Photographers are taught to make the photos look as nice as possible, but buyers always have to go inside a house and see if it works for them. It’s an integral part of the transaction,” Harris said. “The only thing not going onto the Internet is the local knowledge of each individual Realtor in our association.”

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