#CommerceMonth: Property in360

in360 is a production house that puts together videos that allow for a 360 degree view around a house - imagine Youtube meets Google Maps. Still a hard concept to grasp? Take a look at the video below - just click and drag. It also works while on pause.

What sparked the idea - is this an international trend brought to South African shores?

The idea was sparked by seeing the underlying value with the 360 degree videos capabilities. The internet is such a large part of sales, it makes sense to be ahead of the curve with regards to showcasing your product optimally online. We’ve had a look at international trends and we are happy to say we are ahead of the curve.

Is the technology used to create these 360 experiences very technical, who's the brains behind it all?

The technology has actually been around for years, it is just becoming more prevalent on the internet with regards to the upgraded ability to view the videos correctly. Google and Facebook have really started pushing 360 videos, with YouTube even having its own 360 degree channel. So you can boost the post on Facebook, YouTube and embed it onto your property website. Now you can even look at the roof and floor instead of just doing a 180 degree tour.

What has been the response from the property sector so far?

Human nature tends to dictate that people shy away from what they don’t know. In an industry so large, agents tend to be comfortable with what they have. We understand, but in saying that, a new video format where viewers are completely immersed into the listing is something that we know brings huge value to the real estate sector in South Africa. So clients with a focus on the international sector have been the most responsive.

Jay Clark

Who is the target market when using the in360 platform, and what has been the response from this market?

The target market is anyone wanting to sell property that believes a professional sales proposal via the internet can lead to increased and quicker sales. We aim to reduce real estate agents' workload by providing the ability to tour a listing to anyone around the world with an internet connection - essentially equating to less show days and a more informed potential buyer. Agents with a focus on high net worth offshore clients enquiring into high-end real estate are our most responsive market. As a property sector, we are in competition with the world, so it’s good to use the technology at our disposal.

Our vision is that this will become industry standard to all real estate being sold with an online profile, which is all of them.

What are the advantages of using this technology for buyers and sellers?

Buyers are able to view real estate from anywhere, on their desktop, laptop, tablet or smart phone. With the tablet and phone viewing particularly enjoyable as it uses the devices accelerometer to provide the immersive effect.

Will you be extending this technology to other industries?

The use of 360 degree videos are applicable to all industries. We are currently branching out into the architecture and hotel industries. Brands are very interested in the technology for activations and YouTube clips, as it is industry knowledge that videos gain more traction than stills.

What does a 3-4 minute in360 video cost on average?

A single video is R2000. That includes filming, editing, grading and uploading. We do offer our clients packages for 10 and 20 videos that reduces the price per video, which when you have 30 houses on your books, is a bargain... everyone loves a bargain.

How do you see in360 transforming the way commerce in the property market works?

Your high net worth individuals both locally and internationally have less time on their hands to shop around. Their days are spent and thus when considering buying a property for luxury or as part of their property portfolio, doing so in the comfort of their own homes through an immersive channel is immensely valuable. A perfect example of this happening is the online clothing industry that has already boomed internationally and picking up steam locally as well. All medium to high net worth. The added benefit is that real estate agents can do less work and increase their conversion rate.

For more info, go to www.in360.co.za.