GeoCV

2D images don’t do justice to 3D spaces. In particular, when you’re searching for a home. GeoCV produces Virtual Open House™ - true 3D+360 virtual tour for real estate.

By exploring a realistic 3D scan potential buyers and tenants can easily understand the layout and get a general sense of the space. They can walk through the space as they are actually there, very smoothly, without jumps between the rooms as in classic 360 virtual tours. A floor plan with accurate dimensions is extracted from the 3D scan. And photos are extracted from 360 panoramas.

And the best thing. We’re the only company in the world that uses a smartphone with a 3D camera for capturing. We don’t need expensive proprietary hardware, and the secret sauce is in our software. We’re hardware agnostic, so when iPhone 11 appears with an embedded long range 3D camera, we gonna use it. The solution it’s so easy to use that agents can do it.

In the US alone there are 10 million homes for sale and rent every year. Agents are okay paying at least $250 for visual marketing materials. Our goal is to become a standard for at least major metro areas, which results in a billion dollar opportunity. Global market, hospitality and commercial real estate add up to it.

3D tours have already been proven to be useful. The data from National Association of Realtors show that 82% of home buyers find 3D tours useful. And companies like Redfin and Apartments.com report that 3D tours help agents to differentiate themselves to win more listings, and differentiate their listings to sell faster, while saving time on unpromising showings.

But still only a few percent of listing have 3D tours. To capture the largest market share we have a two-fold business model. First, we provide a turnkey one-stop shop service to agents and brokerages. It’s a package of 3D tour, photos and floor plan. And it’s priced competitive to just photos and floor plans. To make the service profitable we build a network of freelance photographers. Second, our Do-It-Yourself solution is suited for DIY agents, professional photographers, and large companies like Airbnb which we successfully piloted with.