Industry Relations

CoStar Acquires Matterport: The Photography Wars

Apr 24, 2024

Rob and Greg discuss CoStar's acquisition of Matterport, Zillow's response, and industry giants' reactions. They delve into raising the industry standards and the importance of buyer rep agreements. The podcast also touches on Damian Eales' plans for Realtor.com and upcoming industry trends.

42:29

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Quick takeaways

CoStar's acquisition of Matterport reflects industry foresight in reshaping real estate landscape through strategic acquisitions.

Competition intensifies between CoStar and Zillow in tech innovation, highlighting the significance of advanced technology adoption and acquisitions.

Deep dives

Co-Star Acquires Matterport in Response to Industry Predictions

Co-Star recently finalized the acquisition of Matterport for approximately 1.6 billion dollars, aligning with earlier industry discussions where predictions pointed towards strategic acquisitions that could reshape the real estate landscape. The acquisition stemmed from a collective industry dialogue, including insights into potential monumental moves that could be game changers. The acquisition of Matterport by Co-Star reflects a proactive response to industry insights and signals a forward-thinking approach to technology integration and innovation.

Introduction

2min

Media Content Experiences and Industry Acquisitions

3min

Analysis of CoStar's Acquisition of Matterport and the Photography Wars

2min

Competition and Acquisitions in Real Estate Photography Industry

12min

Buyer Agency in Real Estate Industry

20min

Event Plans and Subscriber Update Discussion

2min

How will CoStar’s recent buyout of Matterport affect the industry? In this episode Rob and Greg dive into the recent acquisition of Matterport by CoStar and how Rob and Greg predicted this years ago. How will Zillow respond? And how will other industry giants such as Redfin be affected by this huge announcement?

They also talk about Realtor.com's CEO, Damian Eales, and his plans to expand the portal's offerings. But beyond the competition between these portals lies an important conversation about raising the bar in the industry and eliminating low-quality agents for the betterment of consumers.

And what’s the next battleground in real estate? Buyer rep agreements will be crucial to differentiate between the showdown with good agents and bad agents.

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This podcast is produced by Two Brothers Creative 2024.