Australian proptech OpenLot launches market-first Digital Twin that saves home buyers time and money

Australian proptech company OpenLot have announced the launch of its latest technology, OpenDisplay, a market-first Digital Twin display village that promises to save home buyers hundreds of hours. Unlike Virtual Reality (VR) or Augmented Reality (AR) technologies, which create or render 3D images or videos of a future home, a Digital Twin is a 100% true representation of a project that has already been built. OpenDisplay uses the latest Matterport Light Detection and Ranging (LiDAR) technology, capturing super-detailed 3D models of display homes and entire display villages, just as one would see them in person. This technology helps buyers get to their homes much faster by minimising the need to visit sites, saving on commuting costs and reducing the risk of bank approvals expiring.

Traditional home buying can be time-consuming and stressful, especially for first-time buyers. “Finding the right home and land can take an average buyer up to 2 years,” said OpenLot’s CEO, Qi Chen, who founded the property platform from frustration with the traditional home buying process. “This will improve the efficiency of the already-shortened process that OpenLot currently provides from 6 months to 3 months by 100%.”

“Our customers prefer to research and explore online before they settle on a floor plan or a house-and-land package,” says Shaun Patterson, Chief of Sales and Marketing at Simonds Homes. “OpenDisplay provides a unique tool for customers to discover our homes virtually before they visit us in person.”

OpenDisplay is developer- and builder-agnostic and now showcases over 800 unique display homes from over 50 display villages across Victoria and Western Australia. Stockland, Metricon, and Dennis Family Corporation are among the 50-plus developers and builders on OpenLot’s platform who have swiftly embraced this technology, with plans to go national later this year.