Toronto-based startup NTRY has launched what its founders call a first-of-its-kind 3D real estate visualization tool to showcase, market and sell properties online. The platform is now available for Toronto-area pre-construction properties and will roll out more extensively this summer.
NTRY’s creators believe brokers, agents, developers and buyers will find value in the interactive, cloud-based program accessible on any device because more and more purchases and leasing deals are happening in an online environment. What was a necessity during the height of the pandemic is now a process that seems to be here to stay.
NTRY founding partner and director James Borst is also the co-founder and chief executive officer of NTRY’s parent company, 3D CityScapes. That firm creates immersive interactive visualization platforms designed for developers, urban planners, cities and authorities.
It was a logical next step to partner with people with real estate backgrounds. NTRY was founded by Borst, PACE Developments managing director and P2 Realty founder and CEO Pamela Ventresca, and PACE sales director and P2 realtor Julian Pucci.
Ventresca is senior vice-president of operations and Pucci is sales and marketing VP.
It has taken a year-and-a-half for NTRY to reach this point and, combined with 3D CityScapes, it now employs about 30 people.
The firm has also brought in a well-known face in the industry, Jason Garland, as NTRY’s senior VP of business development. Garland is the owner and CEO of JAG Designs, a Royal LePage real estate specialist and Berkshire Hathaway HomeServices Toronto Realty partner and VP of new home sales.
What NTRY does
NTRY can provide up-to-date information on any property in its database via files which are provided from developers. It’s then modelled using a gaming software engine by a team of full stack developers at NTRY who create life-like 3D visual presentations.
Developers can customize packages that best fit their needs to highlight specific features related to the projects and place them within their physical environments to give users a glimpse of the area.
The platform is accessed through a website login.
“The consumer is going to be able to have a lot of information that is typically hard to find at their fingertips for pre-construction,” Ventresca told RENX. “We are looking to build-in that visualization tool, which absolutely does not exist yet, and make it a logistical tool for them to eventually be able to speak to an agent, speak to staff and really have all the information at their fingertips so they can make an educated decision prior to purchasing.”
Users anywhere in the world can look at a cityscape and its various developments and click on a building that interests them. They can then view floor plans, design packages, pricing and other details while taking a virtual tour of the building and individual suites.
“That information is typically very segregated,” Garland told RENX. “You’ve got to call various sales offices and you have to speak to various sales agents to see who has access to what information.
“It’s very fragmented. There’s no central system. So that’s where we are trying to fill those gaps for the consumer.”
Developers are signing on
Developers pay to have their buildings modelled and NTRY sells licenses to real estate agents so they can access the platform and show properties to their clients.
NTRY is initially focused on pre-construction condos and single-family homes. Mizrahi Developments, Tridel, Broccolini, Oxford Properties, Rockport Group, Arista Homes and PACE have signed on as early NTRY adopters.
Garland said developers can also use NTRY’s technology for modelling older buildings in their portfolios if they have the proper files. This capability would be especially useful if an owner or manager is looking to sell the property, make comparisons with other buildings, or simply showcase what they’ve done in the past.
There are also plans to enter the residential resale marketplace as well as commercial real estate, because the technology is easily adaptable and transferable. Garland said NTRY has commercial development clients, but said it is too early to reveal any further details.
NTRY is initially providing its services in the Greater Toronto Area because the company is headquartered in North York, and Toronto currently offers the biggest pre-construction condominium market in the world. It also has more construction cranes across the metro area than any other city in North America.
Toronto has also become a global technology hub, which Garland said is helping NTRY recruit highly skilled employees as it continues to grow.
There are future plans for NTRY to move into New York City, Miami and Washington, D.C. after it gets firmly established in Toronto.