By Riley Kaminer
Are you in the market for a new condo? If so, get ready to say goodbye to pamphlets, PDFs, and printouts. One Miami company is bringing the high-end real estate game into the 21st century by building immersive virtual experiences for real estate buyers.
Meet YUPIX, co-founded by brothers Patricio and Gonzalo Navarro alongside Alvaro Alesso. Founded a year and a half ago, the company has developed a platform that lets prospective buyers interact with meta-reality simulations of some of Miami’s flashiest properties.
The startup has already made a splash in the local market by partnering with nationwide developer Property Markets Group to help market their E11EVEN Hotel & Residences. Data from YUPIX’s meta-reality tours have shown a sales conversion rate above 90 percent for these multi-million dollar residences. Over five months, YUPIX’s virtual tours led to $700 million generated in sales for E11EVEN, which is now fully sold out.
Users enter what YUPIX calls an ‘arena’ to experience their virtual environments. “It’s a journey into the future,” Alesso told Refresh Miami. The experience is highly curated, with staff members walking prospective buyers through the property as if it were real. There are currently three arenas in Miami.
By showing the units in these arenas, YUPIX and the developer can take in a large amount of feedback in real time. That stands in stark contrast to the black-box nature of a pamphlet – a much more one-sided transaction. “The more users that go through it, the better we get,” said Alesso, noting that this feedback is also useful for developing the platform itself.
“The problem in real estate is how can we experience a condo that is going to be built in three years’ time,” explained Alesso. He noted the painstaking process the YUPIX team goes through to ensure that every last detail is as accurate as possible.
This focus on detail paid off massively for Property Markets Group. While creating a digital version of the residence, the YUPIX team noticed a design flaw. The early detection of this problem ended up saving the developer several million dollars, according to YUPIX.
“Having this level of detail at an early stage is invaluable,” asserted Patricio Navarro. “You are able to fine tune the quality of the product to a level that was not possible before.”
Navarro has been in the real estate space for 30 years, including working on the first computer graphics system for architects. He has been based in Miami for the better part of two decades. “This is the end of a very long road for Alvaro, Gonzalo, and me,” said Navarro, who described this project as a culmination of their previous endeavors – without which founding YUPIX would have been impossible.
Once they got started, the team was able to put YUPIX together quickly. Within four months, they were already operational and had signed clients within six months. Their growth trajectory hasn’t slowed down since – they have over 50 employees and have eight to nine positions open at any given time.
“Miami is one of the most important cities in meta-reality,” noted Navarro. “It has a very promising future.”
“When we first started the company, the Miami tech movement wasn’t as strong as it is now,” added Alesso. “This growth was not something that we were planning for, but it has been really nice.”’
All photos from YUPIX. Photo at top of post shows YUPIX co-founders, L to R: Alvaro Alesso, COO; Patricio Navarro, CEO; Gonzalo Navarro, CCO.
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