SAINT-HUBERT, Quebec, Oct. 23, 2023 (GLOBE NEWSWIRE) -- Urbanimmersive Inc. (“Urbanimmersive,” “the Company,” or “UI”) (TSX VENTURE: UI) (OTCQB: UBMRF), a leading provider of 3D digital twin solutions for the real estate marketing industry, is pleased to announce that Unreserved, a tech-powered real estate brokerage Canadian agency, has selected Urbanimmersive's 3D VF as its sole provider of 3D Digital Twins and 2D floor plans. This decision is set to be followed by the acquisition of 360 cameras that will be distributed among the brokerage’s agent offices, enabling real estate agents to record 360 videos on the go.

Unreserved is the first real estate brokerage agency to select Urbanimmersive's 3D VF, marking an important milestone for Urbanimmersive's latest innovation. The swift decision to adopt it as the sole solution underscores 3D VF's market potential and adoption strength. Since its inception, Unreserved has heavily utilized 3D digital twins, having previously used a competing renowned brand. Unreserved's management explains that the integration of 360 videos is what they believe was missing in 3D digital twins for marketing to deliver a more engaging and branded 3D content experience, making the decision evident.

"It is natural for real estate agents to describe a home and showcase all its unique features and particularities. Therefore, 3D VF is a new content video solution that is naturally easy to produce and leverages agents' expertise and brand. It enables them to present properties in a manner that resonates with a digital-savvy clientele while providing a 3D digital twin and a 2D floor plan simultaneously. We also appreciate that 3D VF does not require the use of an app, expensive hardware, or sophisticated training, allowing us to quickly roll out the solution within our network of members. Agents can produce a perfect 3D VF on their first try!" explains Rachel Langlois, Vice-President Sales at Unreserved.

Urbanimmersive will generate revenues from the processing fees of 3D VFs created by the brokerage agency’s agents. Additionally, Urbanimmersive's photography services division will extend 360 videos service assistance, offering a complete solution for agents in need of turn-key 360 videos and photo services.

"We expect that other real estate brokerage brands and agents will quickly adopt 3D VF, as it addresses the primary challenges associated with 3D digital twins. These include the considerable cost of creating these immersive 3D models, their inability to establish an emotional connection with viewers compared to other media like videos, and, fundamentally, the focus of 3D digital twins on showcasing properties for sale rather than aiding agents in presenting themselves to secure more listings," stated Ghislain Lemire, CEO of Urbanimmersive.

The U.S. real estate brokerage industry is robust and diverse, boasting over 86,000 real estate brokerage firms, as per public data available until 2022. These firms operate under an array of over 100 major franchise brands, creating a competitive and dynamic marketplace. With the inclusion of independent brands, the industry becomes even more eclectic, providing a vast terrain of opportunities and challenges alike. Brokerages are continually seeking innovative solutions to stand out and effectively meet the evolving needs of the property market and the expectations of an increasingly digital-savvy clientele.

TSX Venture Exchange has not reviewed this press release and has neither approved nor disapproved the contents of this press release.

About Unreserved

Unreserved is a privately-owned, tech-powered real estate brokerage founded in 2021 in Ottawa, Canada. Unreserved offers full-service listings across Ontario at a 0.5% commission, a competitive rate that underscores its commitment to value. The brokerage integrates advanced real estate technology and insightful market data, ensuring an efficient and informed client experience in every transaction.

About Urbanimmersive

Urbanimmersive develops and commercializes real estate photography technologies and services focused on redefining industry visual content standards. The Company all-in-one platform enables high-volume photography businesses to increase operational productivity delivering feature-rich 3D tours and floor plans, leading-edge property websites and high-resolution AI-indexed images. The Company operating segments include software (SaaS), 3D photography equipment and, in a growing number of North American cities, technology-powered real estate photography service business units leading the industry photo-shoots standards transformation. Learn more at urbanimmersive.com.

Caution of Forward-Looking Statements

Certain statements in this news release, other than statements of historical fact, are forward-looking information that involves various risks and uncertainties. Such statements relating to, among other things, the prospects for the company to enhance operating results, are necessarily subject to risks and uncertainties, some of which are significant in scope and nature. These uncertainties may cause actual results to differ from information contained herein. There can be no assurance that such statements will prove to be accurate. Actual results and future events could differ materially from those anticipated in such statements. These and all subsequent written and oral forward-looking statements are based on the estimates and opinions of the management on the dates they are made and expressly qualified in their entirety by this notice. The Company assumes no obligation to update forward-looking statements should circumstances or management estimates or opinions change.

For more information, please contact:

Ghislain Lemire
President & CEO
ghislainlemire@urbanimmersive.com

Simon Bédard, CA, CPA, CFA, MBA
Chief Financial Officer
simonbedard@urbanimmersive.com