In June, Compass began displaying luxury listings through virtual reality. For example, a three-minute video for a $20 million listing in Kona, Hawaii, immerses potential buyers, who may be too busy to visit in person. “We expect this technology to continue to play an important role in luxury listing marketing in 2023 and beyond,” a Compass spokesperson said, adding that the company is looking for ways to optimize marketing and advertising dollars.

Online real estate company Opendoor is also getting into virtual reality as it tries to maximize its marketing spend with new types of media, according to David Corns, who joined as vice president of marketing last year. In the coming months, Opendoor plans to test new out-of-home activations along with national and local media buys, he said….