Is video the next big thing for marketing real estate?
Published by James Dwiggins under Technology.Is print finally dead?
For some time now, I have been amazed at how fast video has grown on the Internet. Just about every major website uses video more and more to get information out to the public, faster and more interactively. What has also amazed me is how slow real estate has picked up on using video as a marketing tool for both getting the listing and attracting potential buyers.
I did some research last week about what it would cost to video a home for a “potential seller” and the average cost came out to $250. I’ve been in this business for a long time and know that most realtors might think that’s too expensive and would pass it over. However, I also know that over 90% of sellers select their agent over others when video marketing is offered. Well, let’s put it this way… 90% of Generations X & Y would; a growing demographic who are now over 50% of your customers. You see, with video rapidly becoming the most common thing Internet users are looking for, these generations know that the Internet is the most powerful tool to sell their home. Think about it. If you visit MSNBC, CNN, or FoxNews, video is pretty much all they promote on their websites anymore. They wouldn’t be doing this if it weren’t the direction consumers are moving on the Internet.
So my question to all of you is would you spend $250 on a listing if you could beat out your competition even 50% of the time? Or better yet, what’s stopping us from moving toward video as a marketing tool?
James Dwiggins
Chief Strategy Officer
James.Dwiggins@rwnc.net
I agree whole-heartedly, James. I’ve seen it coming for a while and our office has a YouTube channel, even if we don’t use it yet.
I am excited to put new technology to work in my business. The options can be overwhelming but worth the time, effort and money put forth. It is driving the market and will take over as buyers learn how to shop via their own computers at home or work. I came on board after a fabulous training class in Sacramento earlier this year. There is so much help out there from corporate.This company is doing most of the work for us and we can invest our time in finding the clients, knowing the marketing systems are in place online and help is always available to the agent who is navigating their way through new technology.
I didn’t realize it was an option to spend $250 to have a video done. Does one just hire a local photographer?
Buyers LOVE video.
Sellers LOVE video.
The only group that primarily doesn’t ‘get video’ are Realtors.
Talk to almost any company in the country who provides video tours to the real estate industry and you will hear the same response – dead silence. The response from most Realtors is absolute, dead silence.
I guess it stands to reason when in most markets, less than 20% of all listings have a virtual tour of ANY kind, and the vast majority are just these ridiculous zooming slideshow tours featuring exactly the same information as the MLS photos that were just viewed.
Most Realtors just plain don’t get it. I’ve done very little marketing for my video business – my little slice of smart Realtors find me – but the very few times I HAVE marketed directly to Realtors – it may as well never happened. And we’re talking GIVING AWAY a free, narrated video tour AND free photography! I have “given away” 22 of these packages in 4 years – and I have had only ONE Realtor redeeem this offer. One.
Free. No strings attached. There wasn’t even a deadline for the offer… it’s still out there!
ONE.
That says it all.