Real Estate Video Use Rises in 2009
Online real estate video host Wellcomehost released its first annual report on the use of video in real estate marketing.
Significantly, the company found that the use of video is up 95% in the first half of 2009 versus the first half of 2008.
Breakouts like Realtor Ian Watt (see Video Isn’t Just About Your Listings) set the bar for the creative use of video and also seemed to have kick-started a whole generation of car-mounted video blog posts.
But it’s not only the little guys getting in on the fun; big brands like Corcoran Group are embracing video too.
What I found particularly interesting in the report however, was the breakdown of the how real estate professionals are using video. Marketing listings comes in at the top of the list 30 per cent; showcasing local areas and professional introductions round out the top three but oddly, demonstrating market knowledge comes in dead last.
Seems to me, if done properly, market intelligence is the biggest opportunity to push video in a new interesting direction. Imagine an animated Common Craft style monthly video market report, for example…
Here’s a few more slides from the full report.
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14 Comment(s)
1 Trackback(s)
- From The Future of Real Estate Marketing: Internet Video « Sonoma Valley Real Estate Blog | Dec 9, 2009
Geordie Romer | Leavenworth WA | Nov 11, 2009 | Reply
I love the idea of doing a Common Craft style video to explain market trends or maybe add some spice to my quarterly market reports.
I looked at the provider pages and took a look at a handful of video producers. Most want contact info so they can sell you product, but
http://www.lilipip.com/pricing/
has upfront pricing. $6000 for a 1 minute video with a 6 week turnaround time. Assuming I only do 4 quarterly updates, that’s a huge expenditure for the average agent and even for many brokers.
I think we are more likely to see the Realtor as Spokesman or Newscaster type videos ( a la Ian Watt) unless something changes that allows cheaper production of animated videos.
Louis Cammarosano | Nov 11, 2009 | Reply
Thanks Joel
We are seeing our HomeGain Agent View members produce short introductory videos (nothing fancy-mostly done with flip cameras) for their profiles
Here is an example
scroll to bottom of profile
http://www.homegain.com/agents/deborahmiller-3806111
David Marine - Coldwell Banker | Nov 11, 2009 | Reply
We’ve seen Coldwell Banker agents jump on video in a big way, especially when we launched our YouTube channel in May. It’s become a way to differentiate your listings as well as showcase your expertise of a particular area.
With YouTube becoming the #2 search engine it’s going to see even more growth in the coming months and I think you’ll even see the consumer demand more than just slideshows set to music passing as a “video listing”
Chris - Calgary Homes for Sale | Nov 11, 2009 | Reply
The largest issue with using video to showcase knowledge (particularly in listing) is that it effectively accomplashes the opposite. Because the videos tend to be very low quality and the REALTORS tend to look very unprofessional and downright nervous. In theory it is great, in practice though it leaves much to be desired.
Chris Dowell | Nov 12, 2009 | Reply
Practice makes perfect. When I started video blogging my videos didn’t look good. Now after 6 months of practice I look more polished. I would suggest practicing a while before you start publishing. The practice will pay off.
Craig Mische | Nov 12, 2009 | Reply
Video has been particularly been affective for me when working with clients that live outside my area. If they are interested in a property but are having a tough time scheduling a visit or are wary about taking time as they believe most agents hide the negative aspects in their photos, I’ll shoot a video and will email them a private url to view it. If they end up scheduling time to look at it in person after viewing the video they usually end up making an offer.
Christian Sterner | Nov 12, 2009 | Reply
@Chris – Calgary…
Mr. Dowell said it: practice makes perfect. And perfect doesn’t mean that the agent(s) all of a sudden becomes TV/broadcast quality in front of the camera.
A great video becomes one when agents can genuinely imagine that the camera is a buyer or seller. The audience wants transparency and information, regardless of how polished the messenger is. Real people with real messages and real information – that’s video.
Anyone seeking reasons not to do video will likely find all they need straight through overly-critical peers. At the end of the day, video does more to portray “human scale” (ie..what would it be like to walk within that home, or on that street block) than any other medium. Those that nail it, are going to nail those that don’t in a listing presentation. This is not vendor speak. This is the reality of statistics and feedback spanning almost 4 years now.
Note: listing videos being used to win new listings should be professionally produced or just “damn good.”
@geordie
Your price quote seems extremely high. I think you’d be happily surprised if you post your project on our Project Board http://www.wellcomemat.com/productionboard/
It allows you to anonymously gather quotes from production teams, and you will get a video for market value. I haven’t checked the stats in a while, but we used to average 8 quotes per project on the board.
Geordie Romer | Leavenworth WA | Nov 12, 2009 | Reply
@christian
Thanks for the tip. Project has been posted. Hopefully they won’t be disuaded by the zipcode since it could be farmed out anywhere.
Dave Toledo | Nov 12, 2009 | Reply
An Observation of Pamela Liebman’s video on her tech team meeting the interactive challenges of the future.
I checked out their Senior Executive Team and quickly noticed that Terence Thomas’s title is Director of Information Technology. A big factor in a company successfully embarrassing technology starts with the Senior Executive Team and the respect they give to the person in charge of technology. Everyone seems to be a vice president except the most important position to the future of the company. If she really believes what she says, Terence Thomas should have the title of Chief Information Officer. And no, I’m not related to him!
Duncan | Nov 13, 2009 | Reply
I personally prefer watching real estate videos that aren’t too polished. Another tool to use to market listing as well as video could be Microsoft’s photosynth. I haven’t personally used it yet but will definitely be giving it a try soon.
Heatehr Rae Hatton | Nov 13, 2009 | Reply
I have been uploading videos of office space for rent in Manhattan since 2007. I only use my videos for internal clients even though I do have them on youtube. The majority of them are privatized. I haven’t really marketed myself via the videos. At this point I have a very comprehensive library of NYC office space. How can I promote myself with the videos? How do you market video?
Any suggestions welcome.
heatherh@kaufmanorganization.com
http://www.youtube.com/kaufmanorganization
houses for sale tn | Nov 16, 2009 | Reply
This is true. Most people prefer to watch and listen than reading. This is also a way to communicate in a more real environment and when you watch a video it seems like you are talking/making conversations personally. This is good to real state industry in advertising your business purposes and offers in the mass.
Mike | Nov 20, 2009 | Reply
We just started uploading videos and using youtube. I think in future there will be a must for every listing.
Steve | Nov 27, 2009 | Reply
I think videos are nice but there are too many issues, which format, how to stream them, making sure viewers/potential clients have the correct plug-ins to view the videos, etc. You can use youtube, like Mike said, but it doesn’t look professional. So, there is possibly a niche market in standardizing online video and making it readily available.
In the meantime, photos seem to be the easiest way to go, since the file formats have been relatively standardized (JPEG) and you can get some pretty stunning shots with photos (http://www.photopilot.com/blog/index.php/2009/10/26/u2-me2).
Might also be a good middle-ground to use animated GIFs or JPEGs, since they will show multiple pictures and the format is readily accessible from most computers. Seems like a good compromise.
Just my 2 cents. Cheers, Steve