The Video Gauntlet is Dropped
WellcomeMat, the online video host, laid out an ultimatum this week – effectively banning video slide shows from being hosted on their site.
Their rationale? According to the site, “slide shows and video are not the same things, regardless of the fact that slide shows can be exported/saved into a video format. They are not video…period.”
It’s a bold statement. And one that may rustle some feathers with some of the virtual tour providers out there.
But, underneath the hyperbole, I think the real takeaway here is that the conversation around the use of video in real estate needs to move beyond simply showcasing listings (see Video Isn’t Just About Your Listings).
Thanks to video evangelists like Jeff Turner and Mike Price (whose talk at REBarCamp NYC on Video, Video and More Video! opened more than a few eyes) real estate professionals around the country are seizing on the idea that there are many different ways to integrate video into their businesses (see 72 Hours to Sell a Home).
In that vein, Ian Watt, the Vancouver-based Realtor profiled in that earlier post, has created a a contest on Strutta.com to help showcase some of these different approaches to video. I think it’s well worth highlighting some of the entries he’s received to date.
Dale Chumbley has gone all out and created a very creative introduction to his service area.
Mike Lefebvre takes a slightly different tack and creates a slightly more ‘traditional’ video advertisement.
The bottom line here is that, semantics aside, slideshow or no, video is an increasingly important tool to add to your marketing mix. Previous barriers to entry like cost and complexity diminish daily it seems and the really exciting thing is that there really still is no “right way to do video.” (Though there are definitely some basic principles you want to keep in mind, see All Aboard the Brandwagon).
Like Ian, Dale and Mike have shown, what’s most important is to engage, experiment and evaluate the medium and more importantly, keep trying new things.
And if you want to enter Ian’s contest, there’s still two weeks left in the contest if you want to try your hand at a submission.
For a good example of how a brokerage is using video, check out New York based Halstead Properties who launched their ProperTV channel on their website late last year.
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James Dwiggins | Feb 26, 2009 | Reply
I couldn’t agree more with the guys from WellcomeMat. Video is not a virtual tour or slideshow, and nothing will showcase a home better to a buyer then a 2 minute walk through of the home. In fact we believe in this so much, we are launching a video division at our company where we will provide video services to all our agents on contingency. They pay for the video on their listing when it sells. We are hoping to get at least 50% of our listing inventory on video by years end which would means thousands of properties. I only hope the rest of the industry will follow. It will only create a stronger value proposition for agents.
Overland Park Real Estate | Feb 27, 2009 | Reply
Agreed. A slide show is a slide show, there is nothing wrong with that but that is what it is.
I show sellers and example of my Video Virtual Tours on my listing presentations and make sure they know the distinction.
A lesson I learned when early last year I lost a listing I was competing for and when the seller called to tell me they said “It was a tough decision since the other agent offered all the marketing services I did (including Video)….turned out to be a slide show in WAV format. Wonder what other marketing services they THOUGHT they were getting?
Kori Covrigaru | Feb 27, 2009 | Reply
As a member of a “virtual tour company”, or as I prefer it, an “Interactive Media Company” I think this is a positive move for WellcomeMat. Agents and their potential clients are often fooled by still slide show videos and panning photos that are nothing more than visual trickery.
What potential buyers need and want in this market and age of technology is information. Information sells. Information leads to inquiries. Floor plans and associated photographs are strongly overlooked in most regions of the US. Video is nice and important in some respect, but without a digital interactive floor plan, I don’t see how that could be more informative. That’s my bias opinion when it comes to “video”, slide shows and panning still photos.
Its about time we start providing potential buyers with information they can use to make an educated decision about a purchase, or even what listings to pursue.
Kori Covrigaru, CEO
PlanOmatic
Kristin | Feb 27, 2009 | Reply
Unfortunately, true, high-quality video is not an option on most agents’ budget. Unless you have a listing of $500k or more, it’s hard to justify speding that kind of cash. The only option is to shoot the video yourself, which results in a LOT of poor quality videos out there in cyberspace. Video like that adds NOTHING to the user experience and you’re better off using a slide show or pan & zoom effect.
I tried shooting video once and without an $800 Steadycam, high-end camera and proper lighting, it’s impossible to produce something worth putting out there to the public. It was so bad, I ended up shooting a multitude of high-quality photos and piecing them together, with zoom and pan effect, into a very nice tour with a real “video” feel as it toured through the property. I combine those with accurate floor plans.
Unless the video is professionally shot, with a Steadycam and properly lighted, it is NOT a better solution than multiple photos. But I cannot afford to buy a $1,000 video solution on a $140,000 listing and I doubt too many others can, either. And there are a LOT more $140k listings than $2 million listings, so don’t expect to see true video taking over anytime soon.
I believe videographers will have to price their services based on the listing price or square footage before it really takes off and can be applied to the majority of listings.
Guess I’ll have to go back to YouTube for now.
Chris Dowell | Mar 1, 2009 | Reply
I believe everyone is missing the point. Yes slide shows are different then videos. I do both and they both have their place in my marketing program. Small rooms, cluttered rooms and small homes do not look good in a video. I do what is in the best interest of my client.
Claudia Gonella | Mar 1, 2009 | Reply
Buying real estate in a foreign country somehow emphasizes something that is true about all real estate purchases – You’re not just buying four walls but a new life. It’s a big deal that needs the richest possible media. A slide show won’t cut it. By all means use slide shows when doing a market report – but video when you’re marketing a new life and lifestyle.
David Wittlinger | Mar 2, 2009 | Reply
Our agency has a service that automatically blends our still photos with “lifestyle” photos and uploads them automatically to places like YouTube. I’ve never been truly impressed with the slideshow format but it does get people to our site. I’m not advocating the broad use of slideshow in lieu of true video, but it can serve its purpose if purely driving traffic to your site is the main objective.
I’m in LOVE with the idea of video blogging however! Ian Watt’s site is great and one I’d like to mimic some day.
Commercial Real Estate Marketing | Mar 4, 2009 | Reply
Surely, this cuts out a great majority of the market who may not have budgets for real video productions.
On the other hand, the quality of content on the site will improve to make for a true video portal – smart strategic move for the long run…
Marshandparsons | Mar 4, 2009 | Reply
Hi, we were nervous about video tours (you don’t want to give too much away to the potential buyer, there’s nothing quite like actually seeing the property in person!), but with so many international buyers looking in London, we’ve found that an actual video tour can work wonders. We’ve just launced our first tour and it has been extremely well received. http://www.marshandparsons.co.uk/property-details/?property=FUL060346
Michael Pierce | Mar 5, 2009 | Reply
@Marshandparsons.
I find the opposite to be true many times (video giving too much away). With a Video, people know that they are not wasting their time looking at something they don’t want. I see more showings and a higher percentage of those people actually consider buying the home.
People know nothing is “hiding” like you it can be with a still picture. There is so much inventory that people will rule out homes online regardless. Don’t let it be for an unwarranted reason(they can’t see enough of the house and it raises questions). It seems buyers always assume the worst when it comes to those things that they can’t see. I’m sure you have heard people all the time who have said, I’m not looking at that home because I can’t see the bathrooms or the pics don’t show enough of the flooring. At least with video, your not only increasing your traffic & exposure but you are also getting more buyers who know what they are getting into. If they only want a home on the end of a cul-de-sac, a home either has it or it doesn’t.
Dustin | May 26, 2009 | Reply
Kristin:
The reason the price is so much higher for video is that it is more labor intensive and more time-consuming. That said, my company offers a basic ‘no-frills’ video tour package for $125. That is the lowest we can go at that price point, but I’ve got a lot of agents biting (and not just on luxury homes!).
Actually, the agents listing the luxury homes are buying the bigger packages with all the frills, but video doesn’t have to be JUST for the luxury homes. All the agents I hear from say video increases their business (and saves them a lot of wasted time and energy).
Ian Lucas | Jul 16, 2009 | Reply
Looking at the bigger picture, video is best. HOWEVER, poor video can destroy your brand by looking seriously amateur. So…for video to be of use it needs to be high quality and that I’m afraid puts it out of budget.
Professional (with all the bells and whistles) pan and zoom slide shows, made from professionally shot stills on the other hand ticks all the boxes, more, better information in a more palatable format at a cost that makes sense.
It is about making you and your listings stand out from the crowd. There is a lot of competition out there, average is no good.
The arguement about “not wanting to give too much away” is b*&$£+X@s. Buyers attention is valuable they will only view properties that they love (at that point) NOT ones that they cann’t really see but might be Ok, so lets go and view it just on the off chance.
If your listing is fabulous…don’t hide the fact, ram it down their throats….in a nice way of course.