Video Trends | Real Estate | Showcasing homes
Green Buzz Agency has been looking at 12 different economic sectors for trends in video marketing practices. For the next 12 weeks, we’ll be posting one blog series each week that analyzes one of the sectors. We’ll be covering Energy, Education, Fashion, Finance, Sports, Politics, Real Estate, Travel, Food, Events, Non-Profits and Health.
Video is an increasingly popular media form and more companies and organizations have been turning to video to send their message across to clients and employees. Real Estate agencies are one of the sectors beginning to take advantage of the benefits of video marketing, however, it is still greatly under utilized.
Some agencies have been getting ahead of the video marketing trend and have an assortment of videos available on and offline. You might even see links to a YouTube channel on an agency’s home webpage.
If you don’t think video is necessary for the real estate industry, check these facts – In January 2013 Google and National Associations of Realtors released their Digital House Hunt Reports. They combined their research to find trends between digital media and the new homeowner house search and found that:
– 90% of home buyers search online during their home buying process
– Buyers use video and YouTube as online tools during different phases of the search process
– New home buyers place emphasis on virtual tours and video showcasing properties and communities
This is a three part series explaining how real estate companies can better utilize video. It will focus on residential and commercial real estate with part 1 featuring how video can help with showcasing real estate – it will address issues of time, viewerbility, budget and what some agencies are already doing. Part 2 features commercials – what makes a winning real estate commercial with examples from my top two. Part 3 will feature what else can you do with video – content videos and some hilarious viral videos.
The series will feature examples of who’s doing it right? Who’s doing it wrong? And how Green Buzz Agency can help make your video ideas into reality.
Photo Credit: Realtor.org Digital House Hunt
Most home browsing is done online with 90% of buyers using the Internet. A potential homeowner or renter is highly likely to go online during their search for their new house or apartment. They will be looking for information on the housing market, mortgage rates, neighborhood information, searching for open homes and listings. And they have to be able to see the house to buy it. Sometimes a description is not enough. People want to see what they are buying. They need visuals. Most agencies have photographs showcasing the houses but often video is over looked. But why? Isn’t it more convenient to watch a video than to click through a number of photos? Some online listings can include from as little as one picture of a property or exceed 20 pictures or more.
Real Estate companies could be hesitant to use video for showcasing spaces and houses for a few reasons. Here are a few misconceptions:
Misconception 1: Time Consuming
Turn around time of the video – what if the video takes too long to produce? This is important for real estate because a listing being on the market too long can become unattractive to buyers.
Video turn around time mostly depends on the amount of projects the production agency is working on at the time. But turn around time can be very quick! For one space on average shooting can take a half day and production can take another half or full day so the turn around time is very quick actually considering how much time goes into the rest of the sale.
A huge bonus for using video is actually how much time realtors will save. Viewing videos that showcase homes or spaces by giving a virtual tour is the efficient way for the potential buyer look at many spaces online. Here’s what two realtors had to say about video and how their agencies are using it to make the most of time:
“We use video to showcase sublease space that we market on behalf of our tenant clients. The industry tends to be conservative when it comes to the use of technology however we see this changing rapidly. More companies are providing “virtual tours” of their space and incorporating the use of video in their marketing campaigns. To benefit agencies must provide more detailed visual information for their clients and reduce the time spent to narrow down real estate options.”
“We just started using video, but it is actually virtual animation and not true footage. Our goal is to help landlords lease more space fully furnished, so the idea is to give people a true visualization of what the space CAN look like and not what it DOES look like. If you shoot a crappy space, does the video help or hurt your chances of leasing it? It would seem that most companies are treating video as a fad and not using it to save time touring space. Brokers in many instances are still married to the old space tour model. Smart ones will embrace this and use it to save a ton of time.”
-Robert Koncelik Jr.
Misconception 2: Cost
It is too expensive to produce videos for all of the listings.
There are many factors that determine the expense of a video and many ways to make your budget work for your video. Maybe your agency only wants to video showcase unique listings or maybe you do have the budget to video showcase more. Here are some factors that determine the cost of a video and examples of what a low budget or high budget video might look like.
Motion graphics of photographs
Power Point slide format
Low quality footage
Lots of Footage
High Quality Camera and equipment
Usually for luxury homes or unique listings
b-roll of the neighborhood