People have been saying video is the future of real estate for several years and in that time I’ve have seen some amazing examples (see: ‘When I Dream About Listing Video’s This Is What I Dream About‘, ‘The Most Sex Filled, Action Packed Invite To An Open House You’ll Ever Get. I Promise‘.) but it never seems to actually happen. Our clients have added videos to their single property Websites (see: ‘A Realtor Marketing Above and Beyond?‘) but it is unfortunately too rare.
The increase in online video viewing is undeniably on the increase as evidenced by this data circulated by YouTube as part of their sixth ‘birthday’ celebration:
The YouTube blog post adds they have seen a 37% increase in views over the last six months and a 100% increase since last year.
But I keep asking myself if video will ever go mainstream in real estate? Even with an almost overwhelming choice of hardware, software, vendors and training, many real estate videos end up doing more harm than good to an agents reputation (see: ‘Listing Video’s – The Good, The Bad and The Hilarious‘). Industry execs continue to complain about agents who do not include photographs when marketing listings and then there are the many that add photo’s that are so bad one can’t help but find them entertaining. Unfortunately this means we are laughing at the agent rather than with them (see: ‘Bad MLS Photo’s‘, ‘The Worst MLS Photo’s Ever?‘, ‘Home For Sale – Sex Toy Provided Free‘). I think it’s safe to assume that anyone who doesn’t add photographs to market a home will never create a video.
Answer honestly – do you think Realtors will ever make video a core component of their marketing? I suspect not.
With improvements in broadband, it would have to be the single best marketing tool an agent can use. Sadly, many don’t even bother with a decent photo. I assume some of these are trying to double end the transaction.
Where’s the delete/edit button 🙂
I’ve edited the first comment for you Stephen – hope I got it right 🙂
As a leading provider of online education exclusively in VIDEO format, I hear you loud and clear: not only is video not being adopted for marketing purposes, but too many “educational” events are nothing more than slides-with-disembodied-voices. Ironically, when I teach our “Power of Video” workshop, almost every hand goes up when I ask who has watched the “Old Spice Guy” commercial on YouTube…. but then when I ask who has a video on every listings, all eyes look down. The industry can move faster towards video adoption if it thinks about treating its potential clients the same way it treats itself. Nobody would purchase a car, computer or even a pair of shoes (see Zappos videos of shoes!) without watching the video. But somehow we still can’t seem to integrate that kind of expectation into the standard of performance for TODAY in listing properties… Video marketing can’t take three years to become “normal” – like it took for agents to go from 1 photo to multiple ones – it needs to happen fast.
On a positive note, the companies that are doing video are capturing the consumers’ attention and really cornering the market. Our clients who are making the transition report significant increases in per-listing view time and site visits – and increased sharing of listings to buyers’ friends and family by social, too.
When 33% of all MOBILE data consumed is video (as it is today) it’s clear that videos time hasn’t only come – it’s passing a lot of people by….!!!!!!!
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Glad you brought up video . Real estate agents have no choice. Consumers want video and Coldwell Banker is way out in front. We responded to your post with one of our own. Will Real Estate Ever Fully Adopt Video?…the answer is YES! (http://blog.coldwellbanker.com/will-real-estate-ever-fully-adopt-video-the-answer-is-yes/)
Hi David,
I agree Coldwell Banker is ahead on video usage and I’ve been an advocate (and channel subscriber) for a while. I love what you are doing on YouTube and blogged about it in 2009 (see: http://tinyurl.com/3q6rbdw) and the recent coverage of the Generation Blue Conference is also excellent (see: http://tinyurl.com/3qjn8bs).
Relative to other major real estate franchises/brands Coldwell Banker corporate has adopted video in a very forward thinking way. Keller Williams is a close second but the rank and file agents still need a lot of help. I look at things from a consumers perspective and am often left scratching my head.
The computer based voice in this video takes almost all of my attention. Instead of concentrating on the home I feel like I’m watching an 80’s sci-fi movie:
http://www.youtube.com/watch?v=8s6ObOCOnQs
This next video is worse, it’s just missing the “Press 1 to find out how many toilets this home has”:
http://www.youtube.com/watch?v=kQfWCbvg-vY&NR=1
Too often agents focus on marketing themselves more than the home. Why is only 25% of the screen used to show the photos of the property in this video?
http://www.youtube.com/watch?v=5fkX8YDQsjY
To be fair, this imbalance is seen in many areas of real estate marketing, not only video.
If my home was in featured like this I would be disappointed, especially when I know that video can be so much better. Several moving images with a computerized voice over is not what I consider video even if it is on YouTube.
Again, I think Coldwell Banker is doing an excellent job. I just think we’re going to see poor video’s for a long time to come no matter how much help agents are given. Let’s both hope I’m proven wrong 🙂
Steve
In my market (New England), video is definitely on the rise. We have been providing video tours of homes for over 6 years now, and can hardly handle the amount of business – it’s off the charts. New agents on board almost daily, and they’re all seeing faster sales, and more importantly, getting more listings because of the way they market.
It’s been a long haul, but the smarter agents do get it. I find it interesting when I hear about the slow real estate market from REALTORS, yet when I speak to MY clients who use video regularly, their business is GREAT. In fact, many tell me the past year has been the best in their 20 year real estate career.
Hi Fred,
I appreciate your comments on our blog but wish they weren’t as ‘salesy’…
Steve
Ahhhhhh Felsy,
Im sure this is not a softball just for me? VIDEO is the future of all real estate marketing. I drank the Kool-Aid long ago. I have been paid hundreds of dollars to teach agents the best ways to use video. I have used video and have seen results in DAYS. But not every video has produced rapid results, but they have started conversations that may never have been otherwise. An agents video library, their YouTube account will be worth $$$$ when they want to get out of the business. All those videos can serve as a time capsule for the home/street/city. They can produce clicks for an agent for years to come. Its not not a question of will it become the norm but when. If we are at 12% now… I think when we hit 25% it will be the tipping point. Agents will then be judged on their video library and customers will be watching and choosing accordingly. Lights…Camera…ACTION!
Hope to see you soon
TIM
Hi Tim,
I’m with you on all of the values you detail but my I’d like to know where the 12% comes from?
Let’s assume 12% of listings have a video – how many of them do the home credit? I’m guessing we are down to 1%, if we dream wildly 2%. This leaves 98% of homes without a productive video. Uploading moving images to YouTube does not a video make.
Again, I’d love to be proven wrong here but still feel that for the vast majority of Realtors quality video will remain elusive and rare.
Steve