Stone Real Estate’s founding partner Tim Mumford is using video to educate his buyers before they have met him.
“Video is the new version of the letterbox drop, the new version of big photos of yourself in the paper,” he told Tom Panos on his Real Estate Gym series.
“This is going to be the next five years of really broadcasting yourself, so if you’re not good at it, learn it.”
Mr Mumford said when a potential buyer makes an inquiry about a property on a real estate portal, such as realestate.com.au and Domain, they will automatically receive his video.
“We tested it with other channels, like texts and newsletters, but when we looked at the stats we saw that nearly 70 per cent of people are interacting on mobile devices, and that video is a great way to click and open.”
That sets them on a trail, depending on where they are in the buying cycle. Mr Mumford’s CRM system generates tailored video content according to where the potential buyer is in the buying process.
“The big thing that we have found is there is a space in-between the interaction of that first inquiry and then meeting you at an open home where there is a huge amount of room for you to show yourself before they get there,” he said.
“They’ve met you through a video, they feel like they know what you’re like as a person, and when they show up ... it feels like there is already a relationship.
“It was a little bit weird at the start because people would be coming up shaking your hand like they know you already, but you’ve never actually met them before.
“But it is a way to break down the barriers which a lot of buyers, when they first enter the market place at whatever level, are sort of a little bit cagey around real estate agents and the misconception of what we are doing. So it shows who we are before they are getting to deal with us.”