With 165,000 video views and counting, one Aussie property management business is making waves with the use of video in its everyday business.
Melbourne Real Estate head of business development Stephen Fitzsimon said they started using videos in their business in 2012.
“We use videos for a variety of reasons – the key function is the walk-through tour that Todd Breen introduced us to, and then we have expanded a little bit,” he told Residential Property Manager.
“It is still evolving technology, so there are still some issues we are trying to work around.
"The general feedback and usage of it has been very powerful for us,” he added.
Mr Fitzsimon said their property management YouTube channel is the most watched nationwide, and possibly globally.
“Every rental property that we will have on the market that is at some stage vacant – because we don’t do them with tenants' possessions in them – we will do a walk-through video tour of the property and that cuts down the number of inspections we need to do and increases efficiencies across the entire board,” he said.
“The tenants love it too – we still make them turn up because we want to meet them, but also in relation to the property we want them to see the area, and confirm their beliefs.
“Because there is a lot of suspicion in the rental market that the photos make the place look bigger and those types of things,” he added.
Mr Fitzsimon said an important thing to realise is it is hard work.
“We have had temporary staff who come in to fill a role and they have been too embarrassed to do a video,” he said.
“I have staff that will hide away and get anyone else to do them, because they feel that they are bad at them.
“You have got to get people out there doing their first five or ten, then after that they are alright,” he added.
Also speaking to Residential Property Manager, Virtually Incredible founder and property management consultant Todd Breen said many companies who are utilising video walk-through tours are winning the coveted 'Best Marketing' awards at REI events.
“Tenants love to walk through a property 'online' with a complete walk-through tour before booking an inspection,” he said.
Mr Breen said benefits he has seen from PM businesses using video are shorter vacancy times, more listings won and outsourcing.
“Do invest in proper equipment such as wide angle lens, monopod and handle,” he said.
“[And] do stabilise your YouTube videos so the viewers can enjoy your show.”
One area Mr Breen said he finds video lacking in the PM process is condition reports.
Video is an effective tool to communicate the condition of a property to the owner, especially at turnover,” he said.
“Owners love getting a video condition report that shows why they need to send money for needed repairs and maintenance.”