If agents and principals don't use video as part of their marketing mix they will be left behind as consumers continue to vote with their mouse, a real estate agency principal involved in media production has claimed.
“People don’t read as much as we like to think they do,” said Edwin Almeida, managing partner of Sydney-based agency Just Think Real Estate.
“Video is the new format to not only showcase property but also get our message across, in my case it’s about educating investors, vendors and new landlords.”
Mr Almeida, who also produces videos for real estate agents through his company Just Think Media, said the increasing popularity of YouTube is making video more relevant to agents.
Late last month, real estate listing portal Domain told Real Estate Business that real estate agents who used a video in their property listings in the past year received a 400 per cent increase in enquiries and website page views.
Tony Blamey, general manager real estate, Fairfax Marketplaces (owner of Domain.com), said there are many unique benefits associated with video, which are yet to be consumed by the industry at large.
“Video is a new way to engage potential buyers, maximise your audience and showcase property features in their very best light,” Mr Blamey told Real Estate Business.
“Using video as a property marketing tool, better conveys the key selling points of a home, the lifestyle of the area and the personality of the selling agent.”
“Online videos also help people who cannot attend property open days, thereby maximising the number of potential buyers regardless of geographical or time constraints.
These comments were in reference to recent figures cited by Domain, which found YouTube had booked 6.7 million Australian visitors, with more than one billion videos watched per month in Australia.
“Every week we are hearing more and more success stories from people using video as a major selling tool in their listings. Properties are being sold exclusively from videos and international buyers are purchasing sight unseen as a direct result of viewing videos,” Mr Blamey said.
Eddy Piddington, sales executive at Cunninghams Property, believes the use of video will continue to increase as more agents incorporate it in their marketing mix.
“I don’t see video becoming the only way to present listings, but the growth of internet usage and video sites such as YouTube means all agents should be taking note,” Mr Piddington told Real Estate Business.
“I think it is a combination of all media available, online, video and print. I mean, 30 per cent of our buyer enquires are still generated from print media.”
“Video is a terrific way for an agent to differentiate themselves from the market, particularly in my area where four or five of my competitors will list a two bedroom very similar to mine, yet I’m the only one with a video listing. So it is something different that helps the property stand out from the rest.”
Mr Piddington added that if incorporated correctly, video can become a fantastic toold for agent to target key demographics in their area.
“If you look at the $400,000 apartment market, many are buyers are in the first home buyer demographic who are very savvy online and begin their search on the web,” he said.
“But also properties in the $2 million plus market are perfect for overseas investors, so video become a perfect medium to show the property to people who may not have access to the home.”
Mr Almeida said Just Think Media will be hosting the inaugural Real Estate Marketing in the Future Seminar on Wednesday 21 December at the Rydges Hotel in Parramatta.
The event, which is free to all real estate principals, will include speakers David Giles, communication and presentation expert; Anthony Carroll, marketing consultant; and Phi Nguyen, multimedia consultant.