Selling Real Estate? You're Doing It Wrong.
Updated: May 27, 2019
Real estate market, like any other, has been massively affected by the rise of digital & mobile consumption. Securing an inspection of a $500.000 property by posting a comment on realtor’s Instagram post is the reality we live in right now. Mobile became the platform where we look for properties whether it is for rent, sale or purchase. We do the research, compare, look for inspiration, and big part of the final decision depends on this early stage at least because that’s when we decide which house is worth checking out and which would probably be a waste of time.
For the developer or real estate agent the ambition to make an impeccable first impression online has to be just as strong as the effort to create a curb appeal. Before you get somebody to the doorstep, keep in mind that for today’s consumers “there is "no line" between offline and online. It’s a non-line world”. Meaning if a person is looking to invest hundreds of thousands dollars and can’t find anything about the listing but a couple of unedited pictures clearly taken on a mobile phone his first impression of the property itself – whether it’s better or worse in reality – will be negative. And it cannot be taken back!
Take a look at the pictures included in one of the listings that show up when you search for "buy a house in Miami":
This house is actually 3,269 sqft, has 6 bedrooms, 4 bathrooms and sells for only $285,000. But the authors of the listing only uploaded these two images. And they say NOTHING about the property. As a result – the listing has been active for over 200 days.
Remember, it’s YOU who knows that the house is worth the money, has great location and offers stunning views. Potential customers browsing the Internet DON’T know it yet. What they will think of it will depend solely on how you present the property’s image online. Creating an attractive, user-friendly, self-explanatory online listing with high-quality content that targets right audience is a CRUCIAL part of the sale.
Now, what kind of content today’s consumers are expecting? They need something that will answer most of their questions in a fast, visual, entertaining way. And there’s just one tool that fulfils these criteria: VIDEO.
Consider these facts:
4 times as many customers would rather watch a video about a product than read about it. You can write a page long description of all the amenities and features of the house, and you might lose a customer just because he is lazy to read till the end. Or you can post a video that only requires pressing the play button. Or not even that, if you use an autoplay.
Real estate listings with video receive 403% more inquiries than those which do not include video. That means instead of 1 inquiry daily you’ll get 5.
73% of homeowners would be more likely to list with a realtor who uses video to market their home. Using video doesn’t just increase the number of inquiries a property receives, it also increases the number of people who will want to work with that realtor.
And, most importantly, videos will save you lots of time! Instead of spending days on meetings or answering calls from people who a priori are not the right match for the property, you post a video that answers most of the questions filtering out those who look for something different and targeting actual potential buyers.
Now, according to The Future of Business Survey created by Facebook, OECD, and The World Bank,
92% of real estate companies in the US use online tools to advertise to potential new customers.
It means, unfortunately, that the market is extremely competitive and congested. And in order to stand out – you need your videos to be better than your competitors'.
Check out this abstract from the latest state of marketing strategy report by CoSchedule:
“Content is not king; relevant content is. Don’t simply focus on creating high-quality content. Devote yourself to creating the right kind of high-quality content”
It continues: “You can spend 30 hours or more on a single piece [of content]. But if it’s not laser-focused on the right audience… Or converting traffic into customers… Or you don't invite your audience to consume it… It won’t move the needle for your organization”.
So NOT any kind of video will work. High quality is significant, but relevance is vital. Focus on defining your audience and their insights – that will help you find out what triggers their shopping intent.
Is it investors that you need to bring in? Then they might be less interested in the number of bathrooms in each apartment unit, but more in the value that the property will bring to the life of the community and in hearing architects speaking about features that will contribute to the surrounding area.
Like in this video we made:
Is it buyers that you need to impress? Then it is important to show the amenities, interior spaces, and of course, the neighbourhood. Is it close to the major retail and food amenities or does it have private beach access? What kinds of materials were used in construction? What's the view from the living room during sunset time? CLeverly structured video can answer all of those questions.
Like this one we made:
A video gives potential buyers an experience, tells a story about living there, and makes them smell the coffee they will drink in that kitchen.
Remember, you are not selling the house. You are selling the lifestyle. And there's nothing better than high-quality relevant video to help you do that.
If you want us to create video for your real estate listing, contact us here.
If you’re not certain what type of content will work for your marketing objective, we also offer consulting. You can reach us via contact form on this website, through Email, on Facebook or Instagram.