The impact of property video content on Estate Agent sales

The impact of video and visual information on the real estate market: facts
Although everyone is aware that the ongoing pandemic is influencing both the residential and commercial real estate markets, few people are aware of the influence of video content on property sales.
Before 2020, the property industry was beginning to embrace the usage of more visual content, including property video, but as the world has become more online dependent, its use has grown tremendously. 
Many Estate Agents and property owners still don’t comprehend the value of video to sell a property and are hesitant to invest more heavily in it.
According to recent survey, one in every four Americans would be working remotely by 2022, with 36.2 million Americans doing so by 2025, up 87 percent from pre-pandemic levels.
“In less than eight weeks at the start of the pandemic we’ve jumped five years ahead in consumer and enterprise digital adoption.”
These data are represented in variety of businesses and markets around the world, including the real estate industry.
Visual content has never been more vital than it is now, with more and more customers staying at home and adapting to remote lifestyle.

The difficulty is that the changes happened so quickly that many firms were caught off guard – a couple of years later, many are still trying to figure out what this means for their company. Many of them are still treading water, hoping for a’return to normalcy’ that will never arrive.

This was mirrored in a shift in the real estate market: in the seven weeks leading up to the 4th of May 2020, TV ad spots saw a 124 percent increase in property advertisements, compared to the same period in 2019. (Nielsen). This is obvious evidence that people in the real estate industry realised the rules of marketing had changed.

Looking ahead, Cisco estimates that by 2022, a huge 82% of all created property sales content will be video.

However, knowing all of this is one thing; understanding what to do with it is quite another.
As an estate agent, you should be asking yourself the following questions:
What impact does this understanding have on me?
What am supposed to get out of it?
What should do with the money have set aside for marketing?
We’ll try to answer these questions for you in the next few minutes.

To attract more visitors to your website – use video!

If you aren’t already using video to sell your properties and your company, you should start right now. The numbers are self-evident.

Video catches and holds visitor attention on your website, whether you’re marketing a property or promoting your agency:

According to Unbounce, including a video on a landing page can raise conversion rates by 80% – and the reason is simple. Take a look at this graph — time spent on web sites with video is much higher.

If you include a video on your landing pages, this means that visitors will remain longer and see more of your content. 
This not only boosts conversion rates, but it also enhances SEO because visitors who stay on your page for longer periods of time have lower bounce rate (Google likes lower bounce rates).

In addition, audiences recall 95% of message while watching it in video vs 10% when reading it in text (Forbes).

To put it another way, video has big impact on viewers and makes lasting impression – enough to not only keep their attention but also influence their purchasing decisions.
In 2018, 52% of home purchasers located their new home using the internet (NAR). 
Today, that percentage is probably close to 100 percent.

To sell more properties – use video!

Okay, let’s use some more video. That’s a simple statement to make. But which movies perform best, and how much of a difference can you expect in terms of results?

Here’s a review of some of the different sorts of property videos and video elements, as well as the influence they can have on your property sales (if done correctly):

Property walkthrough videos

According to one leading UK estate agency firm, property listings with videos generate roughly four times the number of inquiries as those without (this, and following figures from the NAR, unless otherwise stated).

 

As travel and social distancing rules make ‘normal’ watching harder, video use in property marketing will become progressively more important in 2021 and 2022.

Currently, 73% of homeowners think they are more likely to list their house with real estate agent that employs video. 

Unfortunately, only 9% of agents make listing videos at the moment.
In contrast, according to the most recent 2021 poll, 58 percent of buyers want and expect to watch video of home they are considering buying online.

All of this is wonderful news, especially if you’re not already using video to market property sales, because it means you’ll have a 90 percent advantage over your competition and first access to over 70% of your selling clientele simply by starting today.

Video-enhanced property listings are more appealing to look at. For many consumers, property listings with video are easier to interpret in terms of arrangement (as opposed to just having a floor plan).

Property listings with videos have higher levels of engagement and authenticity. While viewers are aware that images are arranged to present a room in its best light, they perceive a video to be more honest. It provides the appearance that nothing has been left out or hidden.

As a result, listings with a video are more trustworthy.

As previously said, this has an effect on your conversion rates; if property is already liked and trusted by potential buyers before they see it in personal viewing, they will have formed favourable opinion of it by the time they step foot in it. 
This emotion is extremely difficult to get rid of.

Videos of the property area location

Video is fantastic marketing tool for advertising and promoting region, in addition to showcasing the property itself. 
This can be included in the listing video, or if your company services multiple locations in region, you can make multiple movies detailing the highlights of each area.
In either case, this might position property in desirable location.
According to the NAR, 86 percent of all homebuyers who use video in their search use it to explore specific location, so give them tour yourself.
You will also be gaining people to your website who would not have found you otherwise if you promote yourself as ‘location authority’ via your region overview movies.
As result, these may be used as both property sales tool and marketing tool for your agency — win-win situation!

Use of Drone Footage

According to RISMedia polls, listing agents who use drones for property sales may expect a 73 percent boost in interest in their listings, as well as a 68 percent increase in sales.
Meanwhile, according to Sold by Air, 83 percent of home sellers prefer a video content creation business that uses drones.
According to the NAR, only 29% of agencies already employ a professional drone pilot, with another 14% planning to do so in the future.

360° Property Video

According to Matterport, 74% of estate agents that use their 360° video technology win more listings, and 95% of customers are more inclined to call an agent regarding properties that include a 3D virtual tour.

In addition, they determined that nearly 80% of 1,000 home buyers would switch to an estate agent who offers immersive 3D tours of advertised properties in their survey.

More curiously, a whopping 55% stated they would buy a home without seeing it if a 3D tour was accessible online.

When we consider the existing difficulty of in-person viewings, this information alone makes for fascinating reading. It’s also worth mentioning that this poll was taken in January 2020, before the epidemic pushed people to online living, so the number is likely to be significantly higher now.

Finally, 99.4 percent of sellers said that included an immersive 3D tour in their property listing would give them a competitive edge. Whether it does or not (and we believe it does), the fact that sellers believe it does implies that by delivering 360° video, you will win more listing possibilities, more of the time.

In other words, it’s a new technology that helps you earn sales while also increasing your marketing exposure.

To view a sample of this fantastic technique to interactive house marketing, simply click on the image below:

Virtual staging of Properties

On average, a staged home sells for 17% more than a non-staged home. Furthermore, 95% of staged homes sell in 11 days or fewer (Forbes).

According to the National Association of Estate Agents, 83 percent of buyer’s agents said arranging a home made it simpler for a buyer to see it as a future home.

So, what should you do if the house is now unoccupied?

This is no longer an issue, as modern technology allows you to digitally stage a property and create a staged movie – even without furnishings!

This is the most recent trend in real estate sales, which has been accelerated by the pandemic and the problems of real-life human relationships.

Use video to operate your business more efficiently!
Here are a few more ways that video can help you run or improve your agency’s marketing.

Use of Video Email

Because your email contact addresses is already full of people who adore your brand, including video snippets in your emails can be a great addition!

Forbes claims that incorporating a video in an email can raise the click-through rate by 200-300 percent.

Make sure your subject line contains the term “video,” since this can raise open rates by 19% and decrease unsubscribes by up to 26%.

Make your property videos mobile friendly

According to the National Association of Realtors (NAR), 73 percent of customers use mobile or tablet to view property information, so make sure your video is mobile-friendly. 
Smaller file sizes mean faster downloads and less data usage, as well as increased device compatibility.

Communicate with your clients

When it comes to communication, it’s a two-way street, and if you rent as well as sell, you can help your tenants by encouraging them to use video.

Instead of demanding face-to-face inspections, one forward-thinking sales and letting firm we spoke with encouraged their tenants to record their houses during lockdown limitations.

This has allowed them to continue to fulfil their letting management responsibilities while without putting their tenants – or their coworkers – in danger.

Promote your brand – promote your estate agency!

As we’ve seen, video isn’t just for selling houses; it can also be used to market oneself.
If you enjoyed this article, you might want to subscribe to our YouTube channel for frequent property news updates.
We also go over lot of other options for using property videos for selling, marketing, and expanding your customer base.

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