With the rise of people switching to digital media as their main source of information, I sympathise with the difficulties real estate agents may be facing when approaching the convergence of mobile media marketing. Many agencies have begun implementing new methods into their marketing strategy and the statistics that compliment this make it an obvious option for 2017.
In previous years, agents have relied on property viewings to secure a deal but issues with this have been quick to arise. This type of real estate marketing limits reach in terms of location demographics and restricts the property's exposure. Cementing your place on the video marketing property ladder will increase your prominence amongst a global community, attracting customers from different regions allowing them to take a virtual tour of the property without having to make the journey. However, this isn't to say traditional methods like physical property viewings are to be scrapped, it just means that you're increasing the reach in clients tremendously and once interest in a property has been secured, revert back to plan A and reap the rewards!
Not only does it reach thousands more potential clients but it also increases productivity and profitability. Real estate agents who opt to employ video into their marketing strategy spend a considerable amount of less time AND money promoting the property. These costs are usually made up of print marketing etc and can be redirected in to other aspects of the agency. The cost of a video is relatively low in comparison to the time and money spent traditionally and therefore you're allowing the business to use extra money for a range of different things like point targeting or even one of the 3 other digital marketing strategies I advised in a previous article targeting but not limited to B2B companies. (Click here to read "4 B2B Digital Marketing Trends to get you ahead in 2017")
Here are a few statistics that may aid your decision on whether a video is right for a real estate business:
An Australian real estate group reports that real estate listings with videos receive 403% more inquiries than those without videos. In other words, real estate ads with videos generate quadruple the leads of those without videos.
73% of homeowners would be more likely to list with a realtor who uses video to market their home.
Century 21 saw an increase in home sales of 20% after running a video marketing campaign on social media sites including Facebook, YouTube and Flickr.
The National Association of Realtors found that 85% of buyers and sellers prefer to work with an agent who uses video marketing but only 9% of agents are actually using video.
Most estate agents charge vendors an upfront marketing fee with prices varying from £250 to £2000 depending on the marketing plan for the property. Most of the time this is one of the key factors for the vendor when choosing your agency over your competitor. Now imagine explaining to the vendor that you will organise a professional video tour which is accessible online to hundreds of potential buyers who can view the video rather than scrolling through the listings on the property portals.