Our colleagues from HipVP (Hip Visual Properties) recently informed us that they were leaving the Vancouver market and heading for a warmer climate … Portugal!  We first contacted Carmen Mattoli and Natalie Olszowy about a year ago to welcome their company to the real estate market in Vancouver.  Home video tours are still in their infancy and we appreciate anyone that is dedicated to encouraging the use real estate video.  We especially liked their multimedia window and their neighbourhood videos. 

Before they left, we acquired their stock video footage from the many landmarks around Vancouver and the Lower Mainland.  We will be launching our new neighbourhood video service soon that will allow our clients the option of having an additional video tour of the neighbourhood to complement their Video Openhouse Tour.  It’s great way to give additional context to any virtual home tour.

 

 

About a year ago, we wrote a post titled, “Blu-Ray or HD-DVD“.  The article was about the 2 high-definition formats competing for the hearts and minds of consumers.  This past week, events occurred that would seem to signal the death-blow to the HD-DVD format.  Hollywood movie producers, Warners Brothers, decided to back the Blu-Ray DVD and cease to produce high-resolution DVD’s in both formats.  Rumours have the Blu-Ray discs outselling their HD counterpart by a 2:1 ratio.  Many of the industry players have been waiting for clear market momentum.  Warners actions have made backers of the HD-DVD to “rethink” their loyalty.

Unlike the Beta vs. VHS faceoff in the 80’s, the winner was not determined in the marketplace by the consumers.  The ultimate format was decided in the boardrooms of the major studios that were invested in the outcome of this battle.  It may not be long until your Video Openhouse Tour is available in hi-def on a Blu-Ray disc!

 

Over the holidays, I started reading the WellcomeMat “Neighborhood” Blog (they are an american company, hence the missing “u” in neighbourhood).  For those who aren’t familiar with their website (http://www.wellcomemat.com/), “WellcomeMat is a video network that connects you with people and resources to most effectively market real estate, neighborhoods, cities, events and local businesses.”  Their website allows you to “find and hire local video producers, upload and map your video tours/photos, and collaborate with thousands of people dedicated to making local video happen.”  They have a great series of blog entries about the Top Objections to Real Estate Video that inspired this post. 

When I hear Realtors say that having a video produced is too expensive, I always challenge them to look at it not only as a listing tool but also as an opportunity to market themselves.  Our video tours regularly get hundreds of views, and occasionally into the thousands.  Our customized webpage allows our clients to extend their branding to the window that the video is embedded in.  The huge demand for video content on the Internet creates a unique opportunity for Realtors to promote themselves.  Imagine having a captive audience with your photo, website, email address and contact information prominently displayed at the top of the screen for the entire 2 minute duration of the video.  I won’t even mention the number of listings you may win when you play your DVD copy of your tour at a listing presentation.

If we look at it from a purely ROI perspective, it would seem that video would only allow itself to high-end properties, where the commissions could justify the cost.  If the return on your investment is based on the number of unique views, then our statistics show that properties in the lower end are receiving a far greater number of views in comparison to video tours for luxury properties and in return, offering greater value.  Video, in conjunction with other marketing efforts can provide enormous returns.  We recommend that our clients provide a direct link to their video in all their marketing.  Statistics have shown that there are very few methods to effectively drive visitors to a website.  Video is the hook that will get your website results. 

If you value your time, video tours can save you the time taken to walk an uninterested buyer through a home.  Video tours can be used as a method to pre-screen potential buyers.  All you have to do is send them the link and they can tour the house in a virtual environment.  Realtors all want quality prospects.  Should the buyer decide that they want to see the property, they are clearly interested in the real possibility of buying.

I would also suggest that Realtors compare the results from having a video tour produced with other forms of marketing.  Is the value you are recieving for your magazine ad comparable to the results from having a video produced?  Unfortunately, tracking how many people actually looked at your ad is nearly impossible, but using our web statistics, I can call tell you exactly how many times your video was viewed.

Finally, if you empower your clients with as much quality information about your listings (video tours, high-res photos, floorplans, neighbourhood info), they will in turn, reward you with their dollars.