In today’s market, when a consumer is looking to buy a camera, a car or even a home, that research begins on the Internet. And with the popularity of social media and video distribution sites such as Youtube, Facebook and Twitter, 90% of homebuyers conduct heavy research on the Internet. It’s fast, convenient, every household having multiple computers and the rising percentage of Smart phones, that research can be done almost anywhere at any time.
According to a study from the Wharton School of Business, about 72% are more likely to use a product or service when a company advertises through video materials, rather than print or photo. However, few agents are currently taking advantage of video when marketing their listings, and this can be a mistake.
Photos of a potential home can say a thousand words, but cannot envoke a deep emotional response. A video tour can connect with your buyer quickly; give them a great sense of space and depth of the home and inspire the emotions needed to gain their interest in purchasing a new home, before even taking a step into the house.
Let’s face it, potential home buyers would rather watch a video than comb through miles of text and hundreds of pictures. The Rick Works Consulting can create realistic, appealing video tours, that can help buyers develop the strong emotional connection needed to take the steps towards buying a potential home. Connecting with your potential buyer on an emotional level is key to real estate. People buy house not only because it is located in a pleasant neighborhood with good schools, there also is a heavy emotional connection they feel to the home.
Video Tours are the Future of Real Estate Marketing. The next generation of homebuyers and sellers grew up in a world of media and in an age of accessible information. Capitalizing on this new form of marketing in a key component in today’s marketing. Buying a new car, a new refrigerator, or even a new home, it’s important to take advantage of the new form of marketing.
Video can save you time. Once it is shot, edited, and uploaded, any number of potential home buyers/renters can take a virtual tour of the property instead of you having to bring everyone on a physical tour. This will weed out people uninterested in buying so you can focus on giving more attention to the qualified leads the video has brought in.
Video showcases the property. Video enables homebuyers/renters to get a feel for the property in a way that still photography cannot match. With a video tour, viewers can get a sense for the flow from room to room while simultaneously benefitting from audio commentary on architectural features or other advantages of the property.
Video provides a consistent sales message. A good video will present the same concise sales message to every viewer. There is no chance something might be forgotten, missed, or rushed. An in-person viewing may be cut short, features can be forgotten and the message may be lost, but a video can be paused and resumed or even viewed multiple times.
Our culture is an increasingly video-oriented one. Motion and music are effective tools at capturing and maintaining interest than still, soundless photos. A professional well-produced video, can inspire stories in the imagination of your potential client, creating a future family and a life lived in what could be their new home and can enhance your standing in the eyes of potential clients, building trust, connection and hope in a potential buyer.
When I say ‘Video Tour’, I do not mean a glorified slideshow of pictures, set to music. A slide show can be irritating to potential buyers. When I say ‘Video Tour’ I mean a professionally shot tour of the home, that will give then depth, feel and flow of a home.
Let the Rick Works, help you create video tours that will not only impress potential clients, but inspire the emotional conection needed to take the next step in the house hunting process. Emotional connection to a home, and a trusting professional connection with their potential realtor can all be created with a professional video tour. The Rick Works Consulting can help you make that connection with your potential client.
Statistical Data on the Benefits of Virtual Tours
- Home Buyers who used virtual tours as a significant portion of their home-buying experience spent an average of two weeks with a Realtor® looking at homes, compared to those who did not use the internet, who spent an average of seven weeks looking for their home. (2008 RIS Media)
- As of August 2006, over half of American adult internet users (61%) have taken virtual tours of another location online and on a typical day, more than six million people are taking virtual tours in cyberspace. (2006 Pew Study)
- According to the 2007 NAR home buyer and seller profile, for the first time ever the Internet has tied with the agent for most important information sources used in the home search (84%). As of the end of 2007 65% of agents have their own web sites.
- 79% of repeat buyers & 84% of first time buyers use the internet to search for a home. (2006 NAR Survey)
- Images are one of the biggest reasons Internet marketing has become so popular. (2007 NAR profile of home buyers and sellers)
- 54% of home buyers who are searching for their next home on realtor.com will not even look at a home unless there is a featured tour. (NAR, January 2006)
- The median income of Internet searchers is much higher, at $86,900, compared with $50,400 among those who did not use the internet to search for a home. 2007 NAR Profile of Home Buyers and Sellers.
- 96.2% of travelers use the Internet as a source of information when planning a trip. (2006 Pew Study)
- 84% of all buyers and 87% of first time buyers use the internet as an information resource during their search for a home. In the 25-44 age group this number jumped to 91% of all home buyers.
- Home buyers use the internet slightly more frequently (66%) than real estate agents (64%) and much more frequently than newspapers (17%), home magazines (10%) or television (2%).
- Only 1% of homebuyers did not find the internet useful and 100% of those that use a real estate agent take two weeks to search on their own before contacting their real estate agent. 64% of all home buyers used the FIRST agent they contacted.
- 33% of all buyers are now using social networking sites with 19% using them at least a few times per week.
- 80% of internet shoppers say images are imperative when deciding to buy or use a company’s product or services. (2006 Pew Study)
- A compelling use of virtual tour technology will keep visitors on your site, and will also keep them coming back.
- In cyberspace, a site with a virtual tour and interactive media will receive 38% more views than a competitor’s site that is lacking media. (2006 Pew Internet Life Study)
- 80% of consumers search for information online. That means at least 60% of your marketing dollars should be spent optimizing your company online.
- The daily cost for print advertising varies from $66-$150 per day and has a shelf life of about 30 days. Print advertising has a limited market penetration based on your distribution and does not allow the consumer to interact or engage with your product. The cost of an online interactive virtual tour is about 27 CENTS per day and has a shelf life of 365 days with WORLDWIDE penetration. The cost to interact with your client is MUCH less when you use online interactive media.