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I am working on a presentation on "Why Video" for a local Real Estate Agency tomorrow so I took the time (several hours) to look at a random sampling of 1000 listings for sale in the Charlotte, NC area.  Here is a summary of my findings: 

  • Of 500 Listings (250K-500K)  - 2 had *real* full motion video
  • Of 500 Listings (500K-1M) - 4 had *real* full motion video (2 of them were my clients) 

I emphasize the word "real" because there are many people who like to use the word "video" when all they are offering is a static photo slide show set to music.  There were a few more of these offerings as follows: 

  • Of 500 Listings (250-500K)  - 7 had slide shows (amongst 4 agents)
  • Of 500 Listings (500-1M) - 13 had slide shows (amongst 5 agents) 

It just goes to show how untapped this method of marketing homes is.  I am convinced that as more agents use (and get better at) full motion video, and as sellers start to ask for it - full motion video will become the norm.  

I conducted this research another time back in January, 2008 but didn't have the foresight to write down the statistics.  As I recall back then, I only found 1 full motion video in all the listings I checked (which was several hundred, but not quite 1000).  

Bottom line:   Full Motion Video ---- It's coming --- be ready for it, or find a vendor who already is. 

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Amazing Video Tours offers photography and full motion video marketing solutions to Realtors, and other individuals with property to sell, lease, or rent.  A departure from the old fashion 360 Virtual Tour, Amazing Video Tours takes online property marketing to the next level.

 
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5 Comments on Research shows that less then 1% of Agents use Real Full Motion Video

DEC
01
2008
180,733 Points 25 Featured Posts Outside Blog

I did a similar study here in the Portland Oregon area just last month. ALthough I did not take any numbers down I did conclude that the percentages of what you quoted are consistant here as well.

Our Multiple listing service is gearing up for video. This last newsletter they anounced that a new field ( Video ) will soon be availlable for our listing module online.

I have been using the virtual tour button for my YouTube Videos where typically you will see the stills set to music.

Another interesting thing about Real Estate Video is that your percentages hold true when searching the internet.

I believe this will change in the next year or so as consumers start to notice that video's are availlable and begin to ask speciffically for them and not the slide shows. 
9:26am • #1

Same goes in my area. Right now I have started offering a backend package where the realtor or broker only pays if the home sells,there is a small service fee upfront but that is all, even that didn't stir anybody to have a video tour. Most think they already have one in a virtual tour. Its tough but I will continue to offer eventually I know that video tours will be the norm.
9:56am • #2
DEC
09
2008
135,320 Points 17 Featured Posts

Video will never be the norm.  It's too complicated for most. Even a virtual tour of ANY kind, here in 2008, is only attached to only about 20% of all listings - pretty much anywhere in the country.  A virtual tour (by ANY definition) in this market isn't even a majority, lot alone the norm. And the majority of those are just repurposed still photos from the MLS in a slideshow zooming in and out.

Video will always be a niche market, utilized by the smartest, brightest, best agents in the field who 'get it'.
6:17pm • #3

Our REMAX company in Lansing has 600 or so residential listings of which 102 have full motion videos and 303 have virtual tours.  I also see all the backend statistics from REMAX's backend on these listings.  Those with tours when matched up with a comparable without a tour get twice the number of "Listing Views".  Listing views are when a consumer clicks through from the Search Results Page to a full listing details view.  NOTE: In our system they then have to register to see the tours. 

Example: Our agent that uses video the most now has over 2200 registered buyers/users on his backend and nearing 500k in commissions this year.....not bad considering he is in one of our farther out offices, and the average price in our MLS of a sale is 103k. He also has the highest "direct" and overall traffic i.e. consumers that type in his domain address than any other REMAX agent in the State.  He gets that traffic now solely from suggestion #2 below....sign in the yard.

In addition in my tech trainings I will cover up the VT(Virtual/Video Tour) column in an agents listing statistics and then tell them just by looking at the LV(Listing Views) which listings have a Video or Virtual Tours.

So my suggestion is:

1) A virtual or video tour on every listing and not a replay of the photos on the listing.  Regardless of price or condition....a tour on all listings.

2) A corrugated standalone sign like the inexpensive signs at YardSignWholesale.com(18" x 24") that say "Tour at YourDomain.com" set up in the yard so when a car stops in the road they can write your domain down.....and NO not sign riders.....standalone sign will double the results.  Also be sure to order the thicker guage "H" frames.

3) Video is simple....we have 100+ cameras out there plus other agents that use their own, and if an agent can shoot a still photo then they can video pan a series of rooms and do a short walk between each .....either edit yourself or send to us and we can edit. The video is on an SD card just like a photo would be in a single file i.e. we tell our agents to never stop the camera so that they just upload a single file and we will cut the garbage footage out and make a finished product from whatever they send.....just capture the footage and upload a single file.  Can't get much simpler than that....in fact simpler than shooting 15 photos.  Our team here has produced 1000's of tours over an 8 year period so we will work one on one with every agent regardless of tech savvy'ness to be sure that they can use video successfully in their market.

Mark Passerby, POVvideoTours.com
10:13pm • #4
135,320 Points 17 Featured Posts

Mark: Your particular RE/MAX office is an exception - your doing a good job of selling them for sure!

I just did a quick search on Realtor.com for Lansing Michigan.  2100 listings.  180 had a featured tour of ANY kind (that's not even 10 percent).  Very few were video - most were VisualTours. Maybe your RE/MAX doesn't work with Realtor.com, but considering that is the #1 real estate site in the country, it's pretty representative.

I'd love for video to be the norm...    ain't gonna happen anytime soon.  As far as I'm concerned, we still need to work on 80% of the realtors to enable them to take decent still photographs.  We're not even there yet.
11:11pm • #5

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Steve Schwartz, Charlotte's Premier Real Estate Videographer and Photographer

Charlotte, NC

More about me…

AmazingVideoTours.com

Office Phone: (704) 288-5705

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My blog's purpose is to educate and raise awareness about the power of full motion video as a means to sell real estate. It's also a wonderful place to showcase my Realtor Client's Listings.

Beyond that, I have many interests including real estate, photography, Social Media, the Economy, the Stock Market, SEO, online marketing, music, ActiveRain, and many other interests and may blog about them when something interesting hits me.

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