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Real Estate video is NOT the consumer choice

By Obeoman Glade Jones

Services for Real Estate Pros with www.obeo.com

December 05, 2007 12:25 AM

I hope this real estate video works...hope the lighting is ok...it costs a lot... where does it go?...who is seeing it?...how does this really work?

...all great questions to ask before you dive into RE video.

(clipart courtesy of clipartheaven.com)

Sellsius offers up a late serving of turkey with a video from Brian Copeland , a Realtor in Nashville. (His blog, Nashville and Beyond, has decent content and some pretty funny and fun things things to know about the area.)

Even though the market forces have virtual tours as the leading form of RE marketing-over a million buyers a month visit Obeo-once more we have to hear how RE web video is the way to go.

My reply at Sellsius:

Brian,

Virtual tours are the most widely used form of web RE marketing; this is what the consumer wants because this is where the consumer money is being spent.

Video tours do not work for most listings because:

-Video tours are not aggregated or distributed effectively on the web.
-Video tours lack visual quality: most RE video is poor to average.
-Video tours are not cost effective for most listings.

Obeoman
steven.stearns@obeo.com

Virtual tours are the leading form of marketing properties on the web:
Sellers list with Realtors who sell,and Realtors who sell are using millions-perhaps billions, worldwide - virtual tours to market listings.

Because it is cost and labor intensive, RE web video remains a niche tool for luxury listings, unique locations and as a marketing tool for funny, charismatic or extremely dynamic Relators or agencies.

By the way, keep an eye on the blog here - in the coming weeks, Obeo will be showing you why virtual tours are and will remain the best way to market any property on line or anywhere. How buyers love virtual tours, and sellers love them, too.

Buyers want to own their home when they see it on line.

Obeo will help them do that, and more.

I gotta go sell something!

Obeoman

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"JT" Prevatte

Former Agent - Fayetteville, NC

We had one of our agents in the office do something along the lines of this. Don't know exactly what it was for as I was just late in the office and noticed a guy walking around with the camera. From what I understand it was BIG BUCKS for this.

I agree with you. NOTHING beats getting out and shaking hands and meeting people.

Somtimes I think (and I am probably guilty of this) we as agents get a little to techy and forget the the rest of the world might not operate that way.

Sometimes the best methods ar ethe simple ones.

Dec 05, 2007 12:33 AM

Matthew Zgonc

Aksland Real Estate - Modesto, CA

Realtor, CFS, CVS

I love virtual tours of homes. I don't know about video, though. Haven't seen one yet.

Dec 05, 2007 01:37 AM

Jessica Horton Jessica Horton Realty

Jessica Horton - Jessica Horton & Associates - Griffin, GA

Jessica Horton: I'm not #1... You Are!

Steve:

You know that I like you a lot but it seems that you are trying to pimp your company by speaking for all consumers. I don't think that Obeo can do that. Granted, you guys are an awesome company and right on the cutting edge! I know that you guys have a motto about understanding buyer behavior but I seriously doubt that you can speak for all of them.

Both concepts have their place in todays online real estate market. Sell your FFB (feature, function benefit) without putting the other down. Just my 2 Cents....

Dec 05, 2007 02:05 AM

Obeoman Glade Jones

www.obeo.com - Salt Lake City, UT

Jessica - of course, no one can speak for all consumers, but consumers do speak with their dollars in the marketplace. They spend most of their money buying virtual tours, not on RE video.

Thanks for knowing about our product and its value-It isn't for everybody, and in a diverse marketplace, there will always be competition.

My view has always been there is a niche for RE video, for luxury properties, unique lications and getting a sense of place about a community.

For most of the properties on the market, RE video still has too many technical shortcomings and is too expensive.

Thanks for stopping by!

Steve

Dec 05, 2007 06:06 AM

Fred Light

| Nashua Video Tours - Nashua, NH

Real Estate Video Tours for MA and NH

I think you mean that video is not the realtor's choice. Many realtors don't use them because they don't want to spend the money for marketing a home.

It's definitely the customer's choice. They LOVE video. Ask any customer. In fact, I've never known of a realtor client that has shown a video tour on a listing appointment that did NOT get the listing. Not one. Customers love video. It's realtors who are indifferent. I do many videos for sellers who are dissatisfied with their realtors [lack of] marketing. They call me and personally PAY for the video and give it to the agent to use in their marketing.

If you actually speak to sellers, video IS the consumer's choice. No question.

Dec 05, 2007 12:31 PM

Anonymous

Obeoman

Fred,

Thanks for stopping by my blog and discussing why Virtual Tours lead the market share of consumer money -and on line marketing preference-over RE Video.

Looking at your website, I noticed the first item on your price list is a still Virtual Tour.

Consumers are people who spend the money; it does not matter if they are Realtors or Sellers. Obviously, the Sellers and Realtors are driving the market for Virtual Tours,.

My view has always been there is a niche for RE video, for luxury properties, unique locations and getting a sense of place about a community. Some of your videos do this quite well; and the overall technical quality of your videos is average to above average.

For most of the properties on the market, RE video still has too many technical shortcomings and is too expensive. RE video is not a DIY option for the vast majority of Realtors, who understand the consumer does not want bad images and a bad consumer experience.

And largest problem is not the cost, complexity or poor to average visual quality of most RE video.

RE video is not effectively aggregated or distributed on the web for marketing purposes. There is already a general thumbs-down on the hogpile at YouTube, and several web video/RE Video sites recently announced they are no longer taking any more user generated content.

Marketing should never confuse achievement with activity.

Steve Stearns

http://obeoman.blogspot.com

Dec 06, 2007 02:32 AM

Frank Jewett

tech4REpros - San Jose, CA

Steve, maybe if you started an MLM more people would be touting your technology. ;)

14,000 VMDirect affiliates and 12,000 VMDirect customers (most of whom are likely affiliates) can't be wrong... right?

SOURCE: http://sec.edgar-online.com/2007/03/16/0001140361-07-005839/Section10.asp

There's something wrong with a business model that has an affiliate to customer ratio near (below) 1 to 1. How much residual income could an affiliate make from 1 customer? $5 per month? Think of all the things you could do with that money!!!

Dec 06, 2007 03:04 AM

Fred Light

| Nashua Video Tours - Nashua, NH

Real Estate Video Tours for MA and NH

Steve:

Yes, I offer still photography as well. Nobody ever said that video would supplant still photography. That will never go away.

The definition of VIRTUAL tour is a tour of the house that is not REAL. Video, photos, spin around tours.... they're ALL 'virtual tours'.

There is nothing wrong or negative about panoramic tours, photo slideshows, etc. Obeo does some nice average to above average slideshows and panoramas.

Video is aggregated and distributed far more than most virtual tours. Where can you put a typical java based virtual tour? On the MLS, on Realtor.com? That's about it.

The general thumbs down on the "hogpile at YouTube"? YouTube has more traffic than MSN Search. It's one of the most visited websites on the entire internet. YouTube is a problem because Obeo tours can't be promoted there, but other than that, I think there is hardly a general "thumbs down". Just your thumb.

YouTube is one of the most visited websites online. Video is one of the hottest technologies online.

Again, the title of your post is:

Real Estate video is NOT the consumer choice

And I truly believe if you ask real live customers, you would find video is far and away the #1 choice.

However, it's an easy statement to make when you don't DO video.....

There's room for all sorts of marketing online. Bashing everything that isn't OBEO isn't a great way to endear yourself to future clients... It comes across as being very arrogant.

Dec 06, 2007 03:58 AM

Frank Jewett

tech4REpros - San Jose, CA

Fred, you are right that video is simply another type of virtual tour. Steve is also right when he points out that video quality is not comparable to other internet media at this point. Perhaps that will change.

At this point a good challenge would be to see who can come up with actual data on the popularity of video with consumers. You've accused Steve of posturing, but "I truly believe" is simply posturing on your part.

And falling back on the popularity of YouTube is a canard because YouTube didn't grow their audience based on virtual property tours. In fact they may have banned them which shows how little that segment means to their success.

I will say that a friend of mine listed a property with a particular brokerage because they produced a TV show about her property. The show was broadcast through traditional means (high quality) as opposed to the internet (lower quality), so there is some evidence that using broadcast video will impress sellers.

As for what consumers (and buyers) prefer, let's see some actual data from a nuetral third party source like NAR or C.A.R. instead of the back and forth "my opinion/I truly believe" posturing.

Thanks!

Frank Jewett

Dec 06, 2007 04:20 AM

Anonymous

Obeoman

Fred, Frank,

I don't think anybody here is being arrogant. And since we are having a good discussion here, I will summarize in points:

-Over 1,000,000 visitors-read that buyers-come to Obeo each month. Our closest competitor does not get half that many buyers visiting. Source: Quantcast.com

-There is an acitve and open niche market for RE video marketing.

-As we have all touched on, there does not seem to be any data right now on how effective RE video marketing is at the whole market level. There is a definite need for some third party to do a study, etc.

-Any marketing or technology platform has its limitations.

-Consumers vote with their dollars and their preference is Virtual Panoramic/Still PhotoTours based on the market share of our company and other companies offering photo tours.

...and there is always room for more discussion!

Thanks,

Steve

Dec 07, 2007 01:34 AM

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