To V, or NOT to V? (Video)

By
Real Estate Broker/Owner with MyH-O-M-E.com Real Estate 303 589 3001

Several years ago, I was of the opinion that the more information I provided regarding my listings the more activity would be generated for my sellers.  I painstakingly wrote lengthy descriptions, took flattering photos and hired professional videographers to capture every nook and cranny of my subject listings, and while all of this was impressive to my sellers, my listings were not receiving the sort of traffic that was expected and DOM for my listings exceeded the averages despite competitive pricing.

Good Lessons From an Interesting Economy

I have a hard time labelling anything as being "bad" or "good," so we'll just say that the economy from which we are emerging was certainly interesting.  As closings were diminished, I think that we all have had to make adjustments to our businesses in order to survive.  Those of us who have made it have learned valuable lessons in streamlining the way we go to market, and one decision that I made was to eliminate the virtual tour from my listing package.  By doing so, I thought that I would risk a further reduction in traffic in a market that craved buyers, but I just could not afford to spend in the same manner.  I was concerned about losing listing opportunities to competitors and I wondered whether the belt-tightening would make me another industry statistic of underemployed REALTORS.

None of that happened.  What actually occurred, was that the buyer traffic in my new listings exceeded that of my virtual tour listings, and as an experiment, I decided to take down the videos of my older listings and I noticed an improvement in buyer visits. 

Now this isn't scientific data, but I am led to believe that by providing too much information about a property, buyers are satisfied with what they see on-line and form their opinions without asking for a showing.  Similarly, I believe that buyers may be more inclined to put a property on a must see list if the available listing information creates intrigue by not revealing every detail.

I'm very interested in hearing your opinion! 

 

 

Posted by

As a life-long musician, I've had the pleasure of performing with some incredibly talented players and I have assisted many with their Colorado real estate needs. Property transactions are like musical compositions, so let's make music!

Dave Perlowski

303 589 3001

www.myH-O-M-E.com

 

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Rainmaker
1,017,527
Tim Lorenz
TIM LORENZ - Elite Home Sales Team - Mission Viejo, CA
949 874-2247

I believe a home must be seen and felt to have a sale.  Unless it is an investment.

Apr 29, 2013 05:25 AM #1
Rainmaker
664,192
Kathy Stoltman
Rockwood Realty - Ventura, CA
Ventura County Real Estate Consultant 805-746-1793

Dave, I found that some of the videos of the past, so to speak, were too slow for most folks to enjoy.  I think in this insanely fast paced world we live in, most buyers would like to see pictures that they can scroll through.  One can make videos with these pictures and that is what I am seeing more of. But as Tim says, nothing can take the place of an actual visit to the property.

Apr 29, 2013 05:32 AM #2
Rainer
13,040
Dave Perlowski
MyH-O-M-E.com Real Estate 303 589 3001 - Arvada, CO
303 589 3001

I continue to show a lot of pictures, and I believe that they generate a lot of interest.

Apr 29, 2013 05:40 AM #3
Rainmaker
1,521,597
Amanda S. Davidson
Amanda Davidson Real Estate Group Brokered By eXp Realty - Alexandria, VA
Alexandria Virginia Homes For Sale

Dave, I think photos are still king for buyers but, do think the videos bring more love from Google to the agent. Kathy makes a great point that with the fast paced world we live in buyers like to scroll through photos vs. waiting for a video to play.

Apr 29, 2013 08:31 AM #4
Rainer
13,040
Dave Perlowski
MyH-O-M-E.com Real Estate 303 589 3001 - Arvada, CO
303 589 3001

You make a great point, Amanda!  We need to keep in mind that people's internet attention span is less than 30 seconds.  If we can't grab them within that time, they're on to the next listing!

Apr 30, 2013 02:36 AM #5
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Rainer
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Dave Perlowski

303 589 3001
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