My favorite research report has given me some valuable insight. The NAR and Google study, "The Digital House Hunt" states that 86% of buyers who use online video use it to gather information about a specific community, whereas only 70% of them use video to tour the inside of a home.
Here's my response to that!
Here is the challenge: Video takes a lot of time, money, capital, and experience to produce a quality product. Then it takes a completely different skillset to get it found, generate leads, and make it profitable.
Not only does it cost a lot, video can take away valuable time and money from other activities and investments that you already know how to use to consistently generate a return. I think this is why the real estate industry as a whole has not adopted video on a level that is anywhere near its potential. It is a dramatically different skillset than real estate, and it is also a different skillset than search engine marketing and lead generation.
Let me give you a few tips to help you decide of video will be an asset or a liability to your business.
First and foremost, YOUR VIDEOS MUST BE GOOD! just placing some pictures in a video player and dropping a soundtrack behind it is creating spam. It doesn't provide any value to the viewer, and Google's algorithms know when a video isn't good because nobody will watch it from beginning to end. The goal with video is to provide a more valuable resource than any other medium, and calling slideshows video will not generate a return, it will just waste your time and annoy viewers.
Second, it takes a real commitment. You can't just make a couple, shrug your shoulders and move on to the next thing. Video production must become part of your daily tasks. If you can't commit yourself to proactively producing valuable, informative videos, then several bad videos or just a few good ones will do you little to no good.
Finally, if you can't find a passion for your business's video production tasks, then your time and energy will be more valuable focused on the things that you know will generate a return.
So the takeaway is that video is valuable and important for generating business, but only if it provides value and maintains your viewers' attention. If you are interested in integrating video into your real estate business, you must commit and stick with it. If you don't enjoy video production and value the new and different returns it can generate, then stick with what you are good at because it will only take time and energy away from the things that will pay the bills.
If you think video is an element that you want to integrate into your business, then there is no better time than immediately. Every day that passes will make it harder to catch up to your competition.
I hope everyone has an amazing end to 2013, Happy Holidays!
Let me know what you guys think about my article!
More Use Video To Research Communities Than Tour Homes