A picture may be worth a thousand words, but a video is even more valuable, especially when it comes to real estate. In fact, real estate property listings that include at least one video get 400 per cent more inquiries, according to Rechat.
This digital practice rose to prominence during the pandemic when property walk-throughs and open houses were forced to go virtual but has remained relevant as the popularity of online video continues to rise. A November 2022 survey from Wyzowl shows that the average person spends 17 hours a week watching videos on the internet, up from 10.5 hours in 2018.
Retail brands have already capitalized on this trend quite successfully. Nearly 90 per cent of surveyed consumers said that watching a video convinced them to purchase a product, and 51 per cent said they’re more likely to share a video with friends than any other type of online content.
The popularity of videos is undisputed, but how can real estate agents take it a step further? Rather than including generic videos in listings, real estate agents can be more proactive by sending personalized video messages to potential buyers.
Here are a few important junctures of the real estate process that benefit from video.
Introduction videos
The first step in any business interaction is introducing yourself and clearly stating your objectives. Doing that on video before meeting in person (or in lieu of an in-person meeting) is a great way to connect with potential buyers and allow them to put a face to a name.
Personalized videos show how an agent listens and responds to a buyer’s needs. After receiving the intro video, potential clients can respond and tell agents exactly what they’re looking for in their next home. Responding like this, rather than answering questions on an online form or communicating via email, introduces a human element into the interaction that further personalizes the process.
Even before an introduction, agents can use video messaging in their marketing and sales outreach — just like retailers, traditional product companies, and other service providers do. Video marketing is a customer-friendly technique that the majority of consumers say they want to see more of in 2023.
The most forward-thinking agents will jump on that bandwagon.
Property walk-around videos
The most common way to leverage video in the real estate business is to film a property walk-around. This type of video is the next best thing to an in-person viewing, as it allows agents to point out details that may not be obvious in pictures. Furthermore, this medium gives agents the opportunity to tailor their videos to highlight what is most important to a particular client. Agents can open closets to emphasize how much storage space a property has, get up close and personal with original woodworking details, zoom in on updated fixtures and features in the bathroom or kitchen, and so much more.
Video walkthroughs are also particularly useful for clients moving to a new province or city who don’t have time to make multiple trips for open houses or property tours. To further inform out-of-town buyers, agents can take videos of the immediate property, neighbourhood and aspects of the city the buyer may be moving to. Though less common than video home tours, this type of video gives buyers a better feel for the area they’re moving to.
Agents who use video can give a more nuanced view of a city, such as its schools, transportation and local attractions — all of which are important in the selling process and have a significant impact on a property’s value.
Testimonials
While email campaigns and agents’ input are important aspects of making a sale, hearing from a satisfied third party relays an even more persuasive message. Written testimonials are nice to have, but in the modern era, a video testimonial is much more valuable. Watching a genuine review from a previous client gives a testimonial authenticity and increases its credibility.
The value of a video testimonial goes beyond its initial emotional impact. According to Hubspot, websites see a search engine boost when they add video because it increases page quality and the time visitors spend on the page.
So, since video content helps improve SEO, video testimonials can help drive traffic to an agent’s website. Video can also increase social shares, convert prospects into clients and build trust with potential as well as current clients.
Similar to testimonials, when a sale is made, agents can send personalized “thank you” videos to buyers. This after-the-fact contact helps build meaningful relationships, so if the buyer ever moves again, the agent will be top of mind. And these buyers can also provide testimonials in the future.
Buyers love personalization, and video content allows real estate agents to take advantage of that with potential customers. From driving traffic to an agent’s website to dramatically increasing inquiries, personalized video content in the real estate industry is powerful and valuable.
To reap the benefits of video in the modern buying world, agents should endeavour to include personalized video content in their client outreach strategies.
Margaret is the Director of Marketing at Covideo, a video messaging platform for businesses. Her extensive sales background and affinity for public speaking enable Margaret to help organizations use video to elevate storytelling, build personal branding and develop winning sales strategies. She is a graduate of Butler University.
