Online video increases real estate web site return by whopping 400%

Real Estate Weekly,  March 5, 2008  by Benjamin Wayne

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Today's headlines are filled with news of how the subprime market is impacting housing sales.

At the end of January 2008, the U.S. government reported the biggest drop of new home sales in recorded history.

Now, more than ever, it is crucial for realtors to employ user-generated online video to attract potential buyers to a property and sell in this challenging economy.

When consumers are looking for a new home or commercial space, they are likely to have a clear picture in mind of what they are looking for.

Online video gives visitors the ability to actually see what properties you have to offer, while promoting your brand at the same time. What better way to show a property than to show a video before the visitor ever leaves home?

"Visitors to MyNewPlace (www.mynewplace.com) are presented with many search results." said Amanda Cann, vice president of sales for MyNewPlace. "When our communities offer a video tour, it's much easier for the renter to get a greater sense of the property. Our clients love this feature of our site because it drives more qualified prospective residents to their communities."

It is important to remember these four things when considering online video:

* Embrace New Media: A picture may be worth a thousand words, but the combination of photos, video, and text provided by online videos truly increases revenue and drives site traffic. Visitors are 400 percent more likely to respond to an incentive or call to action when you utilize mediums together, as opposed to text or photos alone.

* Promote You NOT YouTube: Find an online video solution that places your brand front and center. Adding a YouTube video player to your site, which drives visitors back to YouTube, has the reverse effect of driving your brand. In keeping your business top of mind, a video player with your logo and watermark is most effective; and will ultimately elevate your ability to sell in this challenging economy. The viral nature of video also allows visitors to embed, permalink, and share videos--driving traffic to your site.

* To Be Big, Look Big Online: If you are a small company or individual, the key in online competition is to look large, and one of the best ways to do that is by having online video. Previously smaller companies were left out of the online video market, because providers required advertising or a certain number of visitors. Today, no Web site is left behind when it comes to the ability to show your visitors desirable properties, because there are online video technologies have no advertising or viewer requirements.

* Select an Easy-To-Use Technology: What good is a new technology or Web site component, if you cannot use it? Make sure that uploading videos to your Web site is something you could do in your sleep. Leave the technology to the professionals; you have better things to do with your time!

"In the real estate business, every little bit helps," said Todd Bream, president of 624Home.com in Palm Beach, Florida. "The return on our investment in online video has been evident, and I would encourage any small business owner to look into it. For many consumers, when they start looking at the available options can be staggering and overwhelming. Video makes it easy to quickly filter the numerous property choices that are provided."

According to the comScore Video Metrix report for November 2007 more than 75 percent of U.S. Internet users watched an average of 3.25 hours of video during the month.

Today more and more people are going online and when they look for real estate properties; your Web site is usually their first stop. Online video is a crucial tool in your arsenal of marketing tactics.

Success in a challenging economy can be difficult, but by upgrading your online presence you will be a step above the competition. Make sure the product you select is customized for your needs and is something that is easy to use and cost-effective.

BY BENJAMIN WAYNE, CEO,

FLIQZ

COPYRIGHT 2008 Hagedorn Publication
COPYRIGHT 2008 Gale, Cengage Learning