Brokerage Branded Market Videos
At Inman Next, there is an article by Chris titled “The Real Estate Market Data revolution will be televised“. Give it a read and watch the video embedded below:
I’m a skeptic of the effectiveness of videos such as this one produced by Terradatum.
Will some people watch and get value from them? Sure. Is it cool that they are driven off MLS data and updated monthly automatically? Absolutely.
But people watch video because it’s personal. At least that’s why I watch video. And I don’t think I’m alone.
Terradatum’s Market Analysis Videos are not personal. They are bland and boring. They will not help your brokerage become a local market expert.
This is just the latest shiny object (yourealty?) in my mind.
This might be one where Chris and I have to agree to disagree.
If I’m missing something, please let me know. I’m all ears.
Patrick Hake
Posted at 08:56h, 29 AugustI could see using this as filler on a website, but not as an actual video blogging strategy. Just one more thing to add thickness to the site.
i do something very similar each month, but instead of giving graphical representations of the data, I film myself giving a synopsis of the monthly data for the county.
As you stated, filming myself gives the site and our statistics update a more personal feel.
I can see how something less personal might work better for large brokerage sites, being that they are trying to build the companies image, not just one particular agent’s image.
However, I don’t think it would give as much benefit as it is being touted to give.
As you stated, it is a nice shiny object.
It is not a bad idea, but it is also not ground breaking or game changing either.
Ben Goheen
Posted at 15:42h, 29 AugustAbsolutely agree with you on this, so do other agents since there are no comments on Inman or TSA. And why did they decide the “end of the world” music was appropriate for the promo video?
I see small or mid side brokers using this tool on their site, but like you said it’s not personal. Agents sitting in front of a camera reading market condition numbers – I find that equally as boring.
Drew Meyers
Posted at 15:50h, 29 AugustI don’t see much value at all in these videos, even for the small brokerage. It’s really not that hard to get in front of the camera and talk about the market for 3 minutes. Unless you don’t know a damn thing about your local market.
Ben Goheen
Posted at 22:52h, 29 AugustIt’s not hard, but still extremely boring to watch. I also see little value to these videos but think some small brokerages will latch on because it’s the new “shiny object.”
mauirealestatesearch
Posted at 02:11h, 01 SeptemberI disagree. You are suggesting that consumers want to see an agent spew facts about the real estate market for 3 minutes? I know I (as a consumer across any industry) would bounce after a few seconds. I prefer a professionally-produced video that delivers what I want – the facts – in a visual format.
Drew Meyers
Posted at 22:01h, 02 SeptemberIt’s just personal preference. The same thing doesn’t resonate with everyone.
Sam DeBord, SeattleHome.com
Posted at 07:22h, 30 AugustHave to agree on the music–it’s called overselling. You’re underwhelmed by the time you actually see the product.
Paul Morgan
Posted at 05:18h, 30 AugustI agree on its own the video is not great, even off putting to potential vendors.
However, I think these could be great for Vendors if combined with data about their property.
For example,
Part 1: Average prices are falling in your area as people try to sell before the end of summer (same as current video)
Part 2: [compare] of the 10 new houses in the area around your property that were added new to the market in the last month, three of these have similar sized plots/beds to your property and are in the same price range.
The average number of online views per property in your area was 17 hits per day. Your property is currently averaging 12 hits per day.
Part 3: I suggest your marketing strategy for now is…hold the price, but let’s keep an eye on the on-line activity, and let’s see if interest in these 3 new houses generates knock-on interest in your property.
Sam DeBord, SeattleHome.com
Posted at 07:21h, 30 AugustThis strikes me as a tool to keep current prospects in the fold. Once their market has been identified, they can get regular updates on that market with these videos via email. It might be less effective for new website visitors.
mauirealestatesearch
Posted at 02:07h, 01 SeptemberHow personal do you suggest the video to be, Drew? For a consumer interested in local real estate statistics, it’s about presenting data in a format that they can easily digest – not about how ‘personable’ an agent is on a video (that’s the kind of used-car salesman mentality that plagues the industry)
Personally I think this is a great ‘set and forget’ video implementation that delivers a phenomenal product that consumers want. At the end of the day, the purpose of a real estate agent’s/brokerage’s site is to provide consumers with a superior user experience. Then again, my perspective is that of an agent actively selling, not that of a real estate tech vendor.
Drew Meyers
Posted at 22:07h, 02 SeptemberI don’t think Set it and forget it products are a good strategy for any business. any agent can put up a generic automated video like this without knowing a lick about the local market. I want to see the agent and make sure he/she appears to know something unique.
mauirealestatesearch
Posted at 00:54h, 03 SeptemberI don’t see how a consumer could possibly know that the videos are automated. Fact is, for the majority of markets only a small handful (and in many cases, only one) of brokerages will be using this service, so for the consumer it will be unique and present a different value proposition.
Although I agree that a ‘set and forget’ strategies are typically flawed with laziness and inaccuracies, for the sake of time management and providing unique, relevant content, this particular product does extremely well and is as accurate as anything else could possibly be (data is pulled directly from the appropriate local board)
We talk about offering a unique value proposition that will get people to register/sign up, how about a monthly updated video analysis of the niche market consumers are interested in? Sounds like a pretty good carrot to me.
Disclaimer: I am not and probably will not be a consumer of Terradatum based on their pricing model, but I can certainly see how brokerages can benefit from this.
Drew Meyers
Posted at 02:45h, 03 SeptemberI’m not saying there is no value here. I’m just saying this isn’t the type of thing that would be valuable to me because it tells me nothing about an agent’s local knowledge.
mauirealestatesearch
Posted at 03:53h, 03 SeptemberFair enough, we can agree to disagree.
Besides quizzing an agent in person to ensure their level of local knowledge of suitable for your needs, I don’t see how anything on a website can be a substitute to that (content can be created by someone else, videos can be rehearsed, etc.).
Drew Meyers
Posted at 12:55h, 03 SeptemberI want to do business with someone I can relate to on some level. One video probably wouldn’t accomplish it, but someone who did regular monthly market videos demonstrating their knowledge could convince me that over time.
Drew Meyers
Posted at 22:09h, 02 SeptemberAnd note I’m not a tech vendor anymore. I no longer work for virtual results. So I’m just a techie with lots of opinions
Greg Fischer
Posted at 20:05h, 01 SeptemberI agree Drew. This being hailed as a “revolution” is far from accurate. The videos are great in the context that they are easily sortable by city and provide accurate info from the MLS. Beyond that, I dont see any sort of revolution here. However, this tool will get utilized, especially by large brokerages.
Sure, a one can set it and forget it on their site. Works in that regard. I’d be curious to hear consumer testimony on it. I would think to them, it looks like any other market stat video.
I noticed this is filed under “shiny object”
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