iViewProperty - Video In The Property Market

Video or VR? What works for Estate Agents?

simon@iviewproperty.tv (Simon Thomas) — Tue, 10 Jan 2023 09:22:36 GMT

"A video tour of a property will reach a wider audience "

As an estate agent, you have a variety of tools at your disposal for marketing and promoting properties to potential buyers. One of the most popular options is video, which allows you to give viewers a virtual tour of the property whenever & wherever they are. But what about virtual reality (VR)? While VR can be a powerful tool for certain types of marketing, there are several reasons why video is generally a better option for promoting residential property.

First and foremost, video is easier for most people to view than VR content, which requires specialised equipment such as a VR headset to appreciate properly. Video is also more widely compatible with a variety of platforms, and can be easily shared on social media, websites, and email, while VR content is generally more limited in terms of compatibility (how often have you seen VR on Facebook or Twitter - the people who know most about engaging consumers?) This all means that a video tour of a property will reach a wider audience than a VR tour.

One of the key benefits of video for estate agents is the ability to cost effectively outsource production to a professional company. This allows you to create and maintain a professional image for your business, whilst also be a more time-efficient option. Producing a video tour can be a time-consuming process if you are not familiar with filming & production techniques. By outsourcing to a professional company, you can save time and focus on key aspects of your business (like winning instructions & selling homes!) while the experts handle the video production.

Overall, video is a powerful and cost-effective tool for estate agents looking to promote residential property. By outsourcing recording to a professional company, you can ensure that your video tours are high quality, consistent with your brand, and time-efficient. So if you're looking to take your real estate marketing to the next level, video is the obvious tool to build into your strategy.

The market is off to a stronger start to 2023 than expected

simon@iviewproperty.tv (Simon Thomas) — Fri, 06 Jan 2023 17:58:50 GMT

Proactive estate agency is key to securing a sale

As we start the new year, it's natural to wonder what the future holds for the UK property market. While it's true that there may not be as many buyers as there were last year, it's important to keep things in perspective. According to one estate agent we spoke to today, homes are still receiving multiple offers and there are more homes coming to market than expected.

This is good news for homeowners looking to sell, as it suggests that demand for property is still strong. While it's important to be realistic about pricing, it's also important to remember that every market is different and there are always buyers looking for the right home at the right price.

One thing our contact emphasised is the importance of being proactive and taking a dynamic approach to marketing your home. This includes things like staging the home to make it more attractive to buyers, pricing it appropriately, and showcasing it using engaging marketing tools (video tour, anyone?). This can be especially important in a market with fewer buyers, as you want to make sure your home stands out from the competition.

Overall, while there may be some challenges in the UK property market this year, it's important to keep things in perspective and remember that there are still opportunities for homeowners looking to sell. By being proactive and working with a skilled estate agent, you can increase your chances of a successful sale.

What To Do About Christmas Decorations?

simon@iviewproperty.tv (Simon Thomas) — Tue, 22 Nov 2022 11:08:20 GMT

Don't let the fairy lights lose you listings!

Nobody wants their property listing dated by Christmas decorations or other seasonal giveaways, so how can you keep new instructions flowing in the lead up to Santa’s visit?

A well decorated home can look lovely in the days & weeks before & shortly after the big day, so the tinsel only really becomes a problem if no sale is agreed as January progresses. To get over the issue we’re implementing our January refresh again this year, when any festive homes we film or photograph during December can get a free refresh if they’re still on the market 3 weeks into January.

How will this work in practice?

Reassure any vendors you speak to in December that, in the unlikely event you don’t generate a timely sale for them, you’ll arrange for a marketing refresh, including new photos and/or a video tour once the decorations are back in storage and the January market starts to develop.
Continue listing properties throughout December, including arranging for us to film & photograph them
If any of your December listed properties remain unsold after 20th January, get in touch & we’ll arrange a new visit and update your video/photos without further charge

Send any orders over in the usual way, or email justask@iviewproperty.tv or give us a call if you're thinking of trying us out for the first time.

Why The Pace Of Your Property Videos Is Important

simon@iviewproperty.tv (Simon Thomas) — Wed, 17 Mar 2021 11:44:43 GMT

Audience Engagement is Critical (Part 2 - Pace is Important)

If you've read part 1 of this blog you'll be aware that the people who know most about consumer engagement (social media companies like Facebook & Twitter) are increasing their use of video because they've found it's what we like to watch and engage with, and what your local market prefers. So you should be using video to market your properties, but what should you consider when filming your own, or looking for a supplier to produce video tours that buyers will watch?

As in part 1, we keep coming back to engagement - will potential buyers watch (enough of) your video? Too slow/long and viewers will very quickly switch off (we’re much less patient than we used to be). On the other hand, your video has got to show enough of the property so that they have a good ‘feel’ for it, and can decide whether they want to move on to the next stage & arrange to visit the property with you. Spending more time focusing on important areas whilst moving more quickly in the hall or going up the stairs etc. is generally a good rule.

The next point to consider is more complex. You want the video to be ‘easy’ for the viewer to watch. You might ask how hard can watching a video tour really be? But if you feel like you’re about to walk into walls whilst swinging left & right, and permanently looking at the floor, as is the case with many DIY property videos, you’ll see what we mean. Filming watchable property videos is a skill that must be developed over time.

How will you know if viewers are finding your videos engaging?

The best way to check is looking at the average viewing time for each video … how long are people watching for? It’s easy to find this on hosting platforms like Vimeo & YouTube, but what sort of figure should you expect?

Around 75% is a good target - much less than that is a sign that viewers are switching off too early. Assuming that you’re distributing your videos via the right channels … your website / property platforms / to your matched applicants list etc. you should really be getting close to this figure. (It’s worth uploading video tours to social channels too, but those aren’t targeted views, so don’t expect the same average watch time).

It is possible for estate agents to film video tours to a standard that viewers will watch, but for many it’s a skill that takes too long to master in the first place, and too much out of your day to film/edit/distribute etc, when you should be winning instructions & selling homes.

Property Marketing Media - Video Or VR?

simon@iviewproperty.tv (Simon Thomas) — Thu, 11 Mar 2021 12:57:55 GMT

Audience Engagement is Critical (Part 1 - What Do The Pros Prefer?)

Video Tours have been increasingly popular over the last few years, but the Covid pandemic last year placed far greater focus on them, with benefits extending to include practical & operational factors in addition to the marketing value for both estate agent & vendor. Estate agents have had to find ways to offer video, or other virtual viewing options, with 2 main options available:

1) Video tours are tried and tested, but must be filmed in a way that engages and encourages the viewer to watch all the way through the property

2) Virtual Reality (VR) or 360˚ photography is the other solution available. It’s great tech, which we tested a few years ago before deciding that video is the better option. Things have moved on & improved since then, but whilst VR is fantastic technology in the right situation, it doesn’t work well in residential property for 2 reasons:

a) It’s hard work for the viewer. Looking at technology from the end user’s point of view is always a good idea! The trouble with VR when looking through a potential new home is that it’s very easy to get ‘lost’! You don’t always know where you’ve been & where you should go next once you’ve seen each room, and having to click on the next hotspot doesn’t always give you the result you want.

Compare the experience with sitting back and pressing ‘play’ on a video tour & you’ll see that video offers a far easier experience for the viewer.

b) As mentioned above, property media must engage the viewer - if people don’t watch it then what’s the point? If you think who knows more than anyone about engaging consumers, it’s the social media companies like Facebook, Instagram & Twitter etc. Have a look through these feeds on your own accounts … how much of their content is VR, compared to video?

You rarely see VR on social media, as they know that consumers don’t engage with it. Either we’re not ready for it (we don’t generally have a VR headset to hand!) or we just don’t want it for some other reason. Social media companies have adopted video as their preferred media type, and for marketing purposes, if you want to engage your market, you should too.

That's not to say that there's no place for VR in residential property marketing, but you need to consider which tool to use for the goals you're trying to achieve. Once someone has decided on a property, or narrowed their options down to a couple of homes, 360˚ imagery is a great tool that allows the viewer to study the property in depth ... look at room sizes & work out whether their furniture will fit. It's a neat solution to be able to offer, but expensive & time consuming when you consider that these viewers are already sold on what you're showing them.

In part 2 of this blog we'll look at the points to consider in order to produce an engaging video, that viewers will enjoy and that will represent your business in a professional way

Property Video In Action

simon@iviewproperty.tv (Simon Thomas) — Fri, 19 Feb 2021 11:12:27 GMT

Weekly Promo Videos For Clients

Video is all about marketing ... both for individual properties and your estate agency business as a whole. Video tours are proven to get better results for your vendors, so it's no wonder that more homeowners prefer to use an agent who offers the service. Making potential clients aware of the benefits further enhances your chances of winning those new instructions, so we're introducing new weekly results videos, free for clients, to highlight successful sales.

Designed for social media, they provide regular content that gives viewers another reason to choose your estate agency ahead of the competition:

337% Increase In Video Gives Prepared Estate Agents An Advantage

simon@iviewproperty.tv (Simon Thomas) — Mon, 16 Nov 2020 10:11:17 GMT

Video Viewings Have Become Mainstream With The Public

Andrews Property Group Group Chief Executive, David Westgate has published figures showing viewings were up 6.5% in October vs. September, and that a third of viewings were conducted virtually (https://thenegotiator.co.uk/third-of-of-sales-viewings-are-now-online-says-leading-estate-agency/ ). Our own figures (for online viewings only) also show a small increase for the month (up 2.3%), but what is remarkable is the comparison against the same month last year.

2020 has been the year that the property industry embraced video, for obvious reasons, but the extent to which habits have changed might surprise many. Views of our video tours in October this year are 337% higher than the same month last year which, as you can see, follows the trend started back in March.

Perhaps even more surprising, is that there's still a relatively small percentage of estate agents offering video/virtual viewings. The demand from the public is clearly there, and continues to grow, so agents with the capability to offer quality video have a clear advantage when it comes to winning instructions & then marketing those homes.

September 2020 at iViewProperty

Wed, 07 Oct 2020 13:07:26 GMT

2020 - Property Video Is Coming Of Age

A slight dip in the numbers from August, but September's viewing figures are still about 4 times higher than the same month last year. The focus on video as a result of the Covid situation continues, but estate agents are now seeing the marketing benefits, rather than just relying on virtual viewings as a tool to show homes during lockdown.

Here's the month in numbers as we've experienced it here at iViewProperty:

142

Properties filmed

38,189

Unique video views

79%

Average watch time

25,234

Smartphone views (the most popular device)

46 Days, 2 hours & 41 minutes

The total time spent watching iViewProperty Video Tours

16,457

Unique viewers

Property Portals Wake Up To Video

Tue, 06 Oct 2020 17:09:33 GMT

Incredible Growth For Property Video This Year

Video tours have been part of property marketing for years now (we started producing ours in 2011), but the lockdown & ongoing social distancing restrictions of 2020 have focussed far more attention on the importance of video for estate agents and home hunters alike. The main property portals have recognised the consumer demand, and placed greater emphasis on video content over the past few months, so let's have a look at what they've each been doing.

Rightmove

Having previously only provided access to property videos on their website, in April this year they quietly added functionality allowing users to view video & virtual tours to their mobile app . They then started advising home hunters on how to continue their property search with virtual viewings , and showed estate agents how to share video to each listing .

OnThe Market

Over the summer, as the market heated up, OnThe Market produced their ' Agent's Guide To Video Viewings ' and used social media to promote the tool

Zoopla

Having seen how properties with video were generating more interest, allowing them to send more leads to their estate agent clients, the portals started to provide tools that highlighted video content where it was available for each property.

Zoopla Advantage, where Zoopla shares knowledge and advice with their estate agency partners, explained how their clients could add "Virtual Tour Available" prominently to each relevant listing to attract more attention, and highlighted the significant increase in virtual viewings that they'd witnessed .

Results

So has this increased focus resulted in greater awareness, with more people watching property video tours? We've seen incredible growth in our own viewing statistics, with a more than 4-fold growth in views of our videos, and almost 23 times as many people watching them, when comparing August this year to the same period last year.

August 2020 at iViewProperty

Wed, 02 Sep 2020 07:49:27 GMT

2020 Continues To Surprise

The incredible market we've seen since the Covid lockdown ended has continued apace through what is normally one of our quieter months. August volumes traditionally drop as people take a break & enjoy the school holidays, rather than focus on moving home, but the combination of foreign holidays being cancelled, new lifestyles being considered and the Stamp Duty holiday has led to a much more active period than usual.

Here's the month in numbers as we've experienced it here at iViewProperty:

142

Properties filmed

44,000

Unique video views

78%

Average watch time

28,537

Smartphone views (the most popular device)

50 Days, 19 hours & 26 minutes

The total time spent watching iViewProperty Video Tours

1,332

Views of our most watched video tour (Beetham Tower Penthouse for Savills - see below)

How To Choose Your Estate Agent - Fees

simon@iviewproperty.tv (Simon Thomas) — Tue, 25 Aug 2020 08:10:47 GMT

Make Sure You're Comfortable With Who You're Working With

There are, broadly speaking, 3 main options when choosing who you feel is best placed to sell your home:

Local, independent Estate Agents who are based in & specialise in your area
Corporate high street agents with a branch in your local town
Online only agents who possibly have a 'local expert' covering a large geographic area

We can't tell you who you should use in every case, as there will be good and bad examples of each of the above, but we can offer some guidance on what to look for, particularly if you're thinking about basing your choice primarily on the fee each agent charges. As with most things in life, to a great extent you get what you pay for with estate agents. You don't want to feel you've been overcharged for the service, but think about what your estate agent needs to do to get a result for you before going for the 'cheap' option.

Your agents job includes 3 main elements:

Marketing your property to generate maximum interest (vital to maximise the price you achieve whilst minimising the time your sale takes to complete)
Identifying and negotiating with the right buyer for you, to agree a deal that works for both parties
Progressing your sale through to completion to avoid delays or a fall through, meaning you need to start over again

There’s lots more they do too, but these are pretty important jobs. Think about which agent is best placed to carry out these functions for you:

Marketing - If you’re selecting an agent because they’re cheap, it’s because their marketing isn’t good enough to convince you of the value they deliver. If they can’t market themselves, how can you expect them to market your home effectively?

Also, if their fee is too low they won’t have the budget to produce quality marketing material, even if they knew how to.

Negotiation - If they can’t negotiate a better fee for themselves, how can you expect them to secure the best price for your home? And if they’re not sufficiently incentivised, why will they bother?

Sales Progression - If you’ve paid your fee up front (often the case with low cost agents) why do they need to put the hard work in to progress your sale, when they’ve already got your money? It’s often the hardest part of their job and, done poorly, often results in failed sales.

Thinking you’re saving money by using a low cost agent is very often a false economy. We regularly visit homes for our clients who’ve been appointed after a low cost/pay up front agent has failed to find a buyer - the homeowner has paid their fee and been left disappointed.

Do a bit of research and find out which agents are getting results in your area. Talk to them and ask why they think they’re going to get the best sale for you. Find out how they deal with sales progression and if you’ll have a dedicated point of contact? You’re going to be working with them for several weeks, even if you get a quick sale, so it’s worth deciding who you’ll get on with throughout the process.

After that, choose the agent who uses our video tours!! �� (We’re only half joking here ... estate agents who use us do so because they want to do the best job possible, starting with their marketing. As well as getting you off to the strongest start, it’s also a good indication that they have the same high standards right through to completion of your sale).

Let us know if we can offer any help with your choice of agent and, whoever you use, we wish you the best of luck with your move

How's The Property Market In Sale?

simon@iviewproperty.tv (Simon Thomas) — Sat, 22 Aug 2020 12:11:08 GMT

More New Instructions & Sales Than Expected

How is the property market performing in Sale? August 2020

Like most areas in our region, the Sale market is extremely active right now - agents are both listing and selling more homes than we’d normally expect to see at this time of year, with the post lockdown spike continuing throughout the summer.

Looking at individual properties, viewings are at very strong levels, with virtual video viewings both generating more interest and filtering out unnecessary time wasters when it comes to physical viewings. (Remember Government guidance is still that virtual viewings should be carried out before anyone visits a home).

This 2 bedroom home on Dudley Road in Sale was launched on the market on 17th July by Ashworth Holme , who quickly generated 327 video viewings, resulting in 17 potential buyers arranging to visit in person. Offers started to come in a week after launch (5 in total) on 24th July, and by the 29th the competition to be the new owner resulted in a sale being agreed above the asking price.

Number Of Virtual Viewings More Than Doubles

Tue, 21 Apr 2020 11:31:25 GMT

Lockdown Focuses The Property Industry's Minds On Remote Viewings

The Negotiator reports today on the massive increase in the use of virtual & video viewings being used by estate agents sine the Covid lockdown began. Whilst some agents have hunkered down, seemingly resigned to waiting until it's all over, others have made the most of the simple technology available to continue showing empty homes where possible. Read their full story at https://thenegotiator.co.uk/number-of-virtual-viewings-more-than-doubles-since-lockdown-began/

Not All Doom & Gloom - Video Viewings Are Generating Results

simon@iviewproperty.tv (Simon Thomas) — Wed, 15 Apr 2020 19:12:48 GMT

"We have let 5 properties from video viewings"

Video viewings are taking centre stage in the industry right now, with the Covid restrictions forcing estate & letting agents to adapt. Today's article on Property Industry Eye provides examples of agents agreeing deals across the country, and iViewProperty clients are experiencing the same success.

Poppy Lockwood, Lettings Manager at homes4u explains " We have let 5 properties in the past three weeks from video viewings. I have used mycircletv on one or two as well which is a great tool." homes4u have been using video tours for 4 years, and had already started building a library of video tours for their managed properties well before the Corona virus reared its head, so were well placed to deal with the crisis. MyCircle.tv is a video sharing platform that we introduced to clients, enabling them to synchronise video viewings with remote viewers, so both parties watch the video at the same time. It allows agents to talk to and get live feedback from applicants in real time, so is as close to a real viewing as possible in the current circumstances. Head of Sales & Lettings, Steve Curley, has also agreed a sale on one property to a local buyer who knew the area well and found the video sufficient to make his decision.

Another agent, JP & Brimelow in Chorlton has agreed sales during this time using their videos, which they've been offering to all vendors since 2017. Owner, Eddie Ellis, explains " The value of video tours over the last three years has been extremely beneficial to my business.In recent weeks, though, have I seen the true value of adding the strategy of virtual viewings in these challenging times. Jodie, my Sales Manager has AGREED 12 sales in the last four weeks. Looking at the estate agent industry we are going to see a lot of agents prioritise new technology and focusing on a high service business model. For me it’s keeping the team involved with all our clients, my remotely placed live chat team are seeing an increase in activity. I’m finding new digital activity an interesting place and my high street presence will always be the key. You have an experienced team working under a strong brand name and available through Zoom calls be it viewings and valuations. We will add value and the wow factor."

The focus on video within the industry seems to have focussed more estate agents' minds on the benefits too. We're currently receiving at least one new enquiry a day from North West agents who not only want to offer video during the current lockdown, but have also decided that video should be part of their long term plans - look out for announcements about new clients soon!

Don't Let Lockdown Stop You

simon@iviewproperty.tv (Simon Thomas) — Tue, 14 Apr 2020 18:24:10 GMT

Exchanges & completions are still going ahead despite the Covid Lockdown

Never one to sit back & wait for the action, Eddie Ellis & his team at JP & Brimelow have remained proactive during the Covid lockdown and exchanged on one apartment and completed the sale of another at this converted property in Chorlton . Well done Team JPB

Remote Property Viewings

simon@iviewproperty.tv (Simon Thomas) — Mon, 13 Apr 2020 07:45:49 GMT

Remote Property Viewings - An Answer To The Covid Lockdown Restrictions

With the current Covid related restrictions meaning that most property viewings are no longer possible, estate agents & property developers are turning to video to allow viewers to see their homes. Whilst a good video tour on its own is a great way to introduce a property to a buyer, it precludes the ability to easily discuss & get live feedback about the home when both parties are watching remotely & separately.

However, the following video demonstrates how a platform called MyCircle.tv can be used to ensure the agent or developer can show & control playback of a video, so both you & the viewer enjoy a synchronised viewing experience, whilst talking on the phone to progress the potential sale to the next stage:

Video - Dawn of a New Age, The Negotiator

Mon, 13 Apr 2020 07:26:08 GMT

Dawn Of A New Age - The Negotiator Takes A Look At Video & Virtual Property Tours

As the growth in property video continues among estate agents, The Negotiator produced a feature on the options available and how those with experience are benefitting. Journalist, Richard Reed, spoke to iViewProperty's Simon Thomas about how and why estate agents are using video tours as a marketing tool to increase instructions. Read the full article here