We received a research request in the NAR Library on whether real estate listing videos prove worthwhile and of equal (or greater) value to photos. The answer to this question is somewhat subjective—what is true for one agent in his or her market may be the opposite for another agent in a different market. Real estate is local. However, after scouring the web we found some compelling evidence to support the technology and time investment for video creation.
As you may already know, the NAR partnered with Google this year on a research project titled The Digital House Hunt which surveyed home shoppers between July of 2011 and June of 2012. A few highlights of this report include:
- 16% of those who used a mobile phone during the home search process watched an online video about a home (p. 8).
- Of the home shoppers who used video in the home search process, 51% went to YouTube, 41% went to brokerage websites, and 37% went to Google video (p. 12).
- Finding an agent and agent related searches on YouTube grew 46% year-over-year in 2011 (p. 21).
And according to the NAR’s 2013 Profile of Home Buyers and Sellers:
- About 4 in 10 buyers rated virtual video tours very useful among website features (p. 45).
- 27% of home buyers and sellers looked at online video sites during the home search process (p. 47).
Additionally, the Pew Internet and American Life project publishes immensely insightful and reliable reports that frequently cover technology topics. Some recent reports and their highlights include:
Online Video 2013, (Pew Internet and American Life Project, Oct. 2013):
The share of online adults who watch or download videos has also grown from 69% of internet users in 2009 to 78% today, and mobile phones have become a key part of the video viewing and creating experience.
Photo and Video Sharing Grow Online, (Pew Internet and American Life Project, Oct. 2013).
Last, check out the NAR Library’s Field Guide to Digital Video as a Sales Tool and a few other articles from around the web:
Dare to be Different with Video, (REALTOR® Magazine, Aug. 2013):
Video is becoming more and more important to businesses. Forrester Research found that Web pages with videos are 53 times more likely to appear in the first page of Google search results than text-only pages. That kind of power is moving many real estate professionals to find new and interesting ways to present video as part of their marketing plan.
Growth of Video, Photo Sharing Raises Online Bonding, (REALTOR® Magazine, Oct. 2013).
Taking Video Marketing to a Shorter Level, (Chicago Agent Magazine, Oct. 17, 2013)
Turn Mobile Photos into Listing Videos (Inman, 2013).
Homebuyers Seeking Out Video on YouTube, (Chicago Agent Magazine, Feb. 20, 2013).
Let’s Get Reel, (REALTOR® Magazine, Aug. 2012).
Good Audio is Key in Real Estate Videos, (Inman, 2012)