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Monday, October 22, 2012

Video Marketing a Property (For Sale!)

"You got to know when to hold them, when to fold them ... "
(The Gambler -
by Donald Alan "Don" Schlitz, Jr. - Made famous by Kenny Rogers)
Selling a property may not be for you if you subscribe to the 'Buy and Hold' School of Thought but if you are selling, then see what Video Marketing can do for you.

One way of generating wealth is by investing in property. Many of the most wealthy people on this planet have acquired immense wealth by investing in property. There are huge reservoirs of information and knowledge in this field for different countries so this is not an attempt to paraphrase what you can find so easily on the Net. In this post I will be discussing how you can market your property via Video Marketing (in addition to or instead of using an agent) to get the BEST PRICE and ROI possible.

Many workers in the real estate industry are still not aware or up to date when it comes to using social media for their industry, let alone using video marketing to promote specific properties they sell (or rent), so that is why I suggest that if you wish to market your property via video marketing (which is an excellent idea as it lends itself easily to this kind of marketing) you might have to take charge of this yourself. Your agent will most likely not know how to, or have the time or the inclination even if they happen to know how to create videos. Their PA might know but she will likely be even busier than her boss/es!


Points to Note Even BEFORE You Create Your Video:
  1. Talk about the features of the property but emphasise the BENEFITS.
  2. This implies you know your TARGET MARKET - ask her / him who this is - BEFORE you sign the agreement to let them list your property for sale. Then see if they pitch the benefits to the right segment of the population (your target market, eg. young family, property investor, boomers where the kids have flown the nest, etc.)
  3. Do NOT reveal everything in your listing (an experienced agent will know how much to reveal and how much to withhold, to hook/ bait the people in to view your property.) You do want to leave some surprise for discovery so just enough info is all that's needed to reel in the viewers.
  4. Put your BEST FOOT forward - do all you can to address any issues that will detract from a quick sale and / or from your desired price - your agent should advice you on this. If they advice you to do the opposite (eg. tell you not to paint your tread-worn deck which you have so conscientiously repaired) which is against your better judgement, ask them why and don't settle for a poor or inadequate reply - he may not be doing you a favour! Is there an intention to hock off your property at well below your desired price in order to speed up a sale?? (Cheaper properties sell faster if there are many similar ones competing with yours especially if your timeframe for them to sell is short eg. 4 weeks, and the housing stock in the region is already too pricey.)
  5. CLEAN your property thoroughly inside and outside - this does not cost much but makes a big difference to its appeal. This includes curtains, blinds, etc. Use an oil-based deoderiser if the carpets smell, etc.
  6. MOW the lawns, trim the shrubs, trees, etc. Remove all trash and cuttings from the yard.
  7. Change SMALL ITEMS like electrical plugs if faulty or yellow with age or grime, door handles, cupboard door handles, light fittings if these are old and unsightly, towel racks, and other fittings if they need fixing, replacing or modernising. You don't want to overcapitalise but you do need to attend to small issues that will impact hugely on your final sale price or even the sale itself!
  8. PAINT any surface if it looks really bad or peeling and ./ or cannot be scrubbed clean. 
  9. In general do your best and attend to EVERYTHING that will improve the property's appeal (subject to your budget but spend if necessary especially for important repairs). Remember that no amount of smart video marketing is going to help you get your house sold if your property doesn't live up to its appeal in the video! That is, DELIVER ... preferably, OVER-DELIVER on your offer!
  10. Then take QUALITY still photos - dark photos give the impression of dampness and a lack of natural lighting (even though that may not be the case in reality) so ensure you have the right exposure for indoor and outdoor shots. 
  11. Also take a VIDEO recording, lingering on the better features, eg. if you are marketing a high-end property you might want to  visually linger on and zoom in on quality chattels eg. light, door and plumbing fittings, high-lights of a character home such as an ornate ceiling, stained-glass windows, arched doorways, carvings, etc. and any other special and high-end features that make your property stand out from the norm.
  12. EDIT the photos if the exposure is incorrect, and crop out unnecessary details that distract from your selected photos. Your video and photos need to be accurate and NOT misleading, yet be attractive enough to stir interest in prospective buyers.
  13. Add notation and PROMOTE your video on Youtube. Give it a compelling TITLE so it grabs the attention of your target market.
  14. You can add sound, music, an intro, but most importantly a contact NAME and PHONE NUMBER. (In the above case-study video the name and phone number has been omitted for privacy reasons. The producer has also indulged in the INTRO and who can blame her when you see the handsome,  honey-blonde Burt Bacharach with his smiling eyes crooning a hit like "A House is Not a Home"?  BTW a house is NOT a home ... until it's loved and valued!) You can skip the intro and keep it simpler like this version here: Birdsong Version
  15.  Add whatever audio background you deem appropriate and that will ADD VALUE to your promotion - soothing bird-chatter was added because the property was located in the quiet and family-friendly suburb of West Gladstone, Queensland, where you can hear BIRD-SONG ALL DAY LONG, from the crack of Dawn through to the falling Dusk!
  16. You could even cut this version down further, and save the longer version for the owner (who may be attached to their home or for other sentimental reasons) or for the LONG DISTANCE buyer / investor, who is attempting to source a property sight unseen and requiring more visual cues.
  17. You can add even more VALUE to your video listing if you share your knowledge with your viewers because they may not necessarily know as much as you do eg.:
    a) point out that older properties with the potential for improvement represents GOOD VALUE over brand new stock, and  
    b) they also represent a SAFER BUY as the risk of ending up with negative equity is much smaller than say, new stock which are marketed at premium prices.
  18. Pay strict attention to DETAIL in every aspect of the marketing process here and you will be rewarded for your efforts. In particular try to be original in your approach, from your photos to your promotion aim to showcase your property differently from the norm - give it that X+F Factor! F Factor? 
  19. Yes add that FUN FACTOR into your video marketing - X+F = enthusiastic, fun and irresistible marketing! Enthusiasm, as sales professionals will attest, is a key ingredient for successful sales outcomes.
  20. Be creative but in a relevant way, with your target market in mind. Make sure that your agents also have the same target market in their sights so that you are all working on the same page. 
  21. The other key ingredient is INTEGRITY - market with integrity and you will build up trust and likeability in your relationships with your prospects. Fact: People buy from those they trust and like!
  22. What about you? Have you recently experimented with video marketing for your property? (either for rent or sale) - try my tips and let us know how you get on? I would love to receive your feedback.

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