It looks like open homes are on hold for a while, so now what?

Well it is worth remembering that OFIs are a relatively new invention for real estate. In the 80’s the newspapers came up with the idea of publishing them on Saturday for free, and suddenly real estate agents sprinting around suburbs ushering people through homes on a Saturday morning was a part of Aussie culture.

Prior to the OFI bonanza, properties were typically sold through private inspections, and this is where we will be for the foreseeable future. Although, a big difference we have now compared to back then is the use of video marketing.

Here are 3 great reasons to use more video:

1. 48% more people engage with videos than static images when delivered via email or social media.
2. 2020 has been cancelled!  – People are spending their evenings flicking through their phones looking for something interesting to watch. It is predicted that social media consumption will increase 66% due to the current situation.
3. Cost – Consumers are super forgiving around video quality during these times (even the mainstream News turning to at home segments from reporters and guests).

On the last point historically, production quality for real estate video was unrivalled. In fact, the market is flooded with production businesses who specialise in video for the real estate industry alone. Unfortunately, it stops a lot of agents using video, and tools like Facebook Live, as they are fearful of comparison with high budget videos.

However, a lot of properties, and current market conditions, call for a more raw and personable approach. The good news is vendors and buyers are going to be much more forgiving of video production quality. In fact, live and unedited videos will be greatly appreciated in this climate so it is a great opportunity to experiment and get something out.

Key steps:

1. Call your vendors and explain you want a video of their home to promote their property. You can either pop round (and maintain 2 metres distance) or they can have a go themselves and send you the video.
2. A low budget video can be done on a phone, the cameras on the last few generations of phones are amazing. The two things to keep in mind are light and walkthrough speed.
3. No need for a voice over. It is easy to add music and text on the screen explaining which room they are looking at. Around 85% of videos are watched without sound so short text overlays in the editing phase is important. 
4. Walk and pan the video slowly – This is not the Blair Witch project. Try and begin with and end the video with the impression of open space. For instance, front garden to back garden, Balcony view to spacious living area and not linen cupboard to downstairs bathroom. We would suggest if a vendor is filming, provide them with a room order so they can easily follow.
5. No more than 2 minutes! This will be hard for those vendors who want to open every draw, and show off their impressive grocery (toilet paper) supply stash.

Video Editing

At iRealty we use a couple of software tools for video editing. They are pretty easy to use so don’t fear if you are a video novice. We have no direct relationship with them, but if you need a hand we can try and help out.

For video editing: 

Biteable – A self explanatory video builder that allows you to easily upload video clips and narrate with text and animation. Skill level – Beginner  

Adobe Spark – A simple video editor that will allow you to upload clips, insert a voiceover or text and export with ease – Skill level beginner 

Premier Rush – Part of the Adobe suite ‘Rush’ is a simplified version of industry preferred ‘Premiere Pro’. Upload clips, record voice overs, and export to Youtube all in the one system. – Skill level intermediate.

Video Hosting

If you don’t already have a place to host videos, have a chat with your website provider first but setting up a Youtube channel for yourself or the office is probably the easiest way to go. There seem to be hundreds of blogs and videos explaining how to do this in the real estate industry this is one example we found.

Video Distribution

Social media and email remain key but don’t forget SMS. Depending on the quality you might want to consider placing them on your website and pushing out to REA as they now have an online open home portal. 

However, the benefit of the former channels is you can tailor the message based on the quality of the video.

Example 1 – Facebook
Our vendor at 19 Smith St, has put together a video tour of their home. We think they have done a fantastic job! If you have any questions comment below or give us a call we might even be able to arrange a private inspection.

Example 2 – Email
Dear Jane,

Despite living in uncertain times our team and clients have come together to ensure you have property information readily available to you. We are still organising private inspections, with all the recommended precautions. Plus we have links to some great video tours below – some put together by our incredible vendors!

Example 3 – SMS
Automated message 
Hi John, 

Great to see you at our Open homes over the past weeks. Unfortunately, these are on hold for now, but I thought you might want to watch a video tour of the 19 Smith St. CLICK HERE

We hope this article will inspire some ideas. Our marketing team is now working from home, but very happy in these challenging times to share ideas and attempt to help with any technical challenges.Of course no obligations attached, together we will get through this period.

Key takeaways:  While open homes are paused for the foreseeable future. Video has never been easier to create or more valuable to your marketing. If we can help answer your video marketing questions learn more below.