This is obviously a hot topic of what's to come - and preparing for what's to come is where it's at right now!
We just had this as a topic of discussion in a focus group meeting at our office and I think as with any listing a video is only relevant to the quality of the actual listing - and of course the video.
For a higher end home in great condition, a video - done well of course - would certainly be a way to generate interest or help one listing stand out over another. Especially as Deryk mentioned capturing someone overseas who will possibly see fewer homes in person and narrow more online than even the average buyer today. Obviously, there is the listing advantage of having the seller feel that you are better than the next guy.
My primary thought with video is that I think there have got to be diminishing returns at a certain point - great pictures create the need for a buyer to visit the property. I feel that a video could actually show a buyer too much about the property or misrepresent something where they can decide NOT to see the property based on the video.
At this time as a novelty, it may work well - you won't be competing with too many other listings with videos. With the advent of HD on youtube this may help as well.
It's my understanding that in our listing service you can make a video as one of your media links - but you can't list it in the public remarks - so I don't think it would be able to be visible to the average consumer via FMLS or IDX feeds anyway.
I also think that mobile technology is where it's at now - video may be even more difficult to standardize - and keep reasonable loading times - on various wireless devices and platforms.
Thanks for the excellent question! I hope more agents - local and out of state - will continue to contribute their thoughts.
Not to say that it isn't getting better.
For this reason, at this time, I would recommend photos and slide shows of homes. These devices are easier for today's consumer to masticate and digest.
Work on become a really good photographer of home and tackle slide shows. After that, slowly merge into video.
We max out pics first and then we'll use seeinsidehomes.com to shoot a professional narrated video if we think that will enhance or add to the appeal of our marketing. Unfortunately this video tour company has become a victim of the economy in our area. If anyone knows of a good company that shoots true high end full motion video with narration please comment with contact info here.
. We actually did sell a home specifically from video on at least one occasion. Buyer was relocating from Great Britain...saw it on Realtor.com and according to their comments just "had to see it" . Once they saw it their comments were "it's exactly like what we saw in the video" and they made an offer and bought it.
In another case last year we were having trouble moving an older Wieland home. It had more upgrades and a lower price than anything in the S/D. After noticing many comments about how "dark' it seemed inside, and exhausting other options to lighten it up (removing curtains, higher wattage bulbs, making sure all lights were on for showings and window blinds open) we convinced the Seller to repaint ALL the dark trim (crown molding, doors and baseboard). We raised the price up 10k...painting only cost $3,900. As soon as we loaded the new pics and vid we had multiple offers and actually sold it for $23,500 over our lowest asking price. All three bidders commented on the pictures and before/after video as attracting them to the home immediately when they saw the "new" look.
We also secured at least 2 or 3 listings over the past couple of years from Sellers seeing our videos on other listings.
I have to agree with Hank and I will always have max pictures at the smallest possible file size and acceptable resolution for those lingering dial-up and slower access buyers. Laura also makes a great point of mentioning the quality and order of photos. We always put our best rooms and shots first and work our way down from there. Kitchens and family rooms are usually our first two shots after front elevation. Carol makes agood point too. What does the Seller want? We have definitely won listings with our video element in the marketing presentation....and higher end clients seem to expect it as the norm.
I sold a home on Ebay by posting the beautiful photos and virtual tour. It wasn't auctioned, just promoted there. I got a call from the Buyer and sold it to him sight unseen. No one in the area was interested because of the location. i ended up renting it for the out of state seller as well. Mandy Loftis CRS, CSP, e-Pro GREEN
What do the rest of you think?