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Posted at Matthew Ferrara & Company by Matthew Ferrara
Apr. 24, 2008
The other day I encountered insanity. Once again, I know. It's around me every day - since there are still about 1 million REALTORS too many hanging around. Still, it's hard to overlook the ridiculous. And here's a picture for you (pun to be intended).
I'm having a conversation with a REALTOR who has been practicing for quite some time - certainly more than just the last few boomlet years - and we're discussing internet listings. She can't wonder why her listings aren't attracting more inquiries. I bit my tongue not to ask her just how much the listing was overpriced; I thought maybe I'd skip that fight that day. But I couldn't resist asking how it looked online. Do you have a lot of photos, I asked? Yes, I have about 6 or 7 photos, she replied. Well, not bad, I said. At least it's more than the usual 1 or 2 (or none!) What about videos? How many of those do you have on the listing?, I asked. Oh, I don't do videos. I don't like them. They take too long to load up and when I click them, I hate having to scroll through them. I find them annoying, so I don't put them on my listings. She actually smiled proudly as she said this. Screeeeeeeeech. Slam. Was that a truck that just hit me? I'm sorry, I politely asked. Did I hear you say that you don't put videos on your listings because you don't like to look at them when you're online? Yes, they are slow. I don't think they look good. And they cost a lot and look really bad. Head held higher this time; nose in defiance of (me, reality, cost? not sure...) Might I ask a question, I quietly said (Yes, I was actually calm. No screaming...) Sure. Do you purchase a lot of the houses you list, I asked simply. Huh? I don't understand what you're asking, came the reply. Well, I'm trying to find out if you actually purchase the houses you list and put on the web, I clarified. Of course not! I don't get what you're trying to say, came a sneering retort. Well, it's like this, I offered. You might attract more buyers if you marketed them the way buyers want to buy them, not the way you want to market them. Just because you don't like videos of listings doesn't mean that the person likely to purchase your listing does not! Generations X and Y love videos - much more than photos - and they comprise a huge portion of today's buyer populations. Maybe it would help if you considered the buyer when deciding what kind of marketing tools to use; not yourself. Unless you're buying your own listings, you really don't have any say in how to market them. The consumer always sets the standard of performance. Blank stare. Disbelief. Then a flicker of anger, quickly controlled through years of (past) success. And the agent said, No. You're wrong. I don't like them so I'm not using them. Well, I hope nobody tells your sellers that, I offered. Of course, the sellers probably already know this is a problem because a) the house hadn't sold and b) the sellers are looking online at other houses they will buy when their house eventually sells and I bet they're looking at lots of videos. Still, no luck. Not getting through. No connection. Wireless access unavailable. Syntax error. Well, I guess we'll just have to agree to disagree, she said. i don't like videos and so I'm not going to use them. Ok, I said. Good luck with that. User Comments
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1. RE: Note to REALTORS: It's not about you
Long ago I was a pioneer in the video business in the US. After 10 years in the business, we sold our company to a large NYSE firm and moved on. Along the way, I had to learn that professional video was impossible for the consumer to compete with and that the best use for consumer video was for security and training. Later, video replaced film. Perfect.
However, it's my belief that things like a virtual tour of homes might be better the existing way than in video for three reasons: 1) the viewer can jump to what they want to see; 2) nothing is more dull than a video of static things; video is for movement, not static display; 3) video takes too long to load and much of America's home buying public is not equipped with broadband..
I am not a Luddite, but I am a realist. Every time someone creates more bandwidth, champions of it cigorously urge us to adopt new ways of using that bandwidth. I say virtual tours are adequate for websites and that video should be used to SELL YOURSELF. Its a question of using the right tool for the right thing and I believe a good virtual tour is better than a video tour.