For starters, you are constantly bumping shoulders with other real estate brands, whose value propositions and processes are very similar to yours. Then there’s the fact that it’s a dual-sided marketplace, where buyers’ and sellers’ interests sometimes don’t align.
Video marketing offers a lot of advantages to real estate businesses. In this article, we’re going to look at the biggest benefits of video marketing for real estate, starting with…
Benefit #1. Reach (a.k.a. the economies of scale)
You know how in TV shows you sometimes get real estate agents saying stuff like, “I really need this listing,” or, “If only I could close these buyers, I’d be set!”
There are two possible explanations for this:
- Those fictional agents are about to go out of business, and this is just clever foreshadowing, or
- TV writers don’t understand how real estate works (no surprise there).
You would never hinge your livelihood on a single make-or-break listing, or a single buyer coming through! You know it’s a recipe for disaster. To succeed as a real estate business, reliably and consistently, you need a constant supply of leads.
New sellers to put their properties up for sale – and new eager buyers to snap them up. It can take a long time, and most leads never pan out anyway… so the more the merrier!
This is where the benefits of video marketing really shine.
All this means that you get more leads, more of them take action, and you have a bigger supply of potential buyers and sellers to choose from!
You can check out our earlier article for some lead generation ideas you could implement for your real estate brand. And then you can sit back and say, “That’s how you do it, fictional real estate agents!”
Benefit #2. Faster sales cycle (a.k.a. selling like hot cakes)
Real estate has notoriously long sales cycles – up to 18 months in some cases. Not really surprising, considering that we’re talking about the biggest financial transaction an average person might make in their life!
But if we sit down and do some research, we’ll discover that some properties sell much faster than average – even when the prices are growing (which means fewer buyers), or when the market takes a dive (leading to fewer sellers).
Even in poor market conditions, you can find clients who are eager to move forward and buy (or sell) the properties they really want. Now, how do you do that?
That’s where another one of the benefits of video marketing comes in. You can use it to motivate potential clients long before you have a chance to speak with them on the phone, or face to face.
For example, we all know that a listing with high-quality photographs will sell faster than the one without. But then what if you produce a beautiful video tour of that property, and add it to your listing? Or create a “highlight reel” of your very best listings to show them off to potential buyers? Doing that can make them sell even quicker!
Plus, a lot of the drag in the real estate sales cycle comes from minor hitches. Like not being able to schedule an in-person showing, or agents losing contact with prospects, or them having lots of questions that need answering – or taking their sweet time evaluating all their options (can’t blame them)…
Video marketing can address all of these, at least in part, speeding up the sales cycle dramatically. And speaking of people having questions…
Benefit #3. Pre-emptive persuasion (a.k.a. “You had me at hello”)
As a real estate agency, you do business with buyers and sellers. But as far as you’re concerned, they are all buyers – of your service!
And buying things is stressful. Usually, people respond to it in one of two ways:
- They purchase the first option they come across, just to be done with it, or
- They unleash an artillery barrage of questions, trying to avoid a poor decision
No prizes for guessing which one people go with when dealing with real estate businesses! Our guess is, you’ve been grilled on everything from your industry experience to how many properties you and your team have personally bought, or how close you live to each listing.
And as happy as you are to address your client’s concerns… it can get tiresome.
But this is another scenario where the benefits of video marketing can serve to your advantage. Use them as a way to answer your prospects’ questions early, clearly, and honestly. While you couldn’t possibly tackle all of them in a single video (or even a series of videos), here are some big ones to focus on:
- What makes your services special (your USP)
- Why your clients should trust you
- Your track record of success (your credibility)
- Why they want to act now (urgency and scarcity)
- Why you are their best option of all available
If you know what keeps your prospects up at night, video marketing offers a wonderful opportunity to discuss these objections beforehand.
Not only will this make your prospects less anxious about doing business with you – it will drive away those who aren’t ready or serious enough to commit to working with you. Win-win!
Benefit #4. Longevity (a.k.a. the gift that keeps on giving)
For all the wonderful possibilities that digital marketing offers, sometimes it still feels like being stuck in a hamster wheel. Online content doesn’t last long – and churning it out, again and again, can feel exhausting and futile.
And when we say it doesn’t last long, we mean at all. Just look at the numbers.
Most blog posts “live” (as in, attract traffic, backlinks, and shares) for about a month. A Pinterest pin stays relevant for a couple of days – that’s ages in social media terms. And most things posted on Twitter and Facebook last for 2-5 hours.
Even a moth could beat that life expectancy!
Video, however, can stay relevant for months. And if you play your cards right – years. You can optimize it for search engines, people can share it and include it into playlists, and you can repurpose it into other types of content…
It can live on, attracting more leads to your real estate agency 24/7, rain or shine. If you want “evergreen” content that provides the highest ROI for all the time, money, and creativity you pour into it… video marketing is where it’s at.
How much ROI are we talking about? Well, it varies a lot, but here’s an example, just to give you some perspective: one of our clients (not in real estate) increased their annual revenue by $250,000 with just one video.
But we might be biased – so here’s another case study of a video that generated 7 figures over several years. That’s the power of video marketing in action!
Benefit #5. Versatility (a.k.a. many ways to skin a cat)
(Just to clarify: please do not, under any circumstances, skin a cat. And no cats were harmed in the writing of this article, either.)
What’s your biggest business challenge right now?
Do you need a way to nurture and qualify leads better? Are you in need of some new hires who would be a good fit and excel at their jobs? Do you want more eyeballs on your properties?
As diverse as these challenges are, a high-converting video can help you solve them effectively. One of the many benefits of video marketing is its endless applications. It’s the business equivalent of a multi-tool – as long as you apply it the right way, you will see results!
And if you look around, you can see real estate agencies all over the world use video content to increase their revenues, drum up attention and publicity for their properties, and attract world-class talent to their ranks.
Now, you don’t have to do the exact same thing those brands are doing. In fact, you don’t have to use video marketing at all if your current strategy is working out just fine!
But if you could use more growth and more conversions… maybe it’s time to give video marketing a try. Remember what we said at the beginning: it’s good to make use of every advantage you can get!
Harness the benefits of video marketing for your business
If you want to use video marketing to grow your real estate brand but don’t know where to start, here’s how we can help:
Get a free audit of your video marketing strategy from our in-house experts here at The Draw Shop. And if you don’t have a strategy in place yet, we’ll help you put one together!
Sound good? Then book your free pow wow today, and we’ll be in touch with you post-haste!