Thursday, February 02, 2017

Technology. Forever changing the dynamic of real estate.

This week, our team has been discussing a recent sale that captured the media's attention around Australia. A property on Sydney's North Shore sold for $3.65 million to an overseas buyer 6,000 kilometres away who inspected it 
for the first time via a FaceTime video call. 

The reason this sparked our attention, was because we have been using the power of video in property marketing for over 10 years, and from first-hand experience we know how important this element is in the sale process.

In this NSW example, the selling agent walked the buyer through the property over FaceTime, which lead to an offer being submitted the next day.

What we found interesting about this sale campaign was that without a property video for this luxury Sydney residence, buyers were missing the essential element designed to capture attention and spark emotional connections - particularly with the international market that may be looking for Australian property. In this case, without a video for buyers to watch, there was the need for the FaceTime inspection, possibly at the buyer's request...

Here in Adelaide, our team is finding it increasingly common for people who have never enquired or visited a property to turn up on auction day, register and bid. The first time I saw this was four years ago. A gentleman who lived on Kangaroo Island arrived at one of our high-end listings for the first time on auction day. He inspected, bid and purchased the property all within the space of an hour. Talking with him after, we discovered he had watched the property's video a number of times, loved it and was so confident it was the home for him, that he was ready to travel to Adelaide on auction day to have a quick look prior to the auction with the intention of buying the property. 

We know it's a competitive market for buyers right now and property videos are adding huge value to the buying experience as people can inspect the home virtually as soon as they see 
it online. From that moment, we start seeing the emotional attachment and excitement form. It's common for people to share the property video with friends and family, all before the first open inspection. 

There's no denying that video is now an essential component of a property marketing campaign. Properties with videos receive four times the engagement than photos alone. Team Toop's property videos are the most viewed videos in South Australia, and constantly in the top two for video views in Australia. In January alone, our Toop&Toop property videos were viewed over 24,357 times by potential buyers.

These numbers clearly show how popular video is, however the video's style and content is just as crucial. With years of exploring and working in this space, Toop&Toop understand the key triggers to capture and maintain buyers attention and we are witnessing these strategies flow through to the number of buyers we attract to our clients' opens and the number of offers we receive... all helping achieve fantastic results. 

If you would like to know more about how Toop&Toop can help create maximum exposure and engagement for your property with buyers locally, nationally and internationally, chat to one of our team this weekend, we would love to help.

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