Property Videos Increase Percieved Property Value

As most of you who have seen my presentations will know, I’m a big fan of video tours on property. Well to back up my passion that this tool should form a mandatory part of your marketing plans, a new survey released in the US has found that online videos and professionally produced photography have on perceived real estate property values.  According to the study, the survey results show that the use of an online video tour in marketing real estate property increased the perceived value of a home by 6%. 

Additionally, users indicated that they would be more likely to actually be interested in and visit homes on the market that had online video or professional photography associated with the listing. Finally, The data also shows that individuals who viewed a video of a property felt the listing would be on the market for a shorter period of time when compared to similar homes.

Survey Results Summary:

• 320 respondents viewed homes in the $400,000-$600,000 range.
• Respondents that viewed listing information accompanied by professional photography valued the property at an average price of $460,735, an increase of 11.5 percent or $52,896 over the average perceived price of the description-only property, $407,839.
• Respondents viewing a video valued the home at an average price of $432,329, an increase of 5.7 percent or $24,490, over the average perceived price of the description-only property, $407,839.
• Survey respondents believed a home with professional photography was three times more likely to sell within the standard listing period than a home marketed with only descriptive information.
• When asked how likely they were to visit the homes listed with professional photography, seven times as many respondents indicated that they were “very likely” to visit the home as those who said they were “very likely” to visit a home with only descriptive information

The research was undertaken by a company called PropertyPreviews in the US.

Remember, video is portable content and can be used on Facebook,Youtube as well as all the main real estate sites, you can also use it in your listing presentations.

As always, any comments or questions, please ask.

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