CONTACT INFORMATION
You can contact us any way that is convenient for you. We are here to help you sell or buy your next property.
- 722 Farris Road | Conway, Arkansas 72034
- +1 (501) 733 3591
- grealty1@gmail.com
Real Estate Marketing: The Historical Context
In today’s internet-driven marketplace, content is king. Just as the internet revolutionized every other industry, in real estate, the internet has empowered buyers by enabling them to browse through listings online–without the assistance of a buyer’s agent. The listing information that brokerages once held complete control over is now freely accessible through websites like Zillow.com and Trulia.com. Back in the ole ‘book-o-listings’ era, a few pictures were all the ‘visual content’ a brokerage needed in order to create a new listing for their ‘book’, or an ad for the newspaper. However, as buyers began gaining more access to online listings, agents and brokers began to realize that a few photos simply wasn’t enough visual content. In this new realm of internet-based house-hunting, listings needed more (and higher quality) visual content in order to compel buyers to stop and look. Brokerages needed to find a way to attract buyers to engage and interact with their online listing more than all the other listings. Hence, the virtual tour became a go-to solution. Brokerages began leveraging virtual tours in order to capitalize on the moment—the very brief moment—when a buyer would stumble upon their online listing. Though buyers might only spend a few moments clicking through pictures, the virtual tour held the promise of a captive audience—as buyers needed only to click “Play”, sit back, and enjoy the show.
The Value of the Virtual Tour
With the virtual tour, a listing agent could integrate multiple means of communication in one buyer-friendly package. Without a virtual tour, the basic listing only provided text and photo content. With a virtual tour though, text, photos and audio could all be overlaid in one little advertising package that could easily keep the attention of online buyers. Some virtual tours had music, while others had a recorded voice—a virtual ‘tour guide’—describing a property as images cascaded across the screen. Then, and now, the value of the virtual tour is in its ability to keep a buyers’ attention–to keep them thinking about that particular home–for a longer period of time. When this happens, the advertiser’s message–the value proposition–is communicated to the buyer. With mere photos and text, buyers spend far less time on one single listing, making it easier for that message of value to be missed entirely. If they’re able to scroll through the listing photos in 10-15 seconds, that may be the only 10-15 seconds they spend considering that home. If there’s more content though, they just might hang around a little longer. And, if they’re looking at, and thinking about a home for 5 minutes, they might actually begin to see something they like. The virtual tour helps to enable this kind of online buyer interaction with a listing. If you’re selling, or thinking of selling, keep this in mind: In today’s market, the ideal listing advertisement provides visual content that will captivate the attention of buyers, and compel them to spend as much time as possible looking, watching and thinking about your home as an option. If they don’t like looking at your home on their smartphone, many buyers aren’t going to go see your home in-person. I know this because I work with many of these buyers. Like it or not, for many buyers in today’s market, that’s simply how their decision-making process works. As a seller, you need to keep this in mind when you choose a brokerage to list your home with.
Beyond the Virtual Tour
One evening, shortly after I became a real estate agent, one of my best friends and I were discussing all of that ‘new’ stuff that friends discuss when one of them embarks on a new career path. I remember telling my friend how it seemed odd, to me, that the “Virtual Tour” appeared to be the pinnacle of local real estate advertising in Faulkner County. In our high-tech day when most folks have a video camera with them everywhere they go, somehow, the visual content in local real estate advertising had apparently only progressed to the technological point of the “slideshow” (a.k.a. Virtual Tour). Since that conversation, he and I have pondered this phenomenon again and again. I’ve done a lot of research and theorizing, and I’ve asked “Why?” a lot. While I still think it’s odd that virtual tours are the bread-and-butter of local real estate advertising, I think the simple explanation might lie somewhere in the process–the checklist–that some local listing agents/brokerages go through to list a home.
Process vs. Content
I’m beginning to learn that listing agents have very little free time. I understand that when ‘time’ becomes an issue in a company, it makes sense to look for ways to streamline processes and find ways to add efficiency to the overall operation. It seems to me that some local brokerages have placed a significant emphasis on streamlining their processes. Though, somewhere along the way, amid all the streamlining of processes, it seems that some decided to streamline their processes for creating listing content as well. Now, don’t misunderstand me. I’m not saying that content creation processes can’t be efficient. I’m simply saying that advertising—good advertising—requires time, thought, and attention to detail. It’s a creative process. And sometimes, a bit too much streamlining can have an undesired effect on the quality of the content. Whatever else listing agents may do (which happens to be a lot, actually) at the nuts-n-bolts level, a listing agent’s job is to provide the highest quality, most effective advertising they can possibly provide for their clients’ homes. In a nutshell, listing agents are advertisers, and real estate brokerages are advertising firms. It just stands to reason then, that an advertising company should prioritize the content of their advertising over the process used to create that content. However, considering that in local real estate advertising, virtual tours are the most advanced technology being used to convey visual content to potential buyers, it almost seems that for some companies, process has been prioritized over content. Let’s face it, building a virtual tour (which is simply a fancy slideshow) is a whole lot faster than filming and editing a video. It’s a much more efficient process, but the content just isn’t the same at all. It reminds me of a quote from one of my favorite business minds. In 1996, Robert Cringely interviewed Steve Jobs for the PBS documentary Triumph of the Nerds: The Rise of Accidental Empires. In that interview Jobs said the following:
You can contact us any way that is convenient for you. We are here to help you sell or buy your next property.
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