Horowitz Associates just released its Broadband Content and Services 2007 report. As suspected, video is on a tear with adult users. It’s not just for the kiddies anymore. According to the report, a full six out of ten (61%) high speed internet users watch/download content once a week. On a monthly basis the number spikes to 86%. Other reports indicate much of the same.

The comScore Video Metrix report shows viewers watched an average of three hours of video in September with US viewers watching more than 9 billion videos. Yes, that is billion. The report also stated the average video length was 2.7 minutes, also known as the perfect amount of time for a property video. If you have a luxury property, a video is a must have for your marketing package. As video becomes utterly pervasive and mainstream affluent buyers won’t simply be delighted you have a luxury property video, they will demand it. Expect trends like this to see even more acceleration in 2008. 

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Via: Horowitz Associates, Emarketer

Why are property videos taking over the luxury market? It’s simple. Video gets remembered -

People remember only 20% of what they hear and only 30% of what they see, but an incredible 70% of what they hear and see! It’s no surprise then video has become a must have marketing tool in many online industries. Real estate is no different. Videos create a story and a stronger emotional response than pictures or text. If you want your property to shine make it the star of the show.

Video consumers take action -

Internet video viewers actually “choose” to watch your video. TV viewers are assaulted with commercials and unpredictable programming. Videos are interactive and user friendly. 50% of video viewers take some form of action after watching a video; like clicking on an advertisement or visiting a website.

International buyers love video -

International property buyers are demanding video. To save time, energy, and travel costs these buyers watch property videos. Why fly from Hong Kong to Aspen to see if you like a kitchen when you can see it come to life from your computer screen? Then, once you know you love the green carpet in the basement invest the time and money to make a visit. If catering to an affluent, international audience is your goal, video is the solution to increase visibility and highlight your tech-savvy expertise.

For an exclusive look at selling and marketing tips from today’s top tech-savvy professionals we recommend the video "How to Sell Your Home for Top Dollar" produced by Realty Impact Marketing.

h/t: justluxe

What do theme parks and real estate marketing have in common? Well, they each feature an assortment of rides to excite our senses and make us come back for more. Yet, it dumbfounds me. Why get on a Tilt-a-Whirl (aka Virtual Tour) when there are rides like the Millennium Force (aka Video) in the same theme park? One makes my adrenaline rush and the other rushes me to the bathroom. A video excites buyers. A virtual tour punishes buyers. Here’s some great questions to ask yourself before strapping into the video roller-coaster of success.

1. What is my property worth? It’s not practical to pay top dollar for a video showcasing a $300,000 listing. Nor is it practical to showcase a multi-million dollar property with a low budget video. Your marketing budget and property should dictate what type of video you produce.

2. How much should I expect to pay for a video? Top of the line, full production videos can reach upwards of $3,000-$4,000. Not exactly the kind of change you’ll find in the penny bank, but as with most things in life, you get what you pay for. In this case it’s a turn-key, no hassles, marketing masterpiece. Think of the video as an investment. The more you put in the more you get out. For the value investor, lower budget videos can be as cheap as $200. As long as you use a professional, you will still receive a quality, innovative marketing product.

3. What type of production style fits my property? Do you have a waterfront property? Be sure to use a videographer that can do boat or underwater shots. Do you have a one-of-a kind estate? Be sure to find a provider who offers helicopter shots to capture the landscape. Is your property still being built? Then consider a 3D videographic rendering. These are excellent marketing pieces for luxury clubs and developments.

Quick Tip - Ask your videographer about the music, lighting, and other visual effects. Remember, if in doubt, keep it simple. Videos range from standard voice-overs to full production interviews with architects, homeowners, and historians. Know the extent of production before you take the leap.

4. What is the story? The story is everything! If you don’t have a multi-million dollar luxury property a standard voice-over video tour will suffice. However, if you have a showcase property the story can be the ultimate selling point. Has your property been in a Hollywood movie? Was a former resident a celebrity or political icon? Is there something special about the architecture? Are the kitchen tiles custom made in a small farming village in northern Peru? Every story has the potential to capture the audience. The more humanity in the story the better.

Video Fact - “Nearly a billion consumers worldwide will watch internet video by 2012, up from roughly 300 million today.” (ABI Research)

Contact Video@LuxuryProperty.com for information about our video partners and how to get your video on LuxuryProperty.com

Picture: CedarPoint -GeoCities

Things don’t always “pan out.” Just ask Enron. They crashed and burned. Polyester. That seemed great at the time. 8-Tracks. Baby, those were the days. As companies, fashion, and music industries strive to set the next trend, most eventually fade and become relics of history. If something is going to “pan out” there needs to be logic. It must have intrinsic value. It has to endure. It needs to be precious. It has to be like…well…Gold!

The origin of the expression ‘panning out’ comes from the California gold rush. “Panning out” a cubic foot of gold enriched gravel could produce instant wealth. It’s the same today as it was back then. A brick of gold bullion lying in the street will send people into a raucous frenzy. Web 2.0 is the same kind of tumult. Only, video is the new gold. Today’s top internet marketers agree video is your fast track to success. Its value is just starting to emerge. Online video is going to “pan out” and in a big, big way. Internet TV is already here. The rush has begun.

The following excerpts (all from 2007) highlight the consensus of online marketing firms that agree video is the internet’s gold mine. Grab your pick axe and sifting pan. There’s plenty for everyone!

ABI Research “Nearly a billion consumers worldwide will watch Internet video by 2012, up from roughly 300 million today.”

Pew/Internet “Online video now reaches a mainstream audience; 57% of online adults have used the internet to watch or download video, and 19% do so on a typical day.”

Advertising.com “The majority (62%) of consumers are viewing video online.”

Bill Battino, Communications Sector managing partner, IBM Global Business Services. "Consumers are demonstrating their desire for both wired and wireless access to content… an average of 81 percent of consumers surveyed globally indicated they’ve watched, or want to watch, PC video, and an average of 42 percent indicated they’ve watched, or want to watch, mobile video…"

Online Publishers Association “Watching video online is becoming routine with 5% viewing daily; equaling millions of consumers.”

Lumin Collaborative “Traditional radio is losing its significance in people’s lives. US adults are spending more time each day on the Internet and watching TV than listening to the radio.”

Edison Media Research, Larry Rosin “It is not a stretch to say that the Internet has become just as important as television as an important source of information and entertainment in the lives of Americans."

EMarketer.com "2008 will mark a watershed for Internet video. More than 50 percent of the U.S. population will have watched video online. That percentage should reach more than 61 percent of the U.S. population in 2011, with viewership defined as a person who has watched Web video content at least once a month.”

Video offers luxury real estate professionals the most dynamic form of online marketing. Judging by the forecasts it is only going to get bigger. Presently, some sophisticated buyers and sellers are satisfied with agents marketing virtual tour “fools gold.” It won’t be long until they demand the real thing. Check in with a professional real estate videographer to find out how your can be apart of the internet gold rush. Some of the best professional real estate videographers catering to the high end market include: RealtyVideoUSA, Nashua Video Tours, RealtyImpactMarketing,TurnHere, and OnlineWalkThru (now LuxuryWalkThru)

Are you posting your luxury property videos on Youtube? If you are I don’t blame you. That is what some mass market real estate ‘experts’ are recommending. They suggest a video salvo across the web is a sure fire plan for success. Put your exclusive, prestigious property in as many places as possible they say. Boost your SEO. Climb to the top of Google. Take over the world! The illusions of grandeur just keep going. Let’s bring this back to reality.

Youtube is a wild, beautiful cacophony of humanity. Yet, it doesn’t take much searching to realize the inherent problem with posting your property video there. Have you ever looked at the “comments & responses” section under one of these videos? It’s not exactly tea and crumpets down there. In fact, it can get down right absurd, embarrassing, and nasty. I love the freedom of speech, but you wouldn’t put your luxury listing on the back of an adult magazine. Posting your luxury property video on Youtube is like being in Jurassic Park. One minute everything is great as you get an initial boost in your SEO. The next moment T-Rex is gobbling up the poor little goat, chasing down your Jeep, and Jeff Goldblum is chirping “must go faster” in your ear. Youtube is not as good as it seems. Here’s evidence why luxury professionals should NOT post their property videos on Youtube.

The following links are to professionally produced luxury videos on Youtube. It’s important to remember most qualified luxury buyers aren’t searching Youtube for real estate. Even if they are, would they want to read the “comments and responses” associated with the videos at the links below?

http://youtube.com/watch?v=mgaa4fw1aVY

http://youtube.com/watch?v=ppP-67CvB8k

http://youtube.com/watch?v=uj_dH9fJq_I

http://youtube.com/watch?v=8edY7bUa18o

http://youtube.com/watch?v=RS_9WNuPfe8

Targeted marketing is everything. Where you put a luxury listing says a lot about it. How you respect a seller’s privacy says a lot about your professionalism.The content, design, and overall appeal of a property’s marketing has a dramatic effect on buyers. When I’m reading the Wall Street Journal I enjoy the real estate. When I am at a carnival (Youtube) it’s best to watch the talking animals and the clowns. They each have their place. Just not with each other.

For targeted online real estate marketing contact LuxuryProperty.com. Your buyers AND sellers will thank you.

The key to Scrabble is using short game changing words. Memorizing words like tranq, qabab, and qadi gives a serious advantage when you have a Q but no U. A great aspect of the game is playing a word you know isn’t in the dictionary, but no one is confident enough to challenge you on. That is exactly what I am going to do. I am going to bend the rules. I am not only going to play an acronym, but I am going to play something that doesn’t even exist. I am going to create my own term, put it on the board, and walk away with confidence. I hope you are ready.

“PGC”

What is PGC? You encounter it everyday. It’s in magazines, television, online, newspapers, and on the big screen at the local cinema. It’s what you pay to watch and read. It’s “Professional Generated Content.” The User Generated Content (UGC) movement has been marvelous. The democratic nature of UGC has given rise to blogging, viral marketing, and instant fame for many amateur content creators. If you’ve seen the Evolution of Dance you know what I mean. However, when it comes to the luxury market, UGC doesn’t cut it. Viewers, buyers, and sellers demand professional content. A recent Pew Internet & American Life Project study suggests 62% of online video viewers report their ‘favorite’ internet videos are those that are professionally produced. ‘Videos produced by amateurs’ were only given a favorable response by a young male demographic.

Companies like OnlineWalkThru (Now LuxuryWalkThru), Turnhere, and RealtyVideoUSA produce videos befitting the luxury market. The world’s most prestigious properties deserve the world’s most cutting edge video technology and professionals. Hopefully, only a few luxury real estate professionals have contemplated, or dare I say, actually produced their own videos. When it comes to a luxury property video many professional techniques are essential: lighting, voice-overs, scene coordination/transition, interviews, quality equipment, and panning effects. Using a professional is the only way to ensure a property’s most exquisite features are captured in their best possible light.

Playing a word like PGC in Scrabble will surely forfeit you a turn. However, playing a game like PGC in luxury real estate will put you on the fast track to success. And who knows, given the right ‘qi’ you may still come back and win that Scrabble game. Tell us what you think. What defines video PGC? How is it changing the luxury market? What is the greatest Scrabble word you have ever played?

Photo: Phil Yanov Blog

In 585 B.C two Middle Eastern armies (the Lydians and the Medes) were locked in battle when all of a sudden…the day was turned into night. The site of the solar eclipse was so astounding both sides dropped their weapons and agreed to peace. Image thousands of soldiers about to give their lives in battle when instantly they are brought to their knees in fear and awe. No picture, story, or modern movie could truly capture what a site that must have been. One would have to have been there in person to grasp such a moment.

It is the same with real estate. Nothing is better than seeing a house in person. The intent of creating a luxury video is not to sell real estate unseen. Nothing can replace a home viewing. A video motivates buyers to visit the property and contact real estate professionals for more information. Videos generate more leads, buzz, and excitement than pictures or virtual tours. Videos do not sell a house, but they do get people into the house. The romance and story of a video create an emotional bridge. The emotional bridge moves buyers to take the next step and schedule a personal showing. With more and more international buyers entering the market getting a listing to stand out is essential. An internet video dramatically increases exposure to international home buyers and investors.

According to NAR, 44% of luxury agents generate business outside the United States. As the dollar weakens globally US second homes and investment properties will continue to be alluring for international buyers. Real estate professionals that forge relationships with international buyers and investors will lead the industry. The ability to create quick, viable emotional connections will be indispensable in this competitive market. A video is the means to stand out from the pack .

The affluent spend 76 hours per week on the web. They are not playing video games or downloading the latest series of Survivor. Instead, affluent web users are doing research, business, and staying connected with friends and family. Simply put, they aren’t wasting time. If they are searching real estate a video is the opportunity to make a personal connection. It is the chance to market one’s experience and expertise. It builds trust, authenticity and shows knowledge. Like the events surrounding the eclipse in 585 BC, the power of seeing real estate in person can’t be replaced. However, a video creates and illuminates the story and emotion of a listing. The story and emotion will bring people into the house.

Photo: The Bracket Board