I had a theory in the spring of 2016: a quality home listed with a quality listing video to highlight its best features would sell faster, for more money, and would capture the attention of more potential buyers who may be interested in purchasing. So, when the right opportunity came to list a beautiful home for close friends – I asked if I could shoot a video at no extra cost to them to test my concept and highlight their home’s best features.
Before I give you my personal results from this listing, let me give you some powerful nationwide statistics. According to a study performed by Google and the National Association of Realtors: 1) Homes listed with video get four times the inquiries of homes listed without video and 2) YouTube is now the top video research destination for House Hunters. Also of potential buyers who use video in their search 86% use it to research a community and 70% use it to tour the inside of a home.
Sometimes photos on a listing can be deceiving or capture an unusual angle, but video brings a listing to life. Who doesn’t love a great movie or a great story? People don’t just buy a house, they buy a home. So, tell your home’s story – highlight the best features, the history, the surrounding area, the little things that make it special, and the reason you fell in love with your home in the first place. I’ve found the best way to do that and to produce the most results is through a high quality professionally produced video.
Does producing a listing video take more front-end time, cost, and require more creative thought and expertise than just taking the usual photos – absolutely! But it can be extremely efficient to in essence show your home once on camera to hundreds of potential buyers to create interest and speed up the selling process and decrease the number of “non-interested” showings because they’ve already toured your home once on video and have a high level of interest already. This means you don’t have to spend extra time cleaning and to stress about getting your home “show ready” as often because you’ve already prequalified buyer’s interest and are now only showing buyer’s who are essentially qualified and ready to make an offer.
So, what were the results of my personal first video listing test two years ago? I was right! Not only did that listing become the highest price home that sold in that neighborhood that summer, I went back to check the data for this blog and found the average sales price in this Kenosha, WI neighborhood from April 2016 to August of 2016 to be approximately $108/sq. ft., while my listing with the video sold for approximately $114/sq. ft. or approximately 5+% higher. Not only that but we had the house under contract within 5 days after multiple bids and over 1,000 views on our listing video in the first few days. Of course my client’s home was absolutely beautiful which aided the results, but I think the data points to the power of video and a compelling argument to hire a real estate professional experienced in this marketing area to help sell your home for the greatest efficiency and the best results.