This Week In Real Estate Video #109 – Here’s An NYC Agent That Believes in Video!

May 9th, 2014

SkyGarageLast Monday a good friend that trades stocks and watches CNBC all day called and told me about the  Hollywood style property video that aired on CNBC for Ryan Serhant’s $23M NYC penthouse listing. This gets my nomination for property video of the week!

The video was produced by Disco/Fry  & Bridgit Media. The about page in the video lists the crew of 13 involved in making this video along with their Hollywood style titles.

The video does a great job of marketing the exclusiveness of Penthouse 1 at the Sky Garage by showing how your Ferrari, with license # 20011th (the address of this penthouse) can be taken up on an elevator to your penthouse.

The CNBC article on Ryan’s website states that:

Serhant spent $50,000 of his own money to pay the camera crews, actors and chopper to make his video. While he doesn’t appear in the production, he’s confident the trailer will help. “

Yes, the trailer will clearly help when it’s shown on CNBC during prime time to the crowd that can afford this property! The $50,000 production cost is probably peanuts compared to what it cost to to a 1:30 ad on CNBC. But it’s probably well worth it. It’s great to see a listing agent that is willing to do aggressive and innovative marketing. Good show Ryan!

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20 Responses to “This Week In Real Estate Video #109 – Here’s An NYC Agent That Believes in Video!”

  • Slick video that shows very little of the actual property. Isn’t that the point?

  • Great video! Love the music, the story line, the presentation, and the choice of actors. This video sparked my interest in wanting to learn more about the property. Well done, Ryan and film crew!

  • Yep. If I could make a 2 or 3% commission on $23M, you bet I would spend $50k. I also heard on CNBC that homes in Atherton, CA are selling in days over $10M. I’m in the wrong market.

  • Yours truly is his still photographer.

  • This is really great;however, how many of us would use this for marketing. I think creating something that is more realistic to the average person would be helpful.
    Not to take away from the creativity of this video, I just don’t think it is practical for most of us trying to create sales. The video is all hypo and no substance.

  • I really like the story, thought the models were excellent. I would cut the helicopter shots, trim the car shots and throw at least 30 sec into the property. As a stand-alone property vid it could do a lot more to sell the property. Still – give the agent an A++ for getting the property exposed to the market. At the end of the day, that’s really all that matters.

  • I think it was an excellent way to present he romance of the property. A visual inventory of the place is not necessary as the whole point is selling sizzle that gets a prospect to visit. After that video, a prospect will most likely be evaluating the property with some romantic bias despite their best intentions at objectivity.
    I bow before a great talent.

  • Terry, let’s be generous and say the listing agent nets a 3% commission, which would be $690,000 if the apartment sells for the listed price. $50,000 is 7% of the net commission. There will probably be other significant marketing expenditures as well, such as still photography, fancy brochures, and maybe a lavish party for the brokers’ open house and ads in upscale magazines. That is a significant amount of marketing expenditure as a percentage of a commission that might not materialize for this agent. However, if also viewed as marketing for the real estate agent, the expenditure seems to make more sense, especially since the novelty of the production has garnered exceptional media coverage.

    And, yes, I recently shot a home in Atherton, CA, that was listed at about $13,000,000 which sold in 2 days. This was a large mansion on a large lot. However, I am also routinely seeing $4,000,000 to $6,000,000 homes around here selling in a matter of a few days to a couple of weeks, and, while typically very nice homes, these are not grand estates.

  • This is amazing! The whole point and reality is that this property is beyond average and is trying to grab the attention of a select market. They were right go for full sale emotion. And that it isn’t overtly selling the property makes it more viral in my opinion.

    Oh Atherton…

  • Thought the video was very nicely done. At the end of the day it has people talking so its a success.

    The only thing I sometimes have a hard time with these “lifestyle” videos is that people with that kind of insane money dont really need to be sold on a lifestyle they clearly already live, especially by agents, videographers etc who in all honesty have no idea of what living that lifestyle truly is other than what they see in movies etc. The expensive car, the helicopter etc probably does zero to impress the select few who would be interested in this property…they either already have these toys or can get them whenever they want. Its most likely more to impress the agents peers and competition with production value and WOW factor.

  • I don’t think the penthouse is actually finished so maybe that’s why there’s no shots of it in the video. The images on the listing website are renderings.

  • Here’s the difference between a video that could be used for insurance documentation and something that will draw people in to take a closer look.

  • I think this video will also serve to market the realtor. I’m sure some people are wondering about what else he has listed.

  • Ryan is one of the brokers on Million Dollar Listing. This was a well calculated listing and will be seen by millions of eyes.

  • This is not a real estate video. It’s a piece of marketing that perpetuates the image of Ryan Serhant. He’s got a charismatic personality that has landed him on network TV. And that has enabled him to move up the ranks as a high grossing agent rather quickly. Kudos for Ryan for thinking outside the box. But this video more about fueling the “Ryan hype” than it is about selling the penthouse.

  • Very we’ll done! The secret to this video is to have the understanding of the life style of someone who has $23 mil to spend on a home (probably all cash). Do you live or understand those people?

  • Good video. I was wondering about why no shots of the property and then saw the comment about it still being under construction. If so, great teaser for it!
    Minor detail – it’s not a Lamborghini, it’s “only” a Ferrari (as a Lambo owner, I know).

  • @Travis – Yes, I thought that I recognized the Ferrari “horse” logo on the front but since it was so brief and hard to see I went with the CNBC article’s assertion that it was a Lamborghini… I’ll get that fixed.

  • Too funny, I was just reading an article last week i think in the NYTimes. About, the next big wave, especially in Miami…are car elevators that go directly up to the penthouse. Seducing the super rich to have something they thought they didn’t even need. Hard to believe though that it cost $50k to produce this commercial? Even so, marketing dollars well spent. A split commission would be a cool $690k, minus 30% for taxes = $483k -$50k … so the agent is probably looking at about $433k. I’m no math wiz but that’s quite the nice pay day. I’m sure there are a ton of other print media and wooing expenses on top of that too. I would have loved to see more real estate in the commercial. Very high production values. Very well done.

  • Bravo!

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