Author: Charlie Dresen
Real estate is changing and no one is looking back. Therefore, agents and any industries that support the real estate community––photographers to videographers to stagers, all need to be aware as well. I see this as an opportunity––a differentiator to set your business up for success. Real estate is a service industry and those agents offering more services will be the ones who thrive in these challenging times. As well, those agents will be looking for creative partners who not only offer professional photos and videos, but offer more services that allow potential buyers to view a home utilizing technology.
Being a real estate agent for 17 years, I’ve seen first-hand how technologies have transformed the industry and my business. For those of you who don’t know, I’m also a creator and I use video extensively to boost my business. I see firsthand, the growth of my business directly correlates with the use of these technologies. It’s my philosophy that to be successful in an over-saturated market, one needs to elevate their game and offer more relevant services than the competition. In real estate, this is no different but when the market tightens, or the industry changes like it is TODAY, the cream rises to the top.
The real estate business is OPEN. But some states are not allowing “showings” or “open houses.” So, without showings, how can the real estate business continue? Well, this is where opportunity occurs.
With Covid-19, real estate is pivoting rapidly. The buzz is “virtual tours” or “virtual open houses.” It’s all about bringing the home to the buyers. This is not a huge shift for some progressives within the industry. As many of us know, many agents have been utilizing these tools for years now. But with the current health crisis, these technologies have become mandatory to sell a home. It’s highlighting technologies like video, 3D tours, or even Facetime or Zoom “open houses.” More importantly, it’s educating the general public to expect more from the real estate community––to be able to accurately see, understand, and transact real estate remotely. This is not only important in our current situation, but also into the future when buyers will appreciate the ability to do a lot of the pre-work of viewing properties remotely prior to, or even all the way through closing.
So, in today’s real estate market, agents are scrambling to get videos made, to get 3D tours of their listings; many are even pulling out their smartphone and shooting videos for social media. Whatever it takes to get noticed in the market today, many agents are playing catch-up. That said, I can’t overstress the importance of quality. A professional real estate video that not only tells a story, but is visual appealing and draws buyers in with emotions will go much further than a walk-through shot on an iPhone.
See example here.
I also believe there will be a new wave of technologies directly resulting from these real estate industry changes.
When we emerge from this pandemic, the real estate industry will have progressed forward. The “new normal” for real estate will be a lot less driving around viewing homes and a lot more of the preliminary efforts being done online. What if every home for sale had a 3D tour and a personalized video? Utilizing these tools will not only save time, but will help streamline the efforts for buyers and sellers and improve the overall experience.
Thus, for creators out there, if it hasn’t happened yet, expect to get more requests for 3D tours, for videos, for personal walk-throughs––anything you can think of to help bring the home to the buyers will be needed. For those real estate agents looking for a boost, reach out to photographers, video makers, companies that make 3D tours, and make sure all your listings utilize these marketing technologies.
The effect Covid-19 is having on the real estate industry is profound. But more importantly, it’s educating the public of these marketing tools and moving forward, sellers will demand these technologies be used to market and sell their home. And buyers will begin to expect to see these technologies being used when they browse for homes online. We are not looking back. Real estate is undergoing changes daily and it’s time to adapt.