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Remember The Over The Top Risque Videos - They Worked

In: 
Published: 17/06/2011
By: larry

Ian Adams, Australian Gold Coast agent that platinumHD.tv shot the risque videos for back in Feb and Mar of this year left a comment recently about the results of the videos. Despite what you may have thought of them, they did their job. The property is sold and the listing agents believe the videos played a major role in the sale.

Ian said:

Happened to be looking at some of our web items and came across your feedback, just FYI, House sold at auction $3.85m including furniture. Over 100 people attended the auction on site. Brett and his team from Platinum did a fantastic job , bottom line is - it sold in a very tough market and other listings in the area are still for sale on dreary real estate websites getting a a few hits a week!

So, in case anyone thinks that these videos wouldn't sell a property, the listing agents are convinced that the videos worked and worked well.

19 comments on “Remember The Over The Top Risque Videos - They Worked”

  1. Thank you Ian for acknowledging our work. I don't believe flashing the odd tit sells property. I think you have to have a good, solid idea. An idea that promotes the property. The property must come first. And, no doubt, you have to have a great Agent. But sex ain't no turnkey sales weapon. Our duty of care is to market the property. We just filmed another piece for a Brisbane company called the Shaw Property Group. The concept revolved around a male model. Mercedes Runway stuff. This guy commands $4,000 a day as a model. He's a pro. The home...it cost $10 million just to build. It puts a different slant on the whole concept. When all is said and done though, it comes down to the idea. HDSLR technology has put depth of field into everybody's hands. We can all make it look good. But where is your story?

  2. Well done, and no surprise. Brett's right -- while boobs no doubt created a certain amount of buzz, I think it was the creativity (and high production value) that ultimately worked. I think the real estate world is finally coming around to realizing that they're not in the brokerage business....they're in the marketing business. Hats off to Ian Adams for being ahead of the curve!

  3. Have to agree with Charlie, was probably more the free press than the actual video that helped sell the property. Would love to know if there is any solid data or information to support the agent's feeling that the video helped sell the property? For example did the buyer see the video and/or news piece before placing a bid or visiting the property?

    I've spoken with a couple agents recently that stopped using video because the feedback they were getting from buyer's agents was that they weren't being watched. Either because buyers didn't know they existed (until after seeing the property in person) or they weren't being syndicated to third party sites via IDX.

    Alan

  4. One thing that many real estate vendors just can't wrap their heads around: There is absolutely, positively only one thing that sells a property. Period.

    PRICE.

    You can throw tens of thousands of marketing dollars at an overpriced property, and it will NOT sell.

    You put market a properly priced property with one exterior shot taken by an iPhone and it WILL sell.

    Videos, photos, flyers, whatever you want to throw at a property may help sell a property faster, but only ONE thing actually sells a home. PRICE.

    If this property sold, it was due to the correct price. Not the video, not the boobs.

    Did the agent get more listings based on the video? If so, it was a success.

  5. Anyone with any experience valuing real estate knows that there is seldom one specific, correct value for any property. There is a range of reasonable values, which could be as great as 10% in some cases. A stronger marketing effort may tend to help a property to sell at the higher end of the range of reasonable values. With higher-priced properties, the difference is not chump change.

  6. Marco, your right, I can't wrap my head around that.

    With all due respect. I think you know your last post does not represent reality.
    This is not the stock market, it is real estate. Are you saying one has ever in the history of real estate transactions bought a property at a discount? No one has ever overpaid for a property? Ever? There is no relationship between time and price? So if you put one iphone photo on the mls and the property sits with no showings and you ask your seller to lower their price every month until it sells, when it does sell it finally was priced correctly and should be considered a perfect comp for all the other properties in the neighborhood?
    If you created marketing that engaged thousands of qualified buyers and presented them with all of the best qualities of a property it will sell for the same price as if you used poor marketing that did not engage buyers and only gave them a partial information?
    If you can sell a property for a low price in 30 days and a higher price in 12 months, which is the correct price?
    Property is worth different amounts to different people. If you have the right message and get it in front of more people you will find the person who values that property more than most. If you use iphone marketing then that person may never know that property existed or buy another and it is too late and you are left with the people who do not value it as much.

  7. @Marco- I agree that price is the primary factor in selling a property. If the price isn't right, no amount of advertising will sell it. However, even if the price is right or even low if no one knows about it, it won't sell either or it will take much longer to sell. There have been two studies (that I've reported on here on that PFRE blog) that have shown very conclusively that if you do professional quality promotion a property will sell faster and for more.

  8. The idea that price is the only factor in selling something is patently absurd. Do you really believe that the genuine Gucci bags do a better job of holding a woman's makeup kit than the ones they sell at Target? So how come the Gucci ones command such a high price?

    Duh. Marketing. (they're also made really well, with excellent materials, but without the branding, that would be worth about $50.)

    Contrary to what the old-school industry insiders believe, people don't buy houses. They buy lifestyles. Yes, they care about the quality of the cabinets, and the termite report, and the square footage....but at the end of the day, buying a house is an emotional decision, not a rational one.

  9. Heath is spot on. Buying Real Estate, unlike a stock, is emotional. And you don't know what going to trigger that emotion in a property.

    Marketing and Price. That's what sells real estate. Both have to be done right to get a sale. And if you have great marketing, you might just fetch a higher price.

    Example: this home sold in 3 days, multiple offers - at a price much higher than the area supports. I feel emotions played a huge part in that.

    http://www.steamboatsmyhome.com/131156/1-downtown-area/other

  10. I think the media attention this listing received brought potential buyers to the Auction. Auction to me indicated that someone had to sell this property rather than moving it through traditional channels. Typically auction means quick sale at a price. Was it a good price ? I don't know but I have shot homes for auctions and I can safely say that I have seen some go at very under market prices or one could say Auctioned homes sometimes set the tone of the new market. Either way the marketing would have helped this one immensely and the price also got the bugger sold.

  11. Actually auctions are a bit deceiving. People BELIEVE they are getting a firesale price, but we have sold several high end houses at auction and they brought higher than the list price. A lot comes to the skill of the auctioneer, and their experience with both the high end house AND the high end bidder. Building the emotions throught the actual auction and their pre-auction publicity. That said, hearing the first bid a half of anticipated minimum price does weird things to your stomach. Oh, and incidently, as far as traditional means, typically, Realtor's commission is protected as part of the agreement with the auction house.

  12. MJ -- it's a bit different in Australia, usually auctions are used for properties that are out of the ordinary and the agent believes they may attract enough interested bidders to get in a bidding war.

    I said before that it was good marketing, and I think most can agree that generally the RE industry as a whole have a lot to learn about marketing.

    The agents who can understand that the times have changed and can learn from what other industries have known for years about marketing and advertising, will survive the next few years (which are looking to be quite tough in most markets around the world).

  13. Ok .... that makes sense then. Here in the States Auctions are gaining some traction but rarely are they bidding wars. I agree the marketing in RE needs to change and become more dynamic.

  14. Auctions are the dominant sales method in the Australian market regardless of price or market conditions (generally). They achieve the best price on the day that the market will pay, are transparent in process and maximize this concept of emotional buying.
    What Brett and the guys at Platinum HD did was product a video that created publicity and lots of it for the agent (not the property). Did it sell the house? We won't really know. However what we do know is that that type of production is very market-specific. Would it work in New York, Chicago, Melbourne or Toronto? I don't think so. LA, maybe...
    Great production values though...

  15. Why wouldn't it work in those markets?

    Is real estate somehow different than every other industry?

    I know for high end car auctions in the US, the thing that makes them successful is attendance and publicity drives attendance. Would the auction for this property been as well attended without the video?

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