VIRTUAL REALITY
A room with a view – imagine it on film!
Added benefits Virtual tours can even help create a new revenue stream. According to Ben Quinley, about half of Audioagent’s customers are using the tours to sweeten their offer, winning instructions by offering a tour for free; but the other half are using the tours to create a separate chargeable product. That’s the same for interactive floorplans. Stephen Gravett says, “Some agents are giving them away as a sweetener, while others are charging up to £40.”
Videos are particularly important for overseas buyers as it helps them make an informed decision.’
While virtual tours remain a nice-to-have, Jonathan Watkins believes they are absolutely vital in the newbuild sector, particularly for off-plan sales, as they can help establish trust and give a feel for the property. “Everyone should have a movie of the building before it gets built,” he says. “If you’ve got a brochure, you’ve got to have a movie. It’s a no-brainer to have moving imagery; for a couple of hundred pounds you can have a killer product.” While the big housebuilders used to do
this kind of work in-house, increasingly they’ve been outsourcing, as the recession made them pull back their staffing levels. That has helped create a market for companies like Rescom Media, and could help them achieve economies of scale, driving down the cost of the technology. If that’s the case, then use of video will spread to the resale market as it becomes more economical. “We can also let agents know how many virtual viewings he has had which will demonstrate their cost effectiveness and how perfectly these tools can work in his and his vendors’ interests,” says Amanda Lindsay. Eventually, agents will come around to
These estate agents both use
estateagentsonfilm.co.uk. for their videos.
30 NOVEMBER 2010 PROPERTYdrum
the idea for their sales, as they show all the property’s features and benefits in the best possible light thinks Paul Jaszynski of Photoplan, “There are so many benefits, you only have to do a few sales where 360°
virtual tours and ‘videoettes’ were used to see what a great tool they are. They increase the quality of viewings, they make searching for property far more interesting and enjoyable for everyone. This is particularly important for investors/buyers from overseas, as it helps them make an informed decision without having to visit the property at all.” Virtual tours and videos are still often
used only on high end properties. Few agents are yet creating a virtual tour for every property, though Stephen Gravett points to one in Docklands that has done so. Some agents are also using video not for their property sales, but for general marketing. Douglas & Gordon has made a video for each of its branches, while Marsh & Parsons is making a video newsblog but, as Lee Hilliar says, “they’re not convinced of the value of property filming.” Things are certainly changing. A new
London portal, Fabric Property, may set the pace. It includes Savills, Beauchamp Estates and Chesterton Humberts among its advertisers, aiming at the top London market, displaying prominent video content, particularly on featured homes. “Video is core to what they do,” says Hilliar. It may set an interesting trend.
What’s your experience? Share it online at:
www.propertydrum.com/articles/video
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