In a move which many people were initially sceptical of, Heritage Property has this week launched a new online TV channel which will feature a walk-through video of each and every property the company is instructed to sell or rent. Early indications suggest that online TV advertising of properties is 48% more effective than traditional advertising means. It is unlikely that online TV property advertising will become widespread throughout the industry, at least not for some time yet, but there does seem to be scope for significant improvement in sales.
As the UK property market continues to push ahead, Heritage Property, which operates in the South Warwickshire area, has been looking at new ways of advertising property and innovative means of interacting with potential buyers.
How does a walk-through video work?
A walk-through video is exactly what it says, a professionally recorded walk-through video of the property but perhaps something which adds to the attraction of online TV property sales is the ability to focus on various plus points in the property. These may be attractions which are missed by the naked eye, perhaps not always picked upon by visitors but the ability to actually focus the mind of the online TV channel viewer is priceless.
Quote from PropertyForum.com : “While there is no doubt that the 37 storey skyscraper at 20 Fenchurch Street, London certainly catches your eye as you walk past, it seems that property in the region really is “red hot”.”
While these videos are not necessarily expensive, the fact is they are an additional cost on top of everyday property advertising expenditure. There will be many customers who prefer to see properties themselves as some people may be a little sceptical of the professional and polished walk-through videos. Would you see any potential issues with the house? Would you see any little decorating mishaps which you might spot with the naked eye?
Standing out in the crowd
As we touched on above, the UK property market is going from strength to strength and indeed local and national estate agents are being forced to work harder to attract new customers and new business. It will be interesting to see if the online TV property model can be expanded to other areas of the UK and indeed whether Heritage Property is on the verge of something special.
Innovation is not necessarily something which has been readily associated with the property and estate agents sector where traditional advertising methods have been the norm for decades now. The Internet has been used to a certain extent for very basic online adverts but perhaps now is the time to look further ahead, look towards different methods and fully utilise the relatively inexpensive cost of setting up an online TV channel.
Would you trust an online walk-through video?
In many ways it is down to personal preference whether you would prefer to see a property in real life or whether you are happy to see a professionally produced video walk-through. In some ways the video walk-through will attract criticism whatever the quality, if it is to polished people will suggest it looks too good to be true and if it is “amateurish” people will question its real value.
However, there is no doubt that many in the property industry will be interested to see how the Heritage Property online TV channel performs, especially in the current buoyant market.