Three questions for real estate video

By Phil Thomas Di Giulio
August 1, 2013
This Thursday I have the honor of sharing WellcomeMat's story and product at an event called The Product Group. Managed by Jeremy Horn (@theproductguy), the meetup group features a wonderfully diverse and talented group of NYC product people (managers, designers, marketer, etc). In an effort to facilitate conversation, I've decided to post up a few questions here on the Hood. Whether you're attending Thursday in NYC or just stopping by here for a visit, feel free to comment on any or all of the questions below.

Learn more here:http://bit.ly/1cr3krd

Thanks all! - Phil


The Product Group

Pictured above: The Product Group


1. We see properties showcased all over Bravo and HGTV, but is the real estate industry truly ready to embrace video? WellcomeMat was originally conceived in 2005 based the following assumptions: (1) an increase in internet broadband penetration would enable greater consumption of online video, and (2) the costs involved producing professional video would drop dramatically thereby providing more accessibility to high quality content creators (filmmakers). In turn, our hypothesis concluded the combination mass adoption with lowered costs of entry would lead real estate agents and marketers to leverage video as a more efficient means to showcase properties and places via the Internet. 

Fast forward to 2013 and while our assumptions turned out to be accurate, today only approximately 3% of real estate agents use full motion video to market real estate online. Yet in 2011, it was reported that 73 percent of homeowners said they would be more likely to hand their listing over to an agent offering to do video--today this number is closer to 87%. Are you seeing video more in real estate and, if not, would you like to see more video? A few examples might include the story of a condo on the upper West side, a home for sale in Eastern PA, a small town in New Jersey all told online through full motion video?





2. Where should brands put their video content online? WellcomeMat's SAAS platform helps real estate brokerages and professionals upload, manage, distribute and measure video content on their web domains. Our model calls for us to drive web traffic (eye balls) to all partner and member websites (Read: http://bit.ly/12nKcZG). We believe this strategy helps give our partners greater control over their content, build affinity for each partner's brand--as opposed to the third party host such as YouTube or Vimeo--and provide more opportunity for capturing customer leads. Is this a winning product strategy for real estate brokerages or are they better served simply managing content via a free video host/aggregator such as the aforementioned?

traffic-good-vs-bad


3. When it comes to video, does length matter? We're often told viewers have short attention spans online. Are users truly fickle or do they just need more context as to what's (coming next) inside each video? In 2012, WellcomeMat was awarded patents by the USPTO for interactive video technology (read: http://bit.ly/13awlDs). Our product helps content owners surface valuable information within their videos by tagging each moment ('video chapters') along the timeline. In WellcomeMat's case, this means content owners could specify important changes along a three minute video tour (i.e. bedroom, bathroom, roof deck, etc).



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