Penny-Pinchers in the Distressed Market

By Sarah Taylor
July 31, 2008
Regarding the issue of price and packages, I know there has been much discussion. Yet, I feel the need to re-hash the topic and take into consideration something I haven’t seen mentioned much.

Video hasn’t hit my market and I’m excited to bring it here. I saw the opportunity, I enjoy what the real estate market brings to the community. I am not a professional videographer but I AM a quick learner and have made great strides in perfecting my shooting and learning FCP. That’s my background.

In doing research and talking amongst my peers (including my new web designer), the common perception is that video is for luxury homes. – And I attribute that to the lack of exposure to the video concept in my specific market. Enter my company – Local Exposure – I plan to change that perception.

However, the question is how do you offer AFFORDABLE video to a distressed market? One out of 10 homes in my county is a foreclosure or short sale! I haven’t tried it yet, but to walk on the scene and charge $200-300 a pop? I’m guessing that will go over like a lead balloon…

I live near the ocean and do have access to waterfront, multi-million dollar homes, but - call me crazy – I’d rather stick to the average SFR because they come in a lot more quantity and the owners aren’t picky, rich people.

So how do you capture the majority of the SFR market with an attractive price that they see value in?

My angle:
I'm just starting up in my market and plan to roll out an "intro" fee of $99. My target will be the REO agents, short sale specialists, FSBOs, and traditional agents. As video becomes known and becomes more of a staple I will obviously increase prices and offer more services.
I feel that if I offer video affordably to help move the over-supply of inventory on the market, I will have a better chance of reaching more clients and establishing my company faster than if my menu consists of high prices that luxury agents are used to paying.

The prediction for my market is that it won’t “turn around” until late 2010. With that knowledge, I’d rather be seen as an instrument to help agents – a tool in their toolbox.

How are other video businesses addressing realtors pinching pennies in this distressed market?
Save time.
Save money.

Reach more viewers with every video.
Find out more by contacting us now!

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