Markets & Prices
Last updated: Thursday, May 23, 2013
Video-marketing Real EstatePosted: Tuesday, July 17, 2012
The difficult situation of property market has challenged the patience and fortitude of enterprises. They have managed to create many approaches to customers thanks to reasonable price and high efficiency, among which video marketing seems to be an applicable method in recent time.
The advantage of video marketing real estate is time saving for purchasers, helping them view houses and easily compare and choose appropriate real estate products in the short time before going to the place of transaction.
Ms Le Huong, director of a real estate communication company, who owns a real estate video marketing website, said that this new method has appeared on the market only in a short time ago and is still quite unfamiliar to many people.
This business method became quiet for a while, but so far, in the long gloomy real estate market, it has become gradually useful and in the future, it will be an efficient marketing channel for investors and brokers.
According to Ms Huong, when someone needs to sell houses or apartments, the company will appoint a team to cast and record information about direction of the house, area, address and telephone number, then post them on the internet. From there, anyone wishing to buy the property will have a look and contact the seller if they are interested.
Ms Huong also shared that initially the company will not collect any fee when posting houses or apartments’ information on its website, after a period when such unsold houses or apartments’ positions are gradually downgraded in the list of houses or apartments, those who want to upgrade their houses or apartments’ positions back to the top, must pay a little fee, and the company also gets money from attracting advertisements of real estate projects.
When house buyers and house owner meet and make deals, the company also does not charge brokerage fee, it only asks the house owner to acknowledge the company about the successful transaction.
Mr Vu Minh Tuan, a salesman of a big communication corporation in Hanoi has bought a house of about VND4 billion in Dinh Cong, Hoang Mai after nearly one week of searching in a video marketing website.
Mr Vu Minh Tuan spent a lot of effort seeking the information on real estate trading website and even lost money to “the broker”, but when he got there, he was so disappointed.
According to him, the video has introduced precisely about the house status from the pathway, surrounding area, frontage and overall of the entire house to the inside, such as background tiles, walls, stairs, windows, toilets as well as rooms... In fact, the real house is not much different from the house in video. In case of interest, he would contact the seller and make an appointment.
Some risks still remain
This video marketing method is efficient to both buyers and sellers, helping them to save time and cost. Instead of wasting a whole week to observe dozens of houses of interest, customers only spend nearly one hour to look through video. Furthermore, transactions are conducted directly with the owner, so customers do not have to pay any fee for dealers.
Additionally, this video marketing method will significantly contribute to accelerate transactions in the retail segments. This service may be strongly invested for its future development. And it also reduces the situation of decoys, blowing prices and hiding information to gain profit. Consequently, every successful transaction must spend a significant amount of discount to the decoy, normally from 10 to 15 percent of total real estate value.
In another fact, most of real estate information for sale is mentioned in short fragment with only some details about area, frontage, number of floors, rooms, and electricity and water services, so buyers cannot imagine the actual real estate conditions.
Moreover, because some sellers want to attract customers, they try to exaggerate the advantages of houses, lands and pretend to ignore their disadvantages, as the result, the buyers easily have wrong imagines and build up a lot of expectation before examining the place.
Therefore, video real estate marketing is a nice idea, but as recommended by an executive director of a well known joint - stock company in Hanoi, the buyers need to study thoroughly in order to find out a prestigious website, which possesses best services, comprehensive video; and they also should compare and evaluate carefully the information between websites and favorable houses before checking on-site.
In opinions of many experts, video real estate marketing method has reached a long step to the transparency of real estate information, and it seems a solution to unfreeze the liquidity of real estate market. By that, in order to be effective, real estate companies must become a direct and transparent information channel between buyers and sellers.
However, many people believe that the information would be helpful if the website only serves as a referral and buyers may contact directly to the owners. In case of leading to an intermediary or intermediate by itself, this usefulness will become annoyance because the buyers must go through “decoy” and will lose money.