When it comes to LUXURY real estate it used to be all about Location, Location, Location. And while this may still be true, there is another word that has become just as important if not MORE important than a homes location, it’s the other “L” – LIFESTYLE.
We get contacted on a regular basis from real estate agents, lenders, brokers and thought leaders around the country inquiring about real estate video marketing and how to best leverage it in their real estate business. Recently we were interviewed by LUX VT one of the most recognized luxury real estate video platforms about the best way to implement lifestyle videos in luxury real estate marketing. Are they effective? Should real estate agents be using them to market properties and if yes – Why? How? When? Who?
So, their questions and our answers are below.
Why did you company decide to specialize in lifestyle videos?
Hub Media Company does not only specialize only in lifestyle videos, but all types of real estate video, cinematic HD video tours, community and subdivision, agent profiles, testimonials, green screen and more. We started producing lifestyle videos when re realized how powerful they can be in helping the consumer mentally move into a property. No one NEEDS a million dollar home, what they are really buying is the lifestyle – the members only club, the golf course, the fitness center, the concierge, the prestige, the views, the gourmet kitchen, the car elevator. Often these aspects are left out of the traditional real estate video. By adding people (sometimes actors) in the video demonstrating what it could be like to LIVE in a property or community we are able to get a potential buyer emotionally invested in the property. This increases the likelihood of an inquiry for the listing agent. Lifestyle videos are not right for most types of properties, we reserve them for only the best properties. Those with the onyx or marble countertops, the negative edge pool overlooking INSANE views of the valley below. Properties that clearly stand out from others.
Why do you think they’re good for luxury real estate marketing?
Lifestyle videos are good for luxury real estate marketing for a few reasons. 1) They are completely different. First of all it’s video. Nationally, less than 12% of real estate agents are leveraging video in their marketing and when you factor in the agents that are doing it correctly (hiring a film maker) that number is more like 2%. The consumer clearly prefers video and given the choice, 80% will choose a video over one of the other 10 links in a search engine like Google. 2) People buy emotionally and justify logically – later. Lifestyle videos help the consumer imagine the possibilities of calling a property or community home. They can envision what could be. 3) Videos get found online and last longer than any other type of marketing currently being used in the real estate space. The shelf like of a postcard or flyer is reduced to milliseconds, whereas a video can literally last forever. A properly optimized video is also 53 times more likely to appear on age 1 of google compared to text alone. Given the choice of choosing between an article, pictures or a video which would you choose? 4) Lifestyle videos create a unique selling proposition and value proposition for the agent. Luxury sellers and buyers want different, they want unique – lifestyle videos are both.
What are the necessary components of a successful lifestyle video?
A good lifestyle video has a few main components. The first is the property. As I mentioned above, lifestyle videos are not right for all properties. The 2nd is the people. Who will be in the video? Who is demonstrating the Viking or Sub Zero 8 burner range? Who is swimming laps in the olympic size pool? Who is enjoying a glass of wine overlooking the amazing views? They need to be attractive and represent the target market of the video. It won’t help much to have beautiful 20 somethings in a lifestyle video if the target market is a baby boomer, in fact, it could be detrimental. Third is the story. The story is actually the most important aspect of any video we shoot. Who is in the video? What are they doing? Why are they doing it? What is the message are we trying to convey. Fourth is lighting. When possible we shoot all of our lifestyle videos leading up to “Magic Hour or “Golden Hour” as it is also known”. This is the 30-60 minutes after sunrise or 30-60 minutes after sunset when the sun is lower on the horizon. The color of the light is saturated with less white which produces beautiful shadows. This lighting helps properties and people look beautiful.
Some companies make almost feature length films complete with scripts and a plot line. Do you think this is over the top?
I guess it depends on the property. I’ve seen elaborate videos over 5 minutes long with helicopters dropping off men in black as the woman dials 911 and describes the property she is in. I’ve seen videos with models and Bentleys and 15,000 square foot estates that last 3 minutes. We recommend videos be short to retain the attention of the viewer, typically around 3 minutes for a lifestyle video. The goal is not necessarily to sell the property from the video although this certainly does happen sometimes, the goal is to create emotion that results in an inquiry. People go to the movies for 2, 2.5. 3 hours because they are interested in the content. Same is true with lifestyle videos. We want to get the viewer to the end of the video where the agent can make a cameo and provide contact information. If this doesn’t happen, the viewer may love the house and call their agent because they never got to see the listing agent – how passionate, professional and educational they are. They may never get to envision this type of agent marketing their property.
What is the price range for your videos?
Our lifestyle videos can range from $2500 to $5,000. But it’s not uncommon for a lifestyle video to cost $20,000+ in markets like LA, Malibu, Miami, NYC etc. The more people it takes to shoot the video the more expensive it will be. Same is true with the gear used to shoot the video, the cameras, the lenses, the aerial platforms, rented cars, models, actors etc will all inflate the budget.
How long does it take you to produce a video from start to finish?
We can typically shoot a lifestyle video in 2 days and have it edited within 5 – 10 days, but this can vary depending on the size of the property and the story.
A lifestyle video can be as simple as using the home owners in the video or as complex as actors and extras. The main requirement of a a good real estate lifestyle video, in my mind anyway, is that it tells a compelling story. With a lifestyle video you are really only limited by your imagination.
Would you like to bring your next luxury listing to life with a real estate lifestyle video? Please tell us all about it below.