Is video going to become the norm in commercial real estate?
Posted on 09 April 2020
Over the years we have seen major developments in advertising of properties digitally in the commercial space. Residential Real Estate Agents have been using videos for some time and in recent times we have seen this cross over into the commercial space.
When I first started in real estate in 2005, we were really just starting to ramp up digital marketing. I recall putting a rental up for lease and taking the photos myself on the office “Canon” camera. It would have only been 2-3 megapixel, but I thought it was amazing. My boss was very concerned about me taking the camera home and he called me that night to make sure it was safe as we had a strict policy about taking it in or out of the office. Now as agents we are rarely taking any photography as we want to produce the best possible marketing, in fact one of our core values is elite marketing standards.
We have seen the common commercial estate agents especially in the leasing world, rely heavily upon a digital floorplan with dimensions, professional photography including mark-ups, and a good spiel being the main major tools when it comes to launching a digital campaign and obtaining a response from the relevant target market.
In the current climate and COVID-19 conditions impacting our market we are seeing more and more tenants being very selective as to what properties they wish to inspect, if at all. The tenants overall have more options now than ever before, so it is imperative for the listing to stand out from the competition and to also provide the tenants with enough comfort to proceed to the next step after watching the video.
At Aston Commercial, we have taken the initiative and started filming properties ourselves and uploading them to YouTube. This is a good temporary solution to the current climate and particularly when given such a short time frame. Ultimately moving forward all agents including Aston Commercial will be looking at professional videos of each property.
There are two main professional video options to choose from, which I have outlined below:
Virtual Tours - a 360-degree camera walk-through which allows the user to have some control over where they go in the space by clicking around the room and being able to navigate into other rooms.
Video Tour - a wide angle walk-through on each room with some Jazzy music in the background. The video doesn’t usually go for more then 2-5 minutes.
A statistic I read recently said the average user will spend 88% more time on a website with a video.
We are seeing commercial agents operate remotely and some of our suppliers recently have been completing Live-Streams with Q&A’s.
Although our human interactions and personal connections have always been paramount in our world, we find ourselves working from our home study’s, living rooms, bedrooms etc. It is becoming more and more likely that in the commercial real estate world the future will be in Videos and we welcome this innovative approach.
“For me, it is vital that I am at the forefront of such developments to ensure our listings are still targeting the right tenant”.
Senior Leasing Executive, Associate