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Belinda Luc
While most agents are yet to utilise online videos to market property listings, great opportunities exist in this sector, the latest research shows.
According to the latest Real Estate Business straw poll, 67.8 per cent of agents do not use online videos as a sales tool.
Meanwhile, 21.6 per cent of respondents said they had realised the benefits of online video marketing, while 10.6 per cent of the 199 respondents said they were "looking into it".
According to Soul Arch Media director Carolyn Ridings-Emge, online video marketing is a popular tool among agencies, particularly for attracting foreign investors and prestige property buyers.
"Foreign buyers cannot physically inspect a property and by having an online video, a lot of foreign interest can be generated in a property," Ms Ridings-Emge told Real Estate Business.
"We often see agents use online video tours for properties at the high end of the market," she added.
However, Ms Ridings-Emge said the reason many agents shied away from online video marketing was because of the cost involved.
"Sometimes agents find it difficult to justify the cost of using online property videos to their clients, when there are cheaper marketing alternatives," Ms Ridings-Emge said.
According to Ms Ridings-Emge, those that did suggest this form of marketing to their clients could reap widespread benefits for themselves well as clients.
"We find that while the seller pays for the service as a part of the agent's marketing cost, the agent benefits also, as they receive lead generation from the online property video," she said.
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