15 Jan 07 Home is a Feeling

I have been reading a lot of Joel Burslem’s writing these days. His commentary on the state of the real estate industry is as solid as it comes, so I definitely recommend that everyone check his work out. Anyway, he recently covered the highlights of the Inman Connect event in NYC, and had this to say about video:

“I believe this is going to be the year that online video finally make an impact in real estate. The barriers to entry have largely disappeared and the reams of data that now exists now needs context. Video does just that. Realtors and brokers should start looking at how they can incorporate video into their marketing efforts, not only as a way to differentiate themselves from the competition, but as a way to bring greater value to their clients and to consumers.”

I think that “Home is a Feeling” pretty much sums up what Joel is saying here. In sales 101 class, you’ll hear all the “experts” tell you that people buy benefits, not features. Then, you’ll find tons and tons of property descriptions talking about “granite counter tops,” and beautiful fixtures etc. Show me the granite counter tops, and beautiful fixtures! Better yet, have the owner of the house telling me why they love living in their house. Go crazy and show me what that home feels like with a bunch of company over. If a picture tells a thousand words, then what of video?
A couple of weeks ago I read this piece of fine literature, entitled “Ready for the Next Boom: Prudential Targets Next Wave” . For some reason, I find the facts stated in this following quote very surprising. I think the reason is because I have always thought, and heard, that Boomers are the big generation to watch:

“By the year 2010, according to the U.S. Census Bureau, Generations X and Y will make up more than half of the American population-an interesting counterpoint to the millions of retiring Baby Boomers. But while there are differences between these groups, one fact remains the same: once their online research is done, and a real estate transaction is begun, buyers and sellers of every age expect top-tier service and technical knowledge from the sales professional representing them.”

I am a proud member of Generation X, did my share of crowd surfing in the 90’s, and have been scratching my head for years wondering why video isn’t already the standard. 2010 isn’t far away, and “more than half of the the American population” is quite a bit of clout for a bunch of youngsters (yeah right…I’ll be entirely gray within the year).