Unpopular opinion coming at your: I think rental market update videos are boring.
But they don’t have to be.
If you’re wanting to position yourself as a rental market expert, as someone your market can come to when they need to rent (or sell) their properties, a market update video is a great way to do this.
But please make it interesting for your viewers.
Actually, not just interesting, but make your video a piece of content that encourages your audience to contact you.
In this article, I’m going to step you through the process you can follow for creating an engaging market update video that gets your followers to take action.
But before I do, let me tell you what you DON’T need, for this type of video.
You don’t need:
🙅♀️ Fancy video equipment (you don’t need to hire a videographer for these videos)
🙅♂️ Flashy cars or models to feature in a mansion while you’re walking through the hallway talking to the camera
🙅 Animations and fancy video editing
So, let me step you through the process for creating market update, that actually gets engagement and leads.
Step 1. Research
This is probably a given. You need to gather your rental market data. You can approach this one of two ways:
- Full market update – this means you’ll be gathering data from realestate.com.au, domain.com.au, corelogic.com.au and/or pricefinder.com.au on your entire local market.
- Office update – this means you’re focusing on the data and results in your own office only. Keep in mind, if you’re only focusing on your own office’s data, you still might like to compare your results to the rest of the market (especially if you’re getting better results that what’s “average” in your marketplace)
Think about what data is going to be useful for your audience. If you’re doing a rental market update, these are some statistics that might be useful:
- Average rent (or median rent, if you prefer)
- Vacancy rates (remember to explain what this means)
- Days on market (explain that this statistic is “how long it takes to find a tenant”)
- Number of applications for different types of properties (especially if you’re comparing your office’s results to the rest of the market)
- Rental returns (yield) in the current market
You might also want to include:
- Key attractions in the feature suburb
- Types of properties getting the majority of enquiries/applications
- Property sales prices (especially if you’re explaining rental yield in your video)
- The impacts of interest rate changes and/or legislation changes on supply/demand.
Step 2. Set Your Goal
Before you even write your script (or notes) and waaaaaaay before you hit record on the camera, you need to know what you want your followers to do once they’ve seen your video.
Ask yourself this question:
If someone watches your video and asks that question, what is it you want them to do?
Join your database?
Like the video?
Leave a comment?
Knowing your goal will help you plan your video in a way to lead your viewers to take that action after they watch your video.
Step 3. Write Your Script (or just some bullet points)
Jot down a few notes on what you want to say in your video. Remember to start your video with a hook to capture the viewer’s attention.
Don’t start with this:
🙅♀️ “Hello everyone…”
🙅♂️ “Hi, I’m Ellen and I’m from ABC Realty and I’m here to give you my local rental market update”
🙅 Any long animated welcome sequence
You’ve got 3-5 seconds to capture your audience’s attention. And this means you want to start your video by hooking your audience. Try one of these opening lines:
👍 “Have you ever wondered what interest rates are doing to rental prices in SUBURB?”
👍 “Are you ready to discover the TRUTH about rent prices in SUBURB?”
👍 “Have you heard about the crazy rental crisis right now? Want to know the TRUTH about it?”
Step 4. Visuals
Starting with something simple like adding text and numbers to showcase the data you’re sharing.
Step 5. Include Other Experts
To improve the credibility and reach of your video rental market update, consider including other expert insights. You don’t need to include ALL the experts in every video, but consider adding one expert to each video, so you can rotate through your experts, including:
- Mortgage broker (remember you can feature more than one mortgage broker over a few different videos)
- Quantity Surveyor (on tax depreciation)
- Financial Planner
- House and land selling agents
- Other property managers and sales people (yes, you could even collaborate with your competitors!!! 😱 – just pick the right ones… you know the ones you’re happy to be associated with 😉)
Remember, you don’t need to be standing next to these experts when you film. You could ask them to send you a short snippet to add into your video, so you can slot it into yours, without having to make time to meet and film.
Step 6. Call to Action:
Remember back in step 2, we talked about setting a goal? Like, what do you want people to do now that they’ve watched your rental market update?
After presenting your rental market update, it’s crucial to include a clear call to action. Encourage people to take the next step by contacting you, or engaging with the video, or joining your database. A great way to get people’s contact details is to offer additional resources, like a downloadable report, ebook, checklist or guide. Emphasise the benefits of viewer taking that next step, in incentivise them to take action.
If you’re going to take the time to record market updates, let’s make sure they’re working for you.
Ready to get started on filming videos? Want more video ideas (more than just a rental market update video)? Join The Content Club and I’ll give you fresh video ideas each month.