Purplebricks is launching a high-speed TikTok house brochure service that provides a 25 second virtual tour of properties highlighting all of the key features and rooms of the house in short bite-sized videos.
The online estate agency has launched the new service after internal research found that, on average, British adults take just 25 seconds to decide whether a property is right for them, with as many as a third making their judgement on a property listing in less than ten seconds.
When it comes to specific characteristics of a property, the leading factor in speeding up the decision-making process, according to the research, was the all-important location – 77%. However, almost half – 47% – said the lead picture or thumbnail on an online listing could quickly put them off a property, and one in five – 21% – said dated décor would speed them along to the next listing.
The study of 2,000 Brits by Purplebricks revealed that the kitchen (78%), lounge (60%) and bedrooms (55%) are the three most important rooms to consider when looking for a new home.
The ability to add value is also key, as 70% of those surveyed said it was important for a property to have potential for renovations or improvements.
Over a third (36%) said that they would be swayed by a property if it were ‘social media ready’, and a property they would be proud to show off on TikTok or Instagram.
The research suggests that snappy ‘gut’ decisions continue when it comes to viewing a property in person. Just over a quarter of those surveyed – 26% – said that they would make a judgement on a property within seconds of entering the home.
Ben Carter, chief marketing officer, at Purplebricks said: “Following a year where we have seen the property market running hot and property sales moving faster than ever, we are launching 25 second high-speed house brochure tours to make the initial listings search quick, easy, and entertaining.
We know that people are short on time and that wading through property listings can be stressful and all-consuming. We are launching our 25 -second virtual tours, to help home-hunters make one of the most special decisions of their lives, however it’s clear that buyers follow their hearts when they’re looking for a home and our advice is to listen to the head too. It’s really important that people take the time to think really carefully before they make the final commitment”.
Psychotherapist Lucy Beresford, who worked alongside Purplebricks to analyse the research, commented: “The Purplebricks study confirms that gut feelings are key in the initial stages of selecting a property that is right for you.
“We are hard-wired to make gut decisions around our sense of security, which is why our bodies spring into action when looking for a home as this is the place we plan on building a future.”
Comments (13)
“I encourage all estate agents to join TikTok,” says the Proptech-PR founder Andrew Stanton. “Because if the younger generation use it as they grow then agents need to be in that space. If you’re not in that space you will die.” – The Times Friday January the 15th 2021 –
Headline – ‘Would you sell your house on TikTok? Move over, Gen Z: estate agents are joining the social network’. By Emanuele Midolo
The app in numbers 1 billion views per day 800 million users worldwide 50 per cent of its users are under 34 41 per cent of its users are aged 16 to 24 #realestate 2.9 billion views #realtor 640 million views #property 306 million views
‘TikTok is a Generation Z stronghold: users aged between 16 and 24 account for a solid 41 per cent of its users. On the back of its incredible growth and impressive numbers, estate agents in the US have started using TikTok to push their properties. US brokerTikTok is a Generation Z stronghold: users aged between 16 and 24 account for a solid 41 per cent of its users. On the back of its incredible growth and impressive numbers, estate agents in the US have started using TikTok to push their properties.
US broker Alexander Zakharin from GZB Realty in New York, now one of the most popular property pundits on the platform with more than 75,000 followers, joined in February last year and quickly racked up millions of views. “Within three weeks I had 1.4 million views on one video,” Zakharin told trade magazine The Real Deal. There are now plenty of “real estate agent guides to using TikTok” on the internet. Most of these first adopters, like Zakharin, are in the US. But the UK is catching up. “Within three weeks I had 1.4 million views on one video,” Zakharin told trade magazine The Real Deal. There are now plenty of “real estate agent guides to using TikTok” on the internet. Most of these first adopters, like Zakharin, are in the US.
But the UK is catching up’. PIE is fast becoming the Dinosaur lounge of the old guard estate agency, Amazon does a multi trillion dollar turn over, banks disappear and banking went online starting a decade ago, yet some old school agents feel it is business as usual, well the agents that are making most profit are early adopters realising that the ‘client’ and what they hold precious is the way to do business.
TikTok may not be for a 50 year old plus agent, but for an 18 year old tenant it probably figures large in their daily routine.
People!
That internet think will never catch on
That facebook thing will never catch on
That Tiktok thing is full of kids
Careful you don’t become extinct
Don’t get me wrong the basics are important and they should be making sure the basics are done well as well but I think this is a nice addition.
When they are sat in the living room selling their service and they say we give you this it will show they are at the cutting edge, particularly is the seller themselves use tiktok
you could not make it up
Oh – but they have…
How apt given time is running out for them….Tick Tock, Tick Tock
This type of platform wont sell property as already mentioned. Their twitter account has just 7500 followers and how many of these are actually buyers? Purplebricks Customer services twitter account is the gift which keeps on giving. 🙂
Average Age of UK First Time Buyer is 31 (as of Jan 2021)
26% of UK TIK TOK users are in 18-24 years old age range
9.3% of UK TIK TOK users are in 35-44 year old age range
4.7% UK TIK TOK users are in 45-54 year old age range
So a great platform to sell low value consumable goods, footwear, clothing and make up, but the demographic stats would indicate that TIK TOK isn’t quite yet the right platform to sell property..
Chesterdraws
“TIK TOK isn’t quite yet the right platform to sell property..”
Let’s take that one step further. THE INTERNET isn’t the right platform to “sell” property. Just to Showcase it.
“almost half – 47% – said the lead picture or thumbnail on an online listing could quickly put them off a property”
The quicker they apply this “research” to their own listings the better!
Consultancy over. Bill’s in the post.
Nice idea. Must have a young and hip marketing co in. Noticed a shift in style with their garage and house DJ / MC campaign. Music style now deemed old school, but struggle to associate with the business of estate agency.
Yep great ideas, but PB these attempts to be fashionable campaigns might prove wasteful.
Think again 🙂
“The online estate agency has launched the new service after internal research found that, on average, British adults take just 25 seconds to decide whether a property is right for them”
There you have it – the sure-fire reason why ‘online’ will fail. These muppets just don’t get what makes the average homebuyer tik (pun intended).
That would be “25 seconds of entering the property” – NOT seeing a video of it. It’s the “feel” of a property that seals (or breaks) the deal. It even pretty much says that in the chuffin’ article!
But the PurpleOnes produce a tic-tac-toe and expect everything to flow from that. On that, I have no doubt that will happen… and what will flow will be brown and nitrogenous.
I would have thought (hoped, actually) that the majority of their staff will know this and be secretly cringing at this new ‘initiative’ (worst use of the word ever, methinks).
Time (if not too late already) to head for the door, people. Your employer has lost it.
IF, that is, they ever ‘had it’ in the first place…
What next? Tinder?
I’m sure a TikTok account was all it was needed for PB to smash through the 10% market share, even though the majority of TikTok users aren’t actually old enough to buy a house. Great work Vic