Real Estate Business: Good and Bad Part 1 In 1973 while working as a photographer, cinematographer and graphic artist for a television station in south Florida; I was asked by the station manager if we could film the local news. "Of course," I replied. Being that I owned my own Bolex 16mm camera with a 12 to 120 zoom lens, why not. "But," I asked, "Why use film?" "It is expensive." "It has to be processed." "It take time to edit." We might have the news for the day it was shot ready by 6:00 PM or even 10:00 PM. "Why use film," I asked. "Because it will have broadcast quality," was the station manager's reply. "You don't need quality, you need the new?" I questioned. "Sure," came the reply. "Then why not use video tape?" I questioned. Now in 1973 most tv stations used 2" video tape to record their shows. There had been some test use of 1" and 3/4" video tape. But its image quality was considered not to be broadcast quality. Needless to say, we got a video camera and a JVC recorder/player and the rest is history.
What does this have to do with the real estate business?
It was at the tv station I realized the immediacy of video tape. I could see all kinds of possibilities for its use. I was taking the Salesman Real Estate Course classes at night while working at the tv station. I was hoping to make a career change. I could see how I could combine my knowledge of film and video with my future career in real estate.
Forming a corporation called Video Listing Servers (VLS); purchasing equipment and establishing a business; I set out to video tape homes, boats and travel opportunities.
I filmed several test homes. Made a 60 second commercial for each home. Prepared my presentation. Now, I was ready to present my concept. The tv stations were not interested. So, I went to the local Realtor Association and made my presentation. The Realtors filled out my questionnaire. They loved the idea. They wanted to used the concept. But, what did it cost? That is when I got my first realization as to why they are called brokers. They had no money. They use the first rule of money. Use other people's money. They lived from sale to sale. They did not own the real estate.
It took over 20 years before the virtual tour of real estate became a workable concept. Still they have it wrong. They just don't get it. It's not the home; it's the location. A Buyer buys a location; the house or apartment is only a place were they put their couch and set out the pictures of the family.
Real Estate is one place where a picture is not worth a 1000 words. Even if you have 10,000 pictures you still have to walk the location. Because, in real estate the three most important things are still location, location, location.
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