When selling a house you will be faced with a number of decisions. Where and how much to spend on marketing is one of those decisions. Working with me, you can be rest assured, we offer all these marketing options. Contact me today to discuss the options for marketing your property.
There are a number of different mediums for marketing a property to sell.
- Internet (realestate.com.au, domain.com.au, harcourts.com.au, etc)
- Newspaper (The Courier Mail, The Northside Chronicle, local papers, etc)
- Social Media Marketing (Facebook, Instagram)
- Area Flyers (A4, DL, etc)
- Signboard (Illuminated, Photographic, Plain, etc)
- Standard, Twilight, and Drone Photography
- Videos, 3D tours, Panoramic Photos
All these mediums have their pros and cons. As an agent we want to capture the most number of buyers and get them engaged in your property. We do this by maximising the exposure of your property by all the means available to us. When you go out fishing, why just use one rod, when you can use a large net. The same goes for fishing for buyers. Yes, you will catch some big fish, and some small fish, but at least if you catch all the fish, you can choose which fish to keep and which fish to throw back.
The right professional photography is important, we want to attract people to the property by making it look it's best. However, we find if the photography is not realistic, the buyers will walk in and be underwhelmed by the property with high expectations and be both disappointed in the agent and the property.
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Videos, panoramic photos, 2d and 3D Floor plans, and even 3D tours are becoming more and more common tools for marketing your property to make it stand out from the others – it's not always the medium but the way it is used in marketing your property. These mediums are huge point of difference when comparing to other properties on the market. They allow interstate investors to get a bit more of a flow or walk-through the property without leaving their office. If a picture is worth 1000 words, a video must be worth 10,000.
The internet (eg. realestate.com.au) is one of the most popular tools for buyers. It's instant. They can filter down price, suburb, # of bedrooms, # bathrooms, even the features with fancy terms you may not have heard of like Hydronic Heating (radiators or underfloor heating using water). 86% of potential buyers use online as their main tool to search for property (Residential Consumer Property Seeker Report, January 2015), so it's important you stand out on the front page. A good example of searching on the internet – if you're on Google, and you're searching for something, ask yourself how often you go past the first or second page before re-writing what you've searched for?
If someone is specifically looking in one suburb and a house in the next suburb over is literally across the street, it won't appear in the immediate search – this property may be the most amazing house that the buyer is looking for, but they'll never find it. This is when it's important to look at what adverts you are using on Realestate.com.au you need to understand the different types of adverts and where your property might appear.
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This leads into Newspapers. Now who doesn't like to sit down at a local cafe enjoy a coffee and have a bit of a flick through the paper to see what's making news these days, or catch up on what the latest rumour of your favourite sporting team is? What about the people that like to flick through the local paper and check out what's selling in their areas? A property might catch the eye of someone that's not actually looking to buy, they might tell their friend that's looking to buy, or they might actually buy it themselves. These people will flick through the paper, and the properties might be broken up into areas (North, South, East, West), or Agencies (Harcourts, or other), but ultimately the buyer can't filter out any properties, if something catches their eye, they might look to find out more via the internet, agency, or even open home. Newspapers will catch your “buyers that aren't actually buying”. So often, you hear about buyers looking at 4 bedroom homes, that end up buying a 3 bedroom home, because they fell in love with one of the aspects of another property. How often do people compromise the exact specifications that they want?
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A new form of marketing that is quickly taking hold is social media marketing (Facebook, Instagram, etc). Social media is the newspaper of the future, people flick through their Facebook feed, absorbing as much information as possible, analysing if what they're seeing is worth pursuing. Similar to people browsing through a paper, they may not be in the market to buy a property, but they might know someone that is. They might be looking on the internet, but filtering down too much limiting them from finding your property. Through analytics involved with sponsored adverts and boosted posts, more than ever you can see where your money is being spent, and how many people and who are actively engaged in your property. We do find that the posts need to be engaging, and video is proven to get more engagement than simply photos.
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Area flyers are something that you're targeting the suburb the property is located, not because you specifically want someone from that suburb to buy your property, but they might have parents, children, or friends that have seen where they live and want to move into that area for any number of reasons.
There are a couple of things that are a must, for very little investment is a signboard. A signboard might catch someone driving past that has missed the local flyers, missed the paper, missed the internet, weren't even thinking about real estate. You often hear about people that drive past an auction, pull in to have a look and end up buying the property at auction. You just never know who might be taking a drive in the neighbourhood to visit friends and just happen to see your property from the street. Their friends don't know they're looking to buy, so never told them about the property. Whether it's illuminated, or plain, even a glimpse of a signboard in front of the right house can direct a buyer to the fact your property is on the market.
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Now for something to think about.
The 5th highest revenue earning company in the world is Toyota with $255 Billion (USD), spending approximately $3-4 Billion (USD) on advertising in 2014. In 2016, Toyota's profit was $17.1 Billion (USD) – less than 10% of the revenue. Over 1.25% of the revenue was spent on advertising to achieve a profit of 10%. Motor Vehicles, Technology, Beautification Products, and Luxury Goods make up some of the 20 biggest spenders on advertising, what do they know? They know that no matter how popular their product might be, they still need to make sure the world knows – the biggest signs and the biggest advertising campaigns are what they do best. Keep in mind, you certainly won't be needing to tell the world about your property, but it's good to look at things a little differently.
Another thing to think about, a standard advert on carsales.com.au for a car selling for less than $14,999 is 0.45% of the sale price, or for the premium advert 0.90%.
Contact me today to discuss your marketing options.