In today’s world, real estate marketing when selling a property involves a lot more than slapping an ad in your local newspaper – so what are your options?
For most Australians, their house is often their biggest financial asset. Whether it’s a choice that’s been years in the making or even a sudden change in circumstances, deciding to sell is never easy, particularly if it’s your first property or the home holds sentimental value.
With the real estate market currently running red hot right around the country, many homeowners are understandably thinking that now is the time to jump on the bandwagon. However, just because there’s a notable issue with supply and demand, doesn’t necessarily mean that there are shortcuts available when it comes to the necessary costs associated with selling property, such as real estate marketing.
Hang on – if there’s a shortage of houses available to purchase, do you really need to spend the same kind of money on advertising that you once would have? Let’s dive deeper.
How Real Estate Marketing Works
If you want your property to ‘get seen’ by potential buyers, then photos, floor plans, internet listings and brochures are all necessary evils. As a general rule, aim to invest 0.50% to 1.00% of the value of your home into the marketing efforts. Although it can be a significant figure depending on where you live and how aggressively you wish to advertise the property, the concept of real estate marketing is to generate as much buzz as possible in order to drive interest.
Technology has come a long way when it comes to what your marketing money can buy. Sellers have a multitude of options to pick from when it comes to advertising their property to potential buyers, with the following being common examples.
- Print advertising
- Real estate portal listings on sites such as RealEstate.com.au
- Social media advertising
- Internet display advertising
- Print property brochures
- Digital brochures
- Signage
- 2D and 3D floor plans
- Property videos
- Drone photography
- Professional photography
- Professional copywriting
- Property styling
- Virtual tours
- Virtual agents
- Email marketing via a real estate agent’s database
- Highly targeted social media and Google Ad campaigns
The key to a profitable real estate marketing campaign is knowing which of the many options available to you is most likely to hook the right buyer. Ideally, your real estate agent will be able to personally tailor a marketing campaign to suit your property, your budget, and the right audience based on their years of experience. However, it’s also important to be aware of methods that promote the real estate agent more than your property. According to Victorian property advisor Luke Lawlor, it’s something that happens all too often.
“It’s crucial that vendors opt for real estate marketing methods that focus on bringing in potential buyers as opposed to promoting the real estate agent. An extra-large for sale sign board is great for promoting the agent and will cost approximately four times the amount as a normal for sale sign board – but does it actually bring extra buyers to your home? The categoric answer to this is no – an 8ft x 6ft for sale board will do the same job for the seller as a much more expensive 10ft x 8ft board. Other things like full page ads can be overkill, especially considering that most people actually buy property within seven kilometres of their current home. Sellers should aim for campaigns that embody a strong local and digital presence.”
The thing is, you never know where a potential buyer is going to come from. A property may grab their attention via a local letterbox drop, social media, or even walking past a physical ‘for sale’ sign. However, with ongoing lockdowns happening right around the nation that are significantly limiting in personal interactions, strong and high quality photography is a must if you intend on making your mark online and capturing the interest of potential buyers. While real estate marketing needs to cast a wide net in order to attract the right buyers, it’s important to communicate with your real estate agent and ask for a clear breakdown as to where your investment is going, and what the results are projected to look like.
Should you be looking to sell your home, enlisting the services of a free property advisor like ESPA can often be a game changer for vendors. As an example, your advisor would likely research the property, local agents, check the zoning, evaluate market conditions, and communicate clearly with the owner regarding all of their options, and can be particularly useful when it comes to choosing a real estate that’s right for you. When working with a reputable advisor, this often results in homeowners being able to sell their property for significantly more than they initially thought possible.
Take The Stress Out Of Selling Property
A completely free service, Emergency Services Property Advisors provide property advisor services to Police, Fire, Ambulance and S.E.S personnel and their families right across Victoria.
Luke and the team at ESPA are passionate about providing support to some of Australia’s most valued public servants. Along with key industry insights, ESPA also works with a broad range of service providers linked to the real estate industry such as conveyancers, trades, legal practitioners and mortgage brokers.
If you are an emergency services worker looking to potentially buy or sell property in the future, please get in touch with Emergency Services Property Advisors today to discuss how we can turn your real estate dreams into reality, or call Luke directly on 0414 757 705.
