Marketing Your Property
Marketing your Property
Marketing a property for sale is essential to attract enquiries, offers and ultimately a strong sale price for your property. Some elements of marketing are complementary or unpaid, while most traditional methods are paid for by the seller.
Methods such as the property portals (REA & Domain), signboards, direct marketing and print advertising all play an important role in spreading the word about your property and encouraging healthy competition among buyers. In addition to this, we also recommend social media, 3D tours and videos in the marketing mix to ensure you are covering all channels when promoting your property.
Some of these marketing tools are essential while others are recommended and we see some sellers opting to spend on all these tools while others only pay for the bare minimum. The amount they are willing to spend depends on their experience with the various methods and the budget they have available. An example of this is 3D tours. 3D tours have become extremely popular since Covid as they showcase a 3D tour of the property online. They appeal to interstate and international buyers as they can view a property online and buy it sight-unseen, but they also safeguard us against lockdowns as everyone has access to the property online. 3D tours are a marketing tool that we strongly recommend in 2022 as WA faces uncertainty with the borders reopening.
Sometimes people are hesitant to market their home because they either don’t understand the marketing tool that we are recommending, or they do not want to spend the money without knowing exactly what return they are going to get on their investment. Some marketing tools are easier to measure, for example with the property portals we can track visitation and enquiry levels making this spend easier to justify. Signboards are a tool that are harder to measure as we cannot track enquiries and conversions as people will walk/drive by the sign and then will call the agent or attend the home open.
The saying is “you’ve got to spend money to make money” and this is applicable to real estate marketing. You need to reach the most people to generate as many leads as possible to achieve the highest sales price, so you need to ensure your property is visible to a wide range of buyers to get the highest level of enquiry and engagement.
Our agency adds value by offering a range of complimentary marketing tools when you list with us, but most of the traditional methods incur a cost paid by the seller to the advertising supplier in addition to the commission paid to the agent.