Selling Your Property : Does Marketing Make a Difference?
When it comes to putting your home on the market, how you’re actually going to get it sold isn’t usually the first thing you think about.
If you’re like most, the focus is on what price you might get, so you can move forward and start to plan the future.
It’s not surprising that how you’re going to achieve this price can often be overlooked.
So what’s the answer? Marketing.
In a ‘hot property market’, where homes are listed one day and sold the next (for lofty prices, mind you), you’d be forgiven for wondering why you’d need to invest a single dollar in marketing.
When property is in demand, your home is sure to sell itself, right?
But look a little closer, and what do all these fast-moving homes have in common? High quality marketing.
Sure, there may be lots of homes selling with tiny (or no) marketing budgets too.
But it’s clear that these are the properties falling short when it comes to achieving the highest price.
Why?
Because they’re either spreading themselves too thin, focusing on the cheapest options, or worse still - doing nothing at all and relying on pure luck.
To use an analogy, marketing property to sell is a bit like fishing.
The more lines you put out, and the more suitable your bait, the greater chance you have to catch a bigger or better fish.
Conversely, if you don’t use the correct methods to target the right fish - or don’t choose to fish in the right spot - you might be fortunate and snag something by chance… but it’s not likely to be the result you were hoping for.
And it’ll be near-impossible to catch the fish you want by standing on the bank doing nothing.
Put simply, you won’t attract the best buyer for your home - that’s willing to pay good money for it - if they don’t even know it’s for sale. Or if there’s no obvious reason for them to even take a look.
Just like bait, marketing comes in many different forms, each serving its own purpose.
As a general rule, each method falls into one of two categories - traditional or online.
So let’s take a look at the different types of marketing to understand how they’re able to ‘move the dial’ in your favour.
Is online marketing my best option?
While it’s hard to say which method is ‘best’, online marketing has proven itself as one of the most effective - and economical - ways of making sure potential buyers see your home.
Why? Because you can target specific demographics AND reach them almost anywhere, any time of day, so long as they have a mobile device handy.
Not only that, but the sheer number of places you can advertise your property online means it will almost certainly be seen by a large number of people who are actually searching for property.
That’s because online marketing targets ‘engaged’ buyers - that is, people who are specifically looking to buy or sell property. They intentionally visit a property website, or search for properties for sale, to get the information they need.
By contrast, people reading a newspaper (for instance) might run their eyes over the property section, even though they’re not particularly interested in buying or selling anything.
The three main places you can advertise property online are:
Real Estate Websites
While it’s quite expensive to list on these platforms, they are often the first place potential buyers go to find properties for sale. Websites like domain.com.au and realestate.com.au are popular because buyers can easily view a large number of homes at once, and quickly narrow down their search by location, price and property features.
Social Media
Another excellent place to advertise your property for sale is social media. With the ability to target advertising to specific demographics and buyer types, as well as the option to use hashtags and searchable terms, this is another place that many savvy buyers are likely to hang out.
Real Estate Agency Websites
The most cost-effective online option, your real estate agent’s website is always a great place to list your property for sale. And while the pool of potential buyers visiting these sites may be smaller, their quality is usually high. This is because savvy buyers know that agents often list their new properties here first, before blowing any marketing budget on an expensive 3rd party real estate portal. This gives astute buyers first shot at making an offer.
If online marketing works so well, why bother with ‘traditional’ methods?
Because, for certain demographics, it works.
The first thing to remember is that ‘traditional marketing’ covers many different things, like newspapers, brochures, curb-side signage and window displays.
And not all of them will be right for your property.
The good news is, that experienced real estate agents know their local market, and exactly what mix to use, to attract the right buyers.
So what are they?
Print Media (Newspapers, Brochures & Letterbox drops)
The benefit of print? It reaches potential buyers who are not regular internet users, or who may not be digitally-minded.
For instance, if you’ve got a small, 2 bedroom unit, located close to public transport with a low-maintenance garden, chances are it’s going to appeal to retirees or downsizers.
Given older generations tend to read the newspaper and their ‘junk’ mail, it’s very likely that a newspaper ad and brochure drop will reach them. And while many are quite internet-savvy, running a digital-only campaign could result in lower reach within your target demographic.
Signboards & Window Displays
These methods encourage word-of-mouth.
Particularly effective at attracting attention from passing car or foot traffic, and highlighting your sale to locals, these familiar displays reach a much larger network than you might think!
Many locals know others wanting to move into the area, and these methods ensure your home is front-of-mind when they're making recommendations.
Across all type of property, roadside signage and window displays still have a proven ability to supercharge any campaign.
Agent’s database
Your listing agent’s database is a great, cost-effective way to reach qualified buyers looking for homes just like yours.
Agents keep interested buyers’ information on file, with details like their preferred location, and the kind of home they’re looking for, so they can personally recommend suitable properties when they become available.
For instance, We Connect Property has thousands of registered, highly engaged buyers that are waiting for the right opportunity to pop up.
You can choose to market your property to these buyers first, before it’s listed elsewhere, and make a sale without a full campaign.
The drawback? Because you’re not reaching the mainstream market, you may never know if you might have received a better offer elsewhere.
Is there anything else I should know?
Yes! The final piece in the puzzle is ensuring your property presents well.
No matter the platform, if your home doesn’t look or sound appealing, it’ll be a tough sell and possibly overlooked.
So how do you catch a buyer’s eye (and their imagination)?
Through images, words and emotion.
Expert in-home styling, beautiful photographs and professional copywriting capture the best features of a property, show off the lifestyle benefits and connect with buyers.
Forming the minimum required to attract a quality audience, they are a crucial part of achieving a successful campaign, whatever type of marketing you choose.
Finally, does all this marketing actually pay off?
All the evidence points to ‘yes’.
According to one study, homes that had a greater marketing investment saw two and a half times more inspections than those who scrimped. That’s a lot.
And a clear indication that if you stick to the bare minimum - or do nothing at all - you’re potentially missing out on finding the right buyer.
So when it comes to property, the old adage rings true - you’ve got to spend a little to make a lot.
And all the best marketing campaigns tend to include a mix of both traditional and online methods to reach a wide audience.
But contrary to what you may think, an effective marketing campaign doesn’t have to cost the earth.
Good results can actually be achieved by setting a budget of just 0.5% - 1% of your home’s value.
That’s a tiny price to pay to make sure you’re reaching the right buyers.
If it yields just $10-15K more than it would have otherwise? You’re winning!
So how do you spend your budget wisely?
Rely on an experienced real estate agent to guide you!
Just like our friendly team at We Connect Property, they’ll understand the local market, know what appeals to buyers, and can suggest the best - and most cost efficient - marketing solutions to make sure your home is sold for the highest price.
Your agent will know what type of buyer is likely to consider your home, and how to reach them using a mix of techniques. For instance…
- First homebuyers or young families? Digital could be a good focus.
- Downsizers or retirees? The local paper and other print media could be a great place to start.
- Investors? Your agent’s database and online portals may be best, as they want to easily compare properties based on features and be presented with opportunities.
Remember, the buyers you seek are out there. They need - and want - to know about your property, and be sold on why it’s worth considering.
But you can bet your bottom dollar that the quality ones aren’t scouring the deep, dark corners of Facebook Marketplace to snag a bargain.
They’re looking for beautifully presented homes with lifestyle appeal - listed on reputable platforms that they use regularly. And the only way to reach them is through marketing.
If your home’s not marketed properly, it’ll never attract the attention - or the price - it deserves.
The small investment you make in marketing could mean thousands of extra dollars in your pocket at the end of the day.
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Want to learn more about the best ways to sell your home? We’re ready and waiting to answer all your questions!
If you’re just getting started, or looking for more valuable property selling tips, tricks and hints, check out these other handy articles on our blog:
And for all the very best property buying, selling or investing advice, why not connect with us - We Connect Property are your local property market specialists with over 21 years’ experience in buying, selling and managing property in southern Adelaide.
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Give us a call on 0403 799 983 today, or drop a line to sales@weconnectproperty.com.au - we can’t wait to chat!
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DISCLAIMER: All recommendations made by We Connect Property are general in nature and not to be relied upon as legal or financial advice. To ensure accuracy, we always strongly recommend seeking independent, professional advice tailored to your specific situation before making any investment or financial decisions.