Sellers are always cynical of the proposed marketing budget that their agent suggests– especially in this day in age where the seller pays for it all! After being involved in the sale of hundreds of homes one thing has become very clear, those sellers that follow their agent’s guidance and roll out a quality campaign suitable to the home, sell quicker and for a higher price.
When selling a home, one of the most important factors other than a well thought out pricing strategy, that will lead to a successful sale is the marketing an agent uses. A common question we get asked on a regular basis from home sellers is “How should I market my home and what is the minimum amount I need to spend?”
When Apple develops a new iPhone they don’t say “let’s just put it on the shelf and see how it goes” do they? No – they put together an amazing marketing strategy heavily researched and marketed to a targeted audience using a multi- media platform approach. we need to take the same idea when selling a home, after all, you are on the market in competition– not in isolation.
As a team we have worked alongside some of Australia’s top performing real estate agents and we are all award-winning agents in our own right; with exceptional experience in corporate sales and marketing both nationally and internationally. We do know a thing or two about business and about marketing. We believe it is extremely important that our sellers understand where their home will be marketed, how it will be marketed, how much it will cost and why we should use the prescribed strategy. More importantly, they also need to understand the importance of each aspect, who it reaches and why they need it.
We are often asked how we consistently sell homes quickly and for top dollar. Well, the answer isn’t a simple one, but a big part of it is that we are very focussed on making sure every seller is given the right campaign and each campaign is bespoke and designed for their property and their unique set of circumstances. It is important for all home sellers to understand that there are many real estate marketing techniques that top real estate marketers are using to improve their overall marketing exposure behind the scenes.
If you are selling a home or thinking about it and you’re wondering what real estate marketing strategies a top real estate agent should be using, below are some of the more creative and unique real estate marketing strategies!
Print Advertising & Traditional Real Estate Marketing Techniques
There are many real estate agents who believe that print advertising and traditional real estate marketing techniques do not work. While the impact that print advertising and traditional real estate marketing strategies have decreased over the years, they still can be a good marketing avenue for sellers.
Depending on your location, the newspaper still has a large readership, especially since Australian’s are obsessed with property and everything real estate. Many newspapers have their own real estate section where you can find homes for sale, the upcoming open for inspection times and other pertinent information.
One of the biggest spikes in newspaper readership has been online readership. The digital audience for the newspaper has been consistently growing year on year. Newspaper companies have realized the impact that the internet makes and have shifted their focus to digital editions of their papers allowing readers to read the news on their computers, iPads, Tablets, and any other mobile device you can think of. Convenience is the key!
Newspaper advertising is still an effective real estate marketing strategy. Case studies demonstrate that when a home is advertised for sale, the web traffic increases for a few days after the advertisement is run. This is due to potential buyers seeing the home for sale in the newspaper, then researching online to learn more.
The big takeaway with this strategy is that newspaper marketing helps capture the passive buyer and the passive buyer although not really looking may come across the perfect home and will potentially pay more for the property.
A study was conducted by the courier mail on perceived value of a property depending on the size of an advertisement. As it turns out a full-page advertisement offers the best value for money with the greatest perceived value of the home, potentially increasing your net return by thousands.
Postcard & Direct Mail Marketing
Another popular print advertising strategy that top real estate agents will use to sell a home are postcards or DL’s as they are referred to in the industry. Postcards sent to a local neighbourhood are a great opportunity to inform the neighbours that a home in their neighbourhood is for sale with pertinent details relating to the property.
This can be an effective real estate marketing tool, mainly because neighbours who receive the card may know of a family member or friend who is looking for a home in their neighbourhood. An informative postcard can easily be passed on to someone who potentially is looking for a new place to call home.
Did you know that over 90% of home buyers are beginning their home search online? If that staggering statistic does not catch your eye, it should! It is extremely important when selling a home that your property is being exposed everywhere online.
Below are some of the most important real estate marketing strategies that lead to maximum online exposure that many top real estate agents use.
Going out on a limb, I would bet that all real estate agencies and brokerages have websites in 2020. Just because a real estate agency has a website does not mean all their agents have their own websites. To receive maximum online exposure when selling a home, it is very important that real estate agents have their own website.
An agent not only needs to have their own website, but it also needs to be user-friendly and high ranking. Some of the top signs of a user-friendly and high-ranking website include detailed property pages, resources, E-books, events, and mobile capabilities. This enables the agent to diversify and create bespoke social marketing campaigns to attract more buyers and importantly more passive buyers to your property, as those are the buyers who ultimately end up paying more…
Informative & Updated Blog
An obvious sign of a real estate agent with a strong online presence is whether or not they have an informative and a regularly updated blog. Just like the one you are reading now that reaches over 10,000 families every issue.
A real estate blog can be beneficial for a seller as it gives an agent the opportunity to discuss their home in detail.
Another reason top real estate agents will have an informative blog is because it gives them the opportunity to share their knowledge and experience with potential buyers (and sellers).
For example, if a seller has a home that is likely to attract first time home buyers, it can be extremely beneficial if an agent has an article or an E-Book that is tailored to the first time home buyer market, Not only does providing the first-time home buyer tips benefit a buyer but also benefits a seller as the educational information provided helps make a transaction seem-less because the buyer is informed and educated about the home buying process.
Nothing is more frustrating to a seller than a buyer who ends up with cold feet and backs out of a deal because they did not know what to expect during the home buying process.
High Quality Photography
Since the internet is where most buyers are beginning their home search, it is vital that a real estate agent is using high-quality photography. When selling a home a seller should expect the photos a real estate agent uses to market their property are nothing short of spectacular, after all the photographs are the first point of contact that most buyers will have with the home, studies show that you have just 30 seconds to make a great first impression. So, make that 30 seconds count with amazing photography.
it is very important that the agent attends the photography session and looks down the lens of every shot, ensuring nothing is left to chance, even a great photographer needs to defer to the agent from time to time. A high-quality photo/video shoot for a luxury property is an all-day event.
Most top real estate agents will hire a professional photographer to take photos of their listings. While this is an expense, it makes a huge difference, as perception of a home’s worth is equated to value in a dollar amount. This is especially the case when selling luxury homes. We have numerous case studies we can share with you, where we have taken over a listing from a competitor, used our success formula and have achieved a price significantly higher than the highest offer in the previous campaign.
If a real estate agent is marketing their listings with poor quality images it can make a huge difference in whether a home sells or not and ultimately the final selling price.
Video, 3D and 360 Home tours
People love video, period! The impact that video has had on real estate marketing has been monumental. In 2020, buyers can now sit in the comfort of their home and virtually walk through a home, how awesome is that.
When selling a home, you should expect that the real estate agent you hire is utilizing some type of video, 3D walk-through or 360 Home tour. Whether it is a video they produce by themselves by stitching together photos or a video they have professionally designed, it is a crucial element for any campaign.
Our biggest pet peeve, a home for sale without a floorplan! Something as simple and inexpensive as a quality floorplan can make or break a campaign. For less than $250 you can have a quality floor and site plan drawn up and added to your marketing arsenal. Buyers absolutely love floorplans, and we see so many homes marketed without one. As marketers it is our job to make the home buying process as simple as possible which in turn gives our client (the seller) a higher net return which means for our owner occupier clients more tax free money in their back pocket.
Real estate and social media are like peanut butter and jelly. Sellers should expect that their real estate agent is utilizing social media in their real estate marketing strategy. There are several social media websites that top real estate agents are utilizing to help give their sellers homes additional exposure.
Below are some of the most popular social media websites that sellers should expect their real estate agent to use while selling their home and some reasons why.
There are not too many people left who do not know what Facebook is or better yet, do not have a Facebook profile. Facebook allows real estate professionals the opportunity to reach large numbers of residents as well as potential buyers living interstate and internationally.
As a seller, it is important to realize the power of Facebook marketing for real estate. Not all Facebook marketing needs to be focused on the newest listing in XYZ neighbourhood, but certainly is incorporated into many real estate marketing plans. Top real estate agents will have their own business page that is frequently updated with not only listings but also with quality real estate advice, Style trends and engaging informative information.
Providing quality real estate advice is a great way for a real estate agent to interact with their followers, many of which may be potential buyers. Facebook also allows real estate agents to utilize targeted ads that can be demographically targeted to residents in a specific neighbourhood who are looking to purchase a home, how awesome is that!
If you are selling a home, you can tell quickly tell if an agent is utilizing Facebook effectively. If you go to their business page and there is a sea of Just listed and Just sold without anything of value and little interaction in the form of comments, likes, or shares, it’s likely they are not. At Iconic Estate Agents we leave nothing to chance and hire the best in the business to take care of all social media marketing, that way we are assured we always have an engaged audience. It is not always about the number of likes but how much traffic you can funnel to your website or the specific advertisement for a property or service.
A relative newcomer to the real estate space, Instagram has been a big hit with promoting property and agents have used Instagram to build their online profiles. Everyone loves pretty pictures and who doesn’t like looking at pictures of beautiful homes. A number of high-profile agents have become social media influencers, we believe marketing is about the property not the agent. This has become a great listing tool for agents.
Real estate marketing is vital to home selling success. There are certain real estate marketing techniques that you should expect your real estate agent to employ.
If a real estate agent utilises print advertising, has a strong online presence, utilises social media, and knows how to curate great real estate content, the chances they sell a home increase significantly. A real estate agent who does not believe in or utilises these forms of marketing can potentially cost a seller thousands of dollars and months of aggravation. If your agent employs all these methods you will sleep well at night, knowing that you have reached every potential buyer and therefore maximised your sale price.