Hi guys, Naomi here! Today I wanted to talk to you about advertising.
Did you know I have a renovation course? You can check it out here!
Do you know what the best methods are to advertise your property? Are you aware of which ones will work for your type of property and which ones are a waste of time? Or are you just trying to figure out what all the options are?
Whether you are using an agent or doing it yourself, promoting your property is absolutely crucial; successful advertising leads to a successful sale.
So, why is advertising such a big thing?
Well, to put it simply, advertising puts potential buyers in the loop.
It is the essential exposure of your property, without which your buyers wouldn’t even know what you were offering. And the more exposure you get, the more potential buyers that you will get walking through the door at inspection. And competition is good for your sell price.
I’ve mentioned this before, but I’ll say it again: you may have the best property in the world, but if the world doesn’t know about it, it won’t sell.
In a nutshell: good advertising equals more potential buyers equals more profits in your pocket come sale day.
So, how can you gain more exposure for your property?
There are many different methods both you and your agent can use to promote your property. These can include online databases, local marketing and even newspaper advertising. Don’t assume that just because we live in a digital age, the only relevant form of advertising is on the internet.
The more traditional forms still have their part to play in spreading the word about your property.
Here’s a little more detail about some of the different forms you can use.
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1. Online databases.
It’s true that these days most people head straight to the internet when looking for their next property. That’s why having your property up on realestate.com.au and Domain is a great way to gain heaps of exposure – and in turn heaps of interested buyers.
It’s super easy for buyers to pull up the website or app from their phone, and flick through all of the photos, floor plans and other information. Your online ad is just a click away from your potential buyers who are scouring the internet for their dream home.
Buyers can even register their details with these online databases and get new listings delivered straight to their inbox. This is convenient for both them and you, because your potential buyers are being instantly directed to your property, without having to trawl through the masses.
The other benefit of online advertising is that they have a super wide reach. Remember how, in an earlier post, I talked about you having several different people in your target market? Your property might be suited to young families as well as empty nesters. Advertising online is a great way to make sure your net gets cast far and wide to catch that variety of potential buyers.
2. Printed listings.
They say print is dead, but not quite yet.
If you have a real estate agent, then your property will most likely be featured in the agency’s own magazine. Before you dismiss this one altogether, keep in mind that these magazines have a pretty strong readership – some have over 50,000 potential buyers reading them weekly. Now, that’s no small number!
Then there are local newspapers to consider too, that can reach audiences who might not even be actively looking for a property. Your property might just pique their interest. Fun fact: 81% of people reading the paper will read the real estate section even if they are not looking to purchase at that time. Those are some promising stats!
Another reason for newspaper ads is they can help you reach out to potential older buyers who still prefer print over digital.
The added benefit is that print advertising is a little bit more filtered, so buyers don’t have as much choice as they do online. When there is heaps of competition out there, this can be a good way of reducing some of the “noise” and help your property stand out.
3. Local marketing.
These are your signs and mailbox leaflet drops.
Signs are essential, and are generally standard procedure when you get an agent to advertise for you. This way, locals and everyone else who goes past the property will know it’s for sale. You might have all the online ads in the world, but when people do a drive by after work, they might just miss your place! Signs are the easiest way to people to notice the house.
Leaflet drops are a sure way to get the neighbours interested. And it’s not just neighbours you end up reaching out to, it’s their friends and family who may be keen to move into the area.
4. Your agent.
Last, but not least is your agent’s ability to advertise.
Now, I’m not talking about them advertising through the above methods. If you’re paying them, they will be doing all of that sort of advertising on your behalf already. And obviously if you are selling the property yourself you won’t have an agent. But if you do, they will have a variety of other ways to help promote the property.
I’m talking database subscribers and other networks that they have formed over the years. Word of mouth is a very powerful form of advertising, and agents have a lot of connections who they can reach out to when promoting your property.
So, how do you get the advertising mix right?
Advertising isn’t cheap, so it’s important to get it right from the start.
Investing in property advertising is not a question of if, but how much. To be able to answer this question you need to look at what sort of buyers you are hoping to attract. For example, if you’re going after those who live locally, then you would want to use letterbox drops.
Of course, this won’t be the only people you are targeting – after all, your potential buyers aren’t just locals who are in love with the area.
The biggest way to maximise the interest – and competition – in your renovated property is to reach as many potential buyers as possible. And that’s where these types of advertising come in. Advertising is a great way to draw attention to your property – and the more attention you get, the more likely you are to reach your profit goals with the end sale price.
So, keep your potential buyers in mind and you will have a winning advertising strategy in no time.