The first time potential buyers are introduced to your property is through marketing. This all important introduction will heavily impact the sale of your property and is key to achieving success.
Many owners will disregard the importance of good marketing. We quite often get questions like, ‘can we just put an ad in your window’; or ‘can you just bring buyers over from your other properties’. These options will work if you only want 1 or 2 buyers through your open house, but to achieve the the top market price, urgency and competition must be created and this can’t be done without marketing. Statistics now show us that 92% of buyer enquiries come through some form of online marketing.
If I asked you what the highest selling burger in the world was, you are most likely to say the McDonald’s Big Mac. It is estimated that 550 million Big Macs are sold each year! Why is that? It definitely isn’t the best tasting burger in the world; but it’s familiar, accessible, and you see the golden arches every few blocks in most cities in the world (they have even managed to open a few stores in communist Vietnam). If McDonalds had not implemented a successful marketing strategy then would we eating 550 million Big Macs a year? Most likely not!
When selling your home it is crucial to have as many eyes on your property as possible. It doesn't matter how good your agent is, if your home is invisible to buyers, how will they know your home is for sale and how are you going to achieve a top market price? A property may be immaculate, fresh and supremely interesting but if you don’t tell ‘the world’ about it, how will they know? It is impossible to sell a secret!
Like McDonalds, you need to make sure that your home is on show for the world to see. The news that your property is for sale should reach as many potential buyers as possible to achieve your target of selling price (or more!).
There are several essentials that you need to consider, effective real estate marketing creates buyer interest via 5 specific sources:
1. Your agents buyers list
2. Outdoor visual
3. The ‘Open House”
4. Paper Marketing
5. Online Marketing
1. Agent's buyers list
If you’re not tapping into your agent’s current buyers you’re passing up a huge opportunity to generate extra interest in your property. Your agent is consistently attracting buyer interest from any number of homes they are selling, or through their buying services. There can only be one buyer for each home so it stands to reason the agent will have buyers left over. This is a valuable resource every seller should use to their advantage. Agents are constantly working with buyers to match them with the right home.
2. Outdoor visual (signs and directional signs)
When a buyer begins to consider an area in which they want to live, they start ‘cruising’. Im sure you've done this, I know I have many times. It’s a great way to go shopping for your next home and is how I found my first property.
I drive around the area and follow the pointer or directional signs on corners indicating a home for sale. If I like the look of the street and the property, I will call the number on the sign board and find out the asking price and features of the property.
Real Estate professionals know that an enquiry from a sign normally means that someone is ready to buy. The buyer has gone to the trouble of visiting the area and shown enough interest in the property from the outside to call and find out more.
3. The ‘Open House’
Your open homes is the most likely place that you will find your buyer. Ensure that your agent has advertised the open times on all their internet marketing portals and signboard at least 4 days before the open.
Buyers everywhere like an open house because they can view the property in a casual relaxed way. Make sure the house is immaculately presented (check out our how to present your home for sale check lists) to ensure your property is presented in the best way possible for potential buyers.
Competition is created when multiple buyers attend your open house.
4. Paper Marketing
Advertising in the local newspaper and ensuring your neighbourhood has been saturated with flyers notifying them that your house is on the market is ‘pure gold’. The thing is, we don't know where the buyer is coming from and there is a high chance one of your neighbours could know someone looking to move into the area.
5. The Internet
As already mentioned, statistics now show us that 92% of enquiries come from the internet. These are staggering statistics but hardly surprising in a world where consumers expect information at a click of a button. Why wait for the weekly property guide when you can search for real estate right now?
Major industry sites remain the heavy hitters, but this is constantly changing. Ensure that your agent is marketing your property on social media platforms as well, as this is where the majority of people spend their time these days.
If there was only one source out of the five I could use to sell a property it would be the internet, no questions asked.
Marketing, some people don't believe in it but I certainly do!
If you would like further tips on how to sell your home for more call Alex on 0432 552 209 or send us an email to firstname.lastname@example.org