As the market mood changes, sellers will be well-served by paying additional attention to the quality of the marketing campaign for their property.
A campaign targeted to prospective buyers for your area can earn you tens of thousands of dollars more for your property than a half-hearted or cut-price effort that fails to capture the imagination.
We encourage sellers to invest where buyers are biting – predominantly online with the established real estate sites and social media channels.
In our experience, sellers who have not been exposed to the power of marketing in their work lives can be concerned about the expense, seeing it not as an investment but a personal cost.
While every property needs to be treated slightly differently, depending on its style, size, location and potential buyer segment, it’s not unusual to spend between $3,000 and $5,000 on what agents call VPA, or Vendor Paid Advertising. Property firm CampaignAgent says the average spend nationally by sellers in January was $5,100.
Interestingly, clients were willing to spend at the top end of this estimate during Covid, and that level is being maintained even as the market exuberance of the past two years dissipates.
When planning a marketing campaign, there are a number of essential elements that will help maximise the value of your property.
Video
This is the new kid on the block of real estate marketing. Outside of the luxury sector, it’s largely replaced print advertising and is much cheaper. Your video must show the space and how rooms link and exploit any views. It’s not a Hollywood audition for your agent.
Photography
You cannot beat great photography. It’s essential for pretty much every media channel you decide to use. Don’t skimp on this: an experienced real estate photographer is worth every penny.
Social media
Instagram and Facebook are two great ways to attract buyers, with both photographs and videos working well on these platforms.
Property portals
Domain and realestate.com.au are the obvious choices for most sellers. Talk to your agent about what it costs to get on the first page of the search results. Buyers don’t click beyond the second or third page of results.
Signboards
Serious buyers who want to live in your area will be cruising the streets, so invest in a great signboard. The 4×3 boards are standard. You’ll attract more eyeballs by pushing the boat out here. Consider an illuminated board measuring either 8×6 or 8×4.
Staging
While at the top end of a budget, staging your home is a great investment. We’ll hire a professional to style your home, renting appropriate furnishings and art to put your property in the best possible light. Your end of the deal is to place your belongings in storage.
NOTE: The information in this article is general in nature and provided as a general overview only. Always consult your financial advisor or accountant for advice specific to your personal circumstances.