You Can’t Sell a Secret (Part 2)

So, you’ve made the decision to sell, now let’s get the property out to the market. Which platform is the best for advertising your property? Newspapers? Property websites? Social Media?

This is our second instalment of “You Can’t Sell A Secret” which is all about getting your home sold. We’re going to take a look at the pros and cons of the 3 main avenues for marketing.

Let’s start with the traditional method of print advertising. It wasn’t so long ago that most people read the newspaper daily and the real estate sections were bulging with property ads. Every suburban and regional newspaper also ran large property sections. This is no longer the case. They still exist, but they tend to advertise high-end, luxurious real estate with full page advertisements. You will be hard pressed to find an ad for a typical median priced home. And, these ads are typically very expensive. With the advent of online property portals, few people buy a newspaper these days specifically to check out the real estate section. You are better off spending your advertising dollars elsewhere.

In the last 10 years, property websites such as realestate.com and Domain have, for better or worse, taken over property marketing in Australia. Basically, if your property is not prominently listed on these sites then you are at a severe disadvantage. And given that your property is on display 24/7, pretty much until it is sold, these property websites provide far better value than of one off print ad. The position of your property listing on these sites is also of importance. Buyer feedback is that they will not look past the first 1 – 2 pages of listings as they are only interested in those listings that are new and they haven’t seen before. Whilst the larger ads on realestate.com.au do cost more, they also attract the greatest level of buyer enquiry as they appear at the top of the listing search.

So what about social media. Digital marketing has evolved and is a powerful way of targeting buyers at different stages of the property – buying process. How many times have you been searching something online and an ad pops up for an item you’ve looked at previously? This is how digital ads work – they essentially follow buyers (within a set target audience) as they browse the web, reminding them that the property is for sale. Used in conjunction with other forms of advertising, social media/digital marketing can be a cost – effective marketing strategy to get your property out to a wider audience.

A good agent will take the time to design a marketing campaign specific to your property and your budget. Be wary of agents who just offer standard advertising packages. You may end up paying for advertising material that is not needed, or worse, not effective. So be sure to ask your agent why they advertise where they do.

In the last instalment I said that, “To achieve the best price in the shortest time frame, you need to ensure the greatest number of people are aware that your property is for sale.” So keep this in mind when you are deciding how to spend your advertising budget.