Marketing properties for sale or for lease requires a multi-layered approach to ensure your property is reaching not only the widest possible audience but also targeting the right audience from day one.
It is pertinent to put your best foot forward first when it comes to property marketing, to ensure you aren't wasting days or weeks on the market with little to no action. For every day your listing is on market and not registering interest, your listing becomes stale, and those that may have been watching it over the course of a few weeks will start to wonder - 'what's wrong with it?' A soft marketing launch can end up costing you money not only in the weeks it is sitting on market, but the advertised price range may come into the picture in order to rectify buyer or tenant interest in your property.
A good agent will have a strong marketing strategy and they will be able to explain the many layers of marketing and the importance of each one.
One strategy that sellers are liking is the email database campaign. Before you get too excited by this marketing strategy, it's crucial to understand how all of the different marketing tools agents use work, and how they can impact the best and final offer on your property. Whilst it might sound amazing that you can save yourself around $2000 on an off-market listing that is promoted solely through the agent's exclusive buyer database and website - that $2000 that you saved may mean you're missing out on a buyer who had $10,000 more to spend.
Agent databases are great because as agents, we are trained to collect details and stay in touch with our subscribers to tell them about new listings and our success stories. But whilst email marketing SHOULD be a part of your overall property marketing strategy - Stanton & Taylor Real Estate would not recommend making it your only strategy. Whilst some local agents will have a proven track record of success marketing properties this way, the one thing they can't tell you is if they could have gotten a higher offer by marketing to a wider audience.
Right now, there are a lot of prospective purchasers coming from out of area, looking to relocate to Penrith, but they don't have a relationship with Penrith real estate agents yet. They are the buyers who are relying on the most widely used property marketing tools because they don't know the names of the individual local agents to search their websites or sign up to their email databases. These buyers are important to the sale of your property - they might be your buyer, but if they aren't your buyer, their presence at your open home will show your buyer that they need to put forward their very best offer to secure their dream home. More competition equates to better offers.
We are all familiar with the major real estate websites - Realestate.com.au and Domain.com.au. These two websites reach hundreds of millions of property buyers nationally each month. In October 2020, Realestate.com.au reached 125million nationally, but in the Penrith LGA there were 12.4million unique users visiting the website and searching for property for sale in our local area.
One of our recent sales was a property in Glenmore Park that went to auction on December 5, 2020. This property was marketed strategically by Stanton & Taylor Real Estate, and was the most viewed property online for the month of November, and the sixth highest-viewed property in NSW that month. Each open home had approximately 20 groups turn up for an inspection and auction day had over 25 registered bidders, as well as a large number of interested parties coming to watch the auction unfold.
A great number of the registered bidders at the auction were from out of area and had never had previous contact with us as an agency. They found our listing from the major real estate websites, and whilst they are now on our email database, it's important to remember that we would not have achieved the same result without the power of the portals. Advertising online is one of the more significant expenses involved with real estate marketing, but it is detrimental to a successful sale and a strong marketing campaign.
You might not think much of the print portion of your marketing campaign, but it is important for us as agents to present your property professionally for a number of reasons. The signboard alerts neighbours in the area who love their neighbourhood but are possibly looking to upsize or downsize that there is an opportunity for them to stay in the suburb they love. It also helps purchasers who are coming from out of area to find your property for open home inspections. The brochures are perfect for handing out at open homes and a crucial part of marketing to those that we have identified are serious buyers.
In order to create these materials, we must organise a professional photo shoot of your property to showcase it in its best light for those looking to purchase. Professional photography is really important for highlighting the best attributes of your home and marketing it successfully. Any agent who claims they can sell your home before professional photos are taken isn't giving you the best opportunity to reach your maximum audience.
If you would like to find out more about Stanton & Taylor Real Estate's marketing strategy and how we can help you to receive the best offer for your property, call us on (02) 4731 2899.