The saying “you have to spend money to make money” might ring true when it comes to putting your home on the market; maybe that’s the difference between getting a good price and getting a good price.
Having worked in marketing for 10 years before entering the real estate industry, Laura Johns, sales manager of Claremont Ray White Dalkeith, knows how beneficial it can be to invest in marketing your property to get the desired result.
“Marketing a property for sale is key to attracting inquiries, offers and ultimately a high selling price for your property,” she said. “However, marketing is a huge expense and it’s important to get it right from the start of the campaign.
“The launch phase is the most important time to gain traction and momentum.
“Methods such as property portals such as realestate.com.au and Domain, signage, direct marketing and print advertising all play an important role in getting your property out there and encouraging healthy competition among buyers.
“In addition to this, we recommend social media, 3D tours and videos to ensure you cover all channels when promoting your property.”
Ms Johns said the rise in popularity of three-dimensional tours was due to the COVID-19 pandemic and allowed buyers to tour the property online and buy without seeing it.
“They appeal to interstate and international buyers who can’t view property in person and they protect us from foreclosures because everyone has access to property online,” she said. “These virtual tours are a marketing tool we highly recommend in 2022 as Western Australia faces uncertainty with the reopening of borders.”
Some people are hesitant to market their home for different reasons such as not understanding a specific marketing tool or not wanting to spend money without knowing exactly what return they will get on their investment.
“Some marketing tools are easier to measure, for example, we can track visitation and demand levels through property portals, which makes those expenses easier to justify,” Ms Johns said.
“Signs are harder to measure because we can’t track inquiries and conversions as people walk or drive past the sign and then call the agent or attend the house opening.
“You need to reach as many people as possible to generate as many leads as possible in order to achieve the highest sale price. So you need to make sure your property is visible to a wide range of buyers to get the most high level of investigation and commitment.
“Good marketing is all about maximizing exposure to capture people’s attention and interest in a property.”
Ms Johns suggests sellers trust their agent and look to them for advice and guidance when deciding how to market their property.
“All parties want to work to get the best possible price for the property, and engaging in a well-executed marketing campaign will help achieve that,” she said.
“Marketing your home gives you the confidence that you have communicated that your property is for sale to the best of your abilities and that you have given every potential buyer the opportunity to inquire.
“You don’t want to miss out on a dream buyer because you haven’t spent a few hundred dollars on professional photos.”