How do you market your property when selling in our digital era? The traditional sales and marketing process in real estate has evolved dramatically. Instead of relying on local agents and shop windows, we now have major listing portals like realestate.com.au and domain.com.au in Australia.
Why is marketing your property important?
Marketing is an investment in yourself. It’s not a cost or reliability so you need to maximize the exposure, catching all the potential buyers for your marketplace.
The more you spend on marketing, the greater the chance of finding that perfect buyer who will pay a premium price.
Buyer Competition
Marketing should be there to create buyer competition, so that multiple offers come in and you can work with those offers to secure the very best price for your property. This principle has always been important in real estate, and sales in general.
Modern Real Estate Agents and Marketing
Few agents in this day and age demonstrate an understanding of modern marketing. We see so many agents only list properties on two major portals. This is because it is all they know how to do, apart from offering print advertising.
Social Media, Digital Marketing and the rise of Video have been more recent developments, and most agents are finding it difficult to fully take advantage of these mediums.
For instance, many agents will not understand how to use Facebook and Instagram differently to realestate.com.au and domain.com.au. This comes into the difference between warm and cold traffic.
Warm and Cold Traffic
Let’s use the example of realestate.com.au vs. Facebook to market your property when selling.
When people go onto realestate.com.au, they are hot traffic. They are looking to learn more about prices, see what is on the market, and check out options to buy.
People don’t go into Facebook to make purchasing decisions. They are more of a cold audience. They are on there to make a post, check notifications, see photos of people. We advertise to people on Facebook by creating content that they are looking for here, and then distract them.
So these ads are designed differently to have full effect. Mediums like Facebook, Instagram and Youtube can also be very targeted. They can target people based on area, and interest.
The crazy world of targeting, re-targeting, look-alike audiences and cost per impression is far and beyond traditional agents. The same can be said for real estate property videos. The industry’s future is going to be extremely digital and geared towards a new generation who understand these platforms.
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