Vendors Wrongly Shying Away From Marketing Spend

Kiwi vendors are increasingly shying away from spending money on advertising their properties, but the benefits of investing in a strong marketing strategy can be huge, says Derryn Mayne, Owner of Century 21 New Zealand.

“Serious and targeted marketing will help deliver a faster, more efficient sale. It will also give the property more exposure, generating greater interest, lifting competition, and ultimately delivering a more favourable financial outcome. However, too many vendors think just listing a property on the internet will be enough to sell it. Sadly, those days have gone,” she says.

Even if there is substantial interest in a property within the first week or two, Ms Mayne says the intensity of a marketing campaign should not be reduced, but maintained, to keep interest alive right through to its sale.

She says before even contemplating a marketing strategy, seek out an agent who not only has a strong database, but also maintains a line of contact with clients. They will know who the potential buyers are and will leverage their relationships and expertise to match appropriate buyers to a vendor’s home.

“An experienced agent will also know how and when to ramp up momentum, which is critical to a successful sale. On marketing choices, don’t let them tell you that it should be either all digital or mostly traditional. It’s both!”

Using a combination of both traditional and digital tools will ensure a vendor’s property pops up wherever buyers are looking.

“Digital platforms are generally the first port of call for buyers, and can reach thousands of people instantaneously, so it's highly advisable to create a strong online presence using only professional photographs to showcase the property at its best. And remember, declutter for the photographer and open homes, style with neutrality, and keep both inside and out very tidy.”

Another drawcard for an online campaign is the ability to include virtual tours, with drone footage also becoming popular. Videos can easily be pushed out on social media, which again increases your property's exposure.

“Traditional marketing well and truly has its place. Print advertising is a great way of reaching people looking to buy in a specific area or getting the attention of friends and family who may be casually looking out on behalf of buyers. Again, quality imagery is key, as is crafting professional descriptions that will inspire,” she says.

The real estate boss says don’t underestimate the humblest real-estate marketing tool: The 'for sale' sign. Perched outside your property, it’s still a very effective way to generate interest in your home. Serious buyers will take the time to drive through areas they want to live in, and on-site advertising gives them a simple way to contact the agent. 'For sale' signs on other neighbourhood properties can also be helpful when considering who to list with.

"Seek out agents in your area who have sold signs on properties, as they will surely have other buyers who missed out on a sale and are waiting for another property to come along.

“But the golden rule remains: Go the extra mile with marketing. Even it if generates that one extra buyer needed to create serious competition, the sale result will be that much better," says Derryn Mayne.

www.century21.co.nz

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