Advertising

When putting your property up for sale it is essential to advertise it. This is no different in principle to what you would do if you were going to sell your car for instance. The first thing that you would think of is to advertise it.

The world of Real Estate is changing…

Today it is essential for your Real Estate Agent also to be a marketing agent. He/she must be able to advise you where to advertise your property to ensure it is seen by prospective buyers most likely to be interested.

Today, people buy properties differently; they rarely walk from agent to agent to find the property that they are looking for. Modern media like newspapers, magazines and the internet are a part of their daily lives so they simply flick through the pages and select properties that catch their eyes and they often prepare their inspection list before they ever contact an Agent.

Why Advertise?
Approximately 90% of all buyers make their first contact with a Real Estate Agent from advertisements or signs. So if you aren’t advertising your property you are definitely reducing your chance of getting the best price in the quickest time. The more buyers that know about your property can mean a higher price received. For example, if your property was put up for sale and you had one enquiry versus if your property was marketed correctly and you attracted approximately fifty enquiries, in which situation do you believe you would have the best chance of getting the best price in the quickest time? The answer is easy! Naturally the more potential buyers you draw to your property the more you will increase your chance of finding the buyer that it ideally suits. The real buyer is normally willing to pay more money than the rest.

YOU CANNOT SELL A SECRET!

In Queensland the Real Estate Agent receives one of the lowest commissions in Australia. Offices are responsible for large overheads and operational costs. These expenses limit the amount of money that can be allocated towards marketing. However, agents do expend monies by way of window displays, signs, referral networks, exposure on the internet, local promotions and displays.

To increase your properties exposure you should be willing to make a commitment by investing in your properties marketing. After all, your solicitor does not pay your court costs, your doctor does not pay your medical bills and your mechanic does not pay for your car to be repaired. Are you happy to pay for advertising your car for sale? Then why not your most valuable asset – your own property? Be in control.

The Law - Did you know?

• 1. The Agent now has a vested interest in the property. In other words, it now owes them money. All too frequently a sale must be secured at any cost to recover their investment.
• 2. The Agent has lost impartiality in their dealings. How can a sale be fairly negotiated when there is pressure on the negotiator to recover their funds from the transaction?
• 3. The property owner often feels under pressure from the Agent to sell on terms and conditions not totally satisfactory to them. They feel more stressed and under obligation to compromise their decision-making than they would have in a normal selling environment.
• 4. The property owner has lost control of the transaction. The old saying: “He who pays has the say” well and truly applies in this situation. Often the owner will complain that the advertising was not complimentary of the property or inadequate. However, they were not paying the bills so they are not entitled to any input! This is very common in advertisements where high-pressure pitches are used such as ‘desperate owner has to sell’ or ‘make us an offer’.
• 5. The client/agent relationship does not have the same degree of accountability. Technically, the Agent now has become a business partner with the property owner rather than an independent third party offering professional advice and service.
• 6. Very few Agents can afford to provide adequate marketing funds for a comprehensive marketing campaign for a client’s property. Therefore it would be difficult to argue that it sold for the maximum price in the market place.

• 1. The address of the properties which they market
• 2. When they were listed, how long they have been on the market, and if sold, how long did they take to sell
• 3. The listing price and the selling price and any price reductions
• 4. The type of marketing campaign, including what media was used, the size of the ads and how many ads were even run

• 1. The property was inadequately marketed. In other words, it has been under-advertised and placed in low cost publications or in-house publications, which have low exposure to the marketplace
• 2. The property took longer to sell
• 3. The property owner had to eventually contribute funds at a later stage. (usually when it is listed with another more effective agent.)
• 4. The property ultimately sold for less than it would have if launched professionally with a personalized high impact campaign rather than a string of random ads.

Overpriced Property Statistics - Loss Of Buyers:

The Four "P's" Of Marketing