Agents love to discuss marketing. It’s often glossy, exciting and the main part of their presentation. Yet how much of it is necessary?
Most agents will claim that “you can’t sell a secret” however in the world of low-cost online marketing, detailed buyer databases with filtered searches and new property alerts – agents will struggle to convince smart sellers to pay upfront for largely unnecessary advertising campaigns.
To make smart marketing decisions you should consider the cost of advertising and the quality of marketing.
Agents and media companies encourage sellers to focus on the amount, size and positioning of advertising, all of which come with an extra cost. However quality marketing is a cost-effective alternative that generates the same, if not better results.
Often this kind of marketing focuses more on the agents self-promotion than it does on bolstering the profile of the property.
Not all property sells with their first agent. It is not uncommon for auction clearance rates to be as low as 25%. Yet sellers are bearing the marketing costs of these failed campaigns, as agents walk away scot-free.
The true test of any marketing campaign is its end result. Is the property sold? If the answer is no then why should you, the home seller pays?
To attract buyers to a property you need quality marketing. Quality marketing includes the right price, good quality photography, a great script and smart recording of buyers enquiries. None of these requires extensive, expensive advertising. Quantity and positioning, the two factors that cost run a long way behind quality marketing.
Remember the golden rule of selling, pay no money until your property is sold and you’re happy with the outcome.
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