The marketing plan presented by your agent reveals their strategic approach to selling your property.
Advertising is not a perfect science and is always constrained by the likely return on investment.
You should consider a minimum spend of $2000 for a four-bedroom family home as a starting point to gain attention across a range of media channels.
Key questions to ask to help you set the right budget include:
1. What is your agent’s assessment of a buyer profile for your property? Ie: your property might be near local schools and therefore be suitable for young families.
2. Which media channels are being proposed – internet, newspapers, database marketing, mailbox flyers, agent website, video, email?
3. What is the cost of each channel?
4. What is the frequency and time period that each channel will be used?
5. What is the expected impact of each channel based on your agent’s previous campaigns?
6. How do the channels combine to achieve maximum impact with target buyers?
7. What is a projected breakdown of the number of potential buyers who will be attracted?
8. Does your agent have any payment plans that will allow you to take the cost of the marketing out of the final price once the property is sold?
Experienced agents know the types of buyer your home might attract and their research and general reading habits. You’ll find that internet listing sites, such as Domain and realestate.com.au, are extremely popular while the local newspaper can provide a complementary channel.
Do not forget the importance of your marketing campaign for quality photography. Your agent will recommend investing appropriately to ensure your home makes a strong impression in any media. Poor quality photography will cruel any marketing campaign.
The marketing plan might be expanded for prestige properties to include a video walk-through, an advertisement in a glossy magazine and even a social media campaign that targets certain wealthy demographics.
Other elements that will support this activity will feature quality signage at the front of the house. For a minimal investment, you might decide to have it lit up at night.
While the desired results can never be guaranteed, it is important you are satisfied that your marketing campaign is sufficient to attract the right type of buyer for your property and limit the time your property will be on the market.