Are your vendors making the most of real estate marketing? And just how efficient is property marketing in boosting engagement and maximising profits?
Here are some compelling facts that prove how powerful a proper, multi-level marketing strategy can be in bringing buyers to the front door.
Selling property in a digital age
With the rise of social media, real estate data aggregators, property listing sites and apps, the Internet has revolutionised the way we research and showcase properties.
2016 survey by Nielsen NZ found that, when researching their dream home, more than four in five New Zealanders (82%) look to find information online. That is not to say that other resources – like real estate magazines, ‘For Sale’ signs and window display – have their days numbered, as they are a great complement to the online space. However, many real estate agents are finding in online channels and social media a great source of high-quality leads.
At home in New Zealand, 2.9 million Kiwis – well over half of our entire population – have an active account and 2.3 million access Facebook on a daily basis. Plus, real estate tracking and property listing platforms like propertypress.co.nz, realestate.co.nz and Trade Me Property provide a plethora of insights at buyers’ fingertips. For vendors and agents looking to generate leads, these tools can be a goldmine of opportunities.
So, what attracts house hunters?
Pictures, floor plans, virtual tours, videos – there are many features that can make a property listing stand out. And by far, professional photos are the number-one attention-grabber.
The importance of professional shots
In real estate, a good photo is literally worth thousands.
According to research, listings without a photo only have two seconds to grab a buyer’s attention, which increases to 20 seconds for listings with photos. Buyers spend on average 60% of their time looking at listing photos, and only 20% on the listing description. Not only that, but listings with photos were found to sell 32% faster.
A floor plan is a good plan
A 2011 survey commissioned by Realestate.co.nz found that 89% of New Zealanders wanted to see floor plans for every listing they viewed.
Technology has come a long way from static image-based floor plans. Today, interactive floor plans allow buyers to explore the property and even visualise different room configurations, colours and furniture arrangements.
Once again, it’s about helping buyers appreciate your properties even more, from the convenience of their smartphone or computer. And it’s a strategy that sells: according to the UK biggest property portal, Rightmove, using floor plans can increase buyer interest by a staggering 30%.
Game of drones
Thanks to lowering costs, drones are becoming an increasingly popular addition to property marketing packages – to the extent that real estate agents are projected to account for 22% of all commercial drone use in 2020.
Offering cinematic, aerial footage is a great way to take the buyer on a tour of your property and the surrounding area – and more and more agents are choosing to take advantage of this innovation.
The latest statistics from REINZ research found that, in 2019, 66% of New Zealand real estate agents surveyed had invested in using drone footage, up from 51% two years ago. And if US stats are an indication of vendors’ sentiment, it may be a good idea.
According to TheClose.com, 73% of home owners are more likely to list with a real estate agent who uses videos to sell property; and properties with drone photography are likely to sell 68% faster than those without.
Let’s not forget about home staging
Once you have enticed buyers to your viewing, it’s important to help them visualise the property as their future home. And that’s where professional home staging steps in.
Through design and conceptualisation techniques, home staging helps emphasise a property’s strengths and minimise its weak points. And as statistics show, it works. In 2018, it was reported that 85% of staged homes sold for up to 25% more than unstaged homes. What’s more, they tend to sell 73% faster.
Give buyers the right options
The right property marketing campaign can capture the attention of potential buyers, get more vendors to your door, and help grow your real estate business. So make sure you stay on top of the game and use the right tools in your toolbox, at the right time.
Like to discuss this further? Visit lifestylefinance.co.nz for more information about how we can help your vendors fund a premium marketing campaign.