If the latest residential estate data is anything to go by, the property market is still the hero of the day.
Underpinned by low listings and Kiwis’ desire for homeownership, house prices continue to defy gravity in many regions. But if the ride has been thrilling so far, this is no time to rest. Spring typically brings more listings and more buyers in the market.
Like to make the most of the season and help your vendors achieve a great selling price? Here are some common real estate marketing mistakes to avoid, according to the experts*.
Not engaging regularly with your audience
When listings are low, competition for listings is inevitably high. Staying top-of-mind for potential vendors and buyers is crucial – you never know who might be back in the market.
Luckily, open homes offer a great opportunity to collect relevant data. The most basic way to use this wealth of information is to send out regular emails to your audience, keeping them up to date with the latest sales prices and listings.
For extra impact, you may be able to segment your audience based on certain parameters like location, purchase history or budget. By getting to the right people, well-targeted communications can be far more effective than generic messages sent to everyone.
Not having a well-designed website
While property websites like Trademe.co.nz, Realestate.co.nz and PropertyPress.co.nz are great attention-grabbers, this doesn’t mean you can do without your own website.
When building a strong digital presence – and a strong brand – your website, social media and email communications are all equally important. Think of your website as a storefront open 24 hours a day, and a business card you don’t have to hand out. Your next buyer or vendor is just one click away.
Thinking that the listing will do all the heavy lifting for you
As most real estate agents know, selling property requires a great deal of energy and time. Sure, some properties seem to sell themselves, but in most cases, you need to support your listing with continuous and multi-channel promotion.
Facebook campaigns, Google ads, emails, personal outreach – the list is long. Spread your message via as many channels as possible, prioritising those that your audience is more likely to spend time in.
Not having a measurable plan
When marketing a property, identifying the right channels is just one of the steps. It’s important to have a plan – understand your target audience, determine your strategic goals, and have some basic KPIs and an idea of what the ROI may look like.
Besides total visits and lead conversion rates, you can also measure the success of your marketing efforts by asking prospective buyers who are visiting your open home how they found out about it. This should give you an even better understanding of what works, where and with whom.
Overlooking the power of images
Great imagery, be it videos or photos, is more important than ever in real estate.
A poor-quality photo is more than an oversight: it can be the difference between someone scrolling away or visiting your open home this weekend. You only have a few seconds to impress the right buyer, so having a reasonable number of quality photos, displayed strategically (best features first), is the way to go.
A ‘reasonable’ number means enough photos to showcase the home in its best light, without overwhelming buyers with too many shots. It’s just a sneak peek: leave them wanting for more.
How we help vendors cover their marketing costs
At Lifestyle Finance, we specialise in helping Kiwi agents and vendors make the most of the property market.
Our ‘Advertise Now Pay Later’ package is designed to provide your vendor with the funds they need to secure a top-notch marketing campaign (including home staging, LIM, building and meth reports). What’s more, they won’t have to make any repayments for 120 days.
Visit lifestylefinance.co.nz or call us on 0800 100 265 to learn more.
*Sources:
Disclaimer: Please note that the content provided in this article is intended as an overview and as general information only. While care is taken to ensure accuracy and reliability, the information provided is subject to continuous change and may not reflect current development or address your situation. Before making any decisions based on the information provided in this article, please use your discretion and seek independent guidance.