One of the first factors that people think of when selling a property are real…
If you’re like most Australian consumers, you probably use the Internet to find information, stay in touch with friends and family, and even go shopping. Our modern era is called the “Information Age” for a good reason, as it’s now easy to find what you’re looking for with the click of a button. The Internet is the main tool being used for this purpose, via home and business computers. Many industries have had to grow and change to accommodate the Internet’s influence on modern life, and real estate is no exception. The landscape of real estate marketing now takes place in a variety of mediums, with the most successful marketing campaigns reflecting this diversity.
Traditionally, real estate agents would use print media to advertise properties for sale. This could include flyers and newspaper listings. Face to face business was also of utmost importance, conducted using tools such as office meetings, referrals, and seminars. Today’s agents use these same strategies, but the most successful ones also incorporate a high level of online marketing into their advertising strategies. As you compare agents using the online dashboard provided at LocalAgentFinder, it’s important to take note of the strategies that each uses and how they blend traditional marketing methods with digital technology.
Why Internet Marketing is Important
The most recent surveys show that the internet can be the most useful single tool at a seller’s disposal. According to the Macquarie Real Estate Benchmark Report for Australia in 2008, 40% of advertising leading to buyers’ inquiries stemmed from internet advertisements. This was in comparison to 27% coming from print media, 13% coming from referrals, and 9% due to walk-by’s. The percentage of leads coming from online sources has only grown since then as the internet has exploded in popularity over the past few years, with more recent surveys showing this figure closer to 50%. Some real estate agents put the number as high as 80%.
These results show that although traditional methods of advertising are still important, the internet has taken over as a major component of any successful marketing campaign. It’s important to tailor your marketing strategy according to local demographics with the help of a professional real estate agent. Yet in general the best chances of success come from a combination of online and traditional marketing. This approach will help give you the best chances of selling your house in the shortest amount of time, at the highest possible price. At the moment, most sellers only spend a fraction of their marketing expense on online advertising, however. This may be due to a lack of knowledge regarding internet advertising, but if you buck this trend you’ll be miles ahead of the competition.
Research from 2008 from the Nielsen Online Australian Property Report showed that nine out of ten people use the internet to search for property. To make the most of these viewers, properties can be listed in numerous online sites. These include eBrochure, Guaranteed Top Spot, and Feature Property. realestate.com.au is another major listings site, drawing in 4.87 million unique visits in the month of March 2009 alone. Further options include realestateview.com.au, homehound.com.au, and domain.com.au, all of which also receive a massive amount of traffic. Many real estate agents choose to put properties up on multiple websites to increase traffic and the corresponding chance of a sale.
Using listings sites or real estate portals is a great start when it comes to online advertising, yet there are other strategies that can also be employed. The top real estate agents not only use listings sites, but also put property up on other sources as well. These could include:
- Informational websites
- RSS feeds
- Geographical location articles
- Lead capture forms
When you’re comparing potential real estate agents, be sure to ask about their background in online marketing. Choosing a real estate agent through LocalAgentFinder who has a strong working knowledge of strategies like search engine marketing, pay per click advertising, and social networking can help give your property a stronger online presence.
Traditional Marketing Methods that Still Work
Internet marketing can and should be a strong force behind any successful advertising campaign. Yet traditional forms of marketing can also be quite effective, and serve to bolster the effects of the online component. Newspapers and magazines are both still quite relevant forms of marketing, as are listings, photos, and promotional articles in print media. Your real estate agent may attract buyer attention with a direct mail campaign, sending out mailed newsletters, postcards, flyers, and letters. Buyers with traditional values will appreciate the personal touch behind direct mail.
No matter how leads are obtained, the most successful sales will involve having an agent who follows up on those leads. Following all potential leads is how you will ensure that you have a bevy of interested buyers who turn up for a physical property inspection. The right real estate agent will be able to follow up on face-to-face referrals, print ads, or online queries and establish a rapport with a potential buyer. This relationship is what ultimately ends in selling property.
Crafting the Right Strategy with your Agent
Some real estate agents will be more knowledgeable about online marketing tactics than others. The internet can be a wonderful advertising resource, and should be an essential part of any successful marketing campaign. Yet simply placing an ad online is not enough these days. Be sure to choose an agent who will combine internet advertising with the proper follow-up. Internet leads can take more time and effort to follow up on, but they can be an effective way to create buzz around a listed property. Buyers can even now search for property on their iPhone via widgets using real estate portals such as domain.com.au. The ways that you can search for property have multiplied in the past few decades, so it’s best not to miss out on these internet opportunities.
Discuss these possible channels with your agent to create a marketing strategy that will work best for you. Using online advertising requires very little time, money, and effort in comparison to other forms of traditional advertising, making it ideal for most situations. Yet no matter what method of advertising you choose, it’s the effort that your agent puts in to follow up on leads that will ultimately determine how successful your sale is.
The Future of Online Real Estate Marketing
Although in the future it’s possible that the internet will usurp traditional forms of marketing such as print media and referrals, for now it seems that the best approach is a multi-pronged one. Today’s most efficient real estate agents are adept with traditional marketing yet are open to embracing new forms of advertising from blogging to social media. The most successful agents will also know how to sell your home once you have buyers coming in the door, establishing relationships, conducting market research, and helping you stage your house to make it look its best.
As you can see, there are numerous factors that play into a successful sale. Using the internet is one important facet of real estate transactions today, which is gaining popularity. It’s best to find a real estate agent who embraces new technologies while viewing the selling process from a holistic perspective.
Start your search now for a real estate agent by registering your details at LocalAgentFinder. You can receive and compare proposals from numerous agents in order to find one that best fits your needs. This no-obligation comparison tool can help you narrow down your prospects to find a professional capable of striking the right balance between online and traditional forms of marketing, maximising your profit.
You may also find the following articles helpful:
- Listing a House for Sale on the Internet
- Ten Tips to Help you Prepare for Open Inspections
- Marketing Tips to Help Sell your House
LocalAgentFinder View all articles by LocalAgentFinder
The only place to compare agent fees online.