As a homeowner looking to sell your property, you’ve probably been inundated with information about marketing. It’s the buzzword that every real estate agent throws around in their sales pitch. But how much of it is actually necessary? And how much of it is just a waste of your money? In this article, we’ll break down what you really need to know about marketing when selling your property.
What is Needed in Marketing a Property?
The first question you may have is what exactly is needed when marketing a property. Real estate agents will often tell you that “you can’t sell a secret”, meaning that without marketing, your property won’t sell. However, with the rise of low-cost online marketing and detailed buyer databases, agents are struggling to convince savvy sellers to pay for extensive marketing campaigns.
When it comes to marketing a property, there are two main factors to consider: the cost of advertising and the quality of marketing. Many agents and media companies will encourage sellers to focus on the amount, size, and positioning of advertising, all of which come with extra costs. However, quality marketing can be a cost-effective alternative that generates the same, if not better, results.
How Much of Marketing is Waste?
The reality is that a lot of marketing for properties is simply a waste of money. Quantity and positioning of ads can often run a long way behind quality marketing when it comes to attracting buyers to a property. In fact, quality marketing includes the right price, good quality photography, a great script, and smart recording of buyer enquiries, a for sale sign and some good online listings in the right places – none of which necessarily require extensive or expensive advertising. Ultimately you want to make it easy for the right buyers to be able to find your property. There is no sense spending money on showing the property to everyone!
It’s important to remember that the true test of any marketing campaign is whether or not the property is sold. If the answer is no, then why should you, the home seller, have to pay for marketing that didn’t work?
How Much Do I Pay If The Property Doesn’t Sell?
This is where the golden rule of selling comes in – pay no money until your property is sold and you’re happy with the outcome. Some agents may ask for upfront fees for marketing, but as a seller, you should be wary of this. If your property doesn’t sell, you shouldn’t have to pay for marketing that didn’t work.
Making Smart Marketing Decisions
To make smart marketing decisions, it’s important to understand that advertising isn’t the only way to market a property. In fact, it may not even be the most effective way. Instead, focus on quality marketing that highlights the best aspects of your property and attracts the right buyers.
Ultimately, marketing is an important aspect of selling your property, but it’s not the only thing that matters. By focusing on quality marketing and the right buyers, you can ensure that your property sells quickly and at the right price.
- Is extensive advertising necessary to sell my property?
No, extensive advertising is not necessary. Quality marketing that highlights the best aspects of your property can be just as effective.
2. Should I pay upfront for marketing?
It’s best to avoid paying upfront for marketing. Instead, wait until your property is sold and you’re happy with the outcome.
3. What makes for quality marketing?
Quality marketing includes the right price, good quality photography, a great script, and smart recording of buyer enquiries.
4. How can I attract the right buyers?
By focusing on quality marketing that highlights the best aspects of your property, you can attract the right buyers.
5. What should I do if my property doesn’t sell?
If your property doesn’t sell, you shouldn’t have to pay for marketing that didn’t work. Stick to the golden rule of selling – pay no money until your property is sold and you’re happy with the outcome.