One of the core components of selling real estate successfully is promotion, yet one of the key mistakes sellers make is trying to save minor amounts of money in the marketing and promotion of their property.
The role of marketing is to cast as wide a net as possible to attract as many buyers as possible to your home. The more buyers we can attract the more competition we’re likely to create and the better the price outcome we’re likely to achieve.
So trying to save a few hundred dollars on marketing, which is likely to result in under promoting your property and attracting less buyers, is a false economy.
Marketing your property for sale isn’t cheap. The major portals charge heavily to give you prime position on their websites. But they are also necessary. The adage of where you do hide a dead body on Google – Page 2 – is particularly relevant in a time where buyers are spoilt for choice when it comes to buying property.
But marketing isn’t just about advertising your property on the major real estate web sites – there are lots of ways that you can promote property these days and your real estate agent should be presenting all of those options to you. Don’t just rely on the major portals to get a result.
But here’s a warning – there’s no point spending money on marketing if your property isn’t appropriately priced. Too often I see people spend up big on a campaign only to waste that investment because they lost all that early buyer interest because their property was overpriced.
And when the property finally gets to the right price, it’s become stale, been pushed way down the real estate portals and there’s no more funds to invest in re-promoting it.
You’ve got one chance to make a great first impression and attract all of the hot buyers who will see your property in the first few weeks of your campaign – don’t waste it.