Leveraging Marketing: Effective Marketing for Successful Property Sales
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I’ve learned over the years that effective marketing is not just about showcasing properties; its about sparking interest and driving results.
Excited to share Article on the 4th component of our SELLWISE Strategy ‘L’ ‘Leveraging Marketing’ following the last post on ‘Legals & Financials’.
This component focuses on maximising property sales through strategic marketing techniques.
Here are the Key Items Summarised:
- Purpose: Boost visibility, generate interest, build credibility and speed up sales
- Property Preparation: High quality photos, compelling descriptions, engaging video tours
- Consequences of Neglecting Marketing: Limited exposure, low interest, longer time on the market, missed opportunities
- Case Study: Listed for 1 year to Sale Agreed in 3 weeks!
- Solutions: Professional photography/videography, optimising Property Listings, Social Media Marketing and Agent Database
What unique features or aspects of your property could set it apart from others? Share in the comments below.
Helping one person, one property in one place at a time.
Introduction
Effective Marketing is crucial in property sales. Imagine listing your property without any professional photos or detailed descriptions – potential buyers might just scroll through without giving a second thought. Effective marketing ensures that your property stands out, is eyecatching and above all sparks interest. Our SELLWISE Strategy is a structured approach to selling designed to maximise outcomes and results for property sellers.
The fourth component of our SELLWISE Strategy ‘L’ is ‘Leveraging Marketing’ which focuses on the strategic use of marketing techniques to maximise your property sale.
This article will delve into the purpose of leveraging marketing, why it is important, the problems that arise and consequences when it is neglected and the solutions including the various marketing strategies that can be employed to maximise your property’s visibility, appeal to the right buyers and ensure a successful sale.
Purpose
The primary purpose of leveraging marketing is to reach the right audience, highlight unique features and create compelling descriptions to attract buyers. Effective Marketing will:
- Increase Visibility: Ensure the property is seen by a wide, relevant audience
- Generate Interest: Create a buzz to generate leads and inquiries.
- Build Credibility: Establish trust through professional material.
- Facilitate a Faster Sale: Attract serious buyers ready to place bids.
Why Marketing is Important
Marketing is essential in property sales because it:
- Attracts Potential Buyers: Reaches a wide audience, increasing the chances of attracting genuinely interested buyers.
- Highlights Unique Features: Uses high-quality photos and descriptions to make property more appealing.
- Creates a Competitive Edge: Sets the property apart, potentially leading to higher offers.
- Builds Trust and Credibility: Professional content builds trust with buyers.
- Speeds Up the Sales Process: Generates interest, reducing time on the market.
Preparing Your Property for Marketing
Prior to marketing, ensure your property is ready to be presented:
- High-Quality Photos: Quality photography presents your property in its best light and has a significant impact on your property’s appeal.
- Brochure and Online Descriptions: Compelling and detailed descriptions connect with the right buyers.
- Virtual and Video Tours: These will increase engagement and allow buyers to view remotely.
Problems When Marketing is Not Leveraged
Neglecting marketing can lead to:
- Limited Exposure: Fewer potential buyers see the property.
- Lack of Interest: Poor marketing may fail to generate interest.
- Lower Perceived Value: Poor presentation can make buyers question the property’s quality.
- Longer Time on the Market: Ineffective marketing can result in prolonged listings.
- Missed Opportunities: Potential buyers might not be aware the property is for sale.
Consequences of Neglecting Marketing
Failing to leverage marketing can result in:
- Prolonged Sales Process: Longer sales process causes frustration to sellers and buyers
- Reduced Selling Price: Prolonged listings can lead to price reductions.
- Increased Costs: Longer listings incur higher costs including mortgage and maintenance costs.
- Stress and Uncertainty: Extended sales processes create stress and uncertainty.
Solutions & Potential
To avoid these pitfalls and maximize your property sale, it is essential to leverage various marketing strategies effectively with your Estate Agent:
- Professional Photography and Videography: Use high-quality photos and utilise video and virtual tours. Drone footage adds appeal, particularly for luxury homes, rural or countryside properties, or properties by the sea to capture the expansiveness and natural surrounding beauty.
- Property Listing and Online Portals: Listings can be optimised with quality photos, detailed descriptions, and relevant keywords. Premium listings on portals can also be considered.
- Social Media Marketing: Use Facebook, Instagram, LinkedIn, and TikTok for a broad and targeted reach. These platforms can allow for targeted advertising, talking points and direct engagement with potential buyers.
- Agent Database & Email Marketing: Your Estate Agent’s existing network, database and previous underbidders will add great value to the marketing strategy to find potential buyers.
Case Study/Success Story: Detached Property Sale
Property: Detached 1.5 storey residence c.250sqm on 4 acres.
Background: Approached by Client who had property on the market for a year. They advised that interest had wained and there was 1 bid well under Advised Market Value and little current prospects.
Challenge: Seller wanted Full Asking Price as per AMV. The property was a beautiful home situated c. 23 km from Limerick city and was accessed via a long boirin road in a very rural area with the surrounding roads being very narrow and with bends which would affect the commute time to the city; particularly if there were poor weather conditions. The property was also in the middle higher bracket range, mostly associated with a much smaller pool of buyers at the time.
Strategy: High quality photography, creation of a compelling narrative following identification of typical ideal client, target marketing, professional floor plans to showcase the stylish interior layout, and drone footage to encompass the exterior including 3 acres of lands and environment.
Result: The brochure description created an emotional connection with the right buyers in terms of both the property and from a lifestyle perspective; leading to a successful sale within 3 weeks for the full Asking Price. The feedback from the buyer was that they “could not stop reading the brochure”!
Conclusion
Understanding the value of marketing, developed in conjunction with your Estate Agent is crucial in property sales. The fourth component of our SELLWISE Strategy ‘Leveraging Marketing’ emphasises the importance of combining online and digital marketing strategies to maximise visibility and appeal and ensure a smooth and successful sale.
Summary
Effective marketing is essential for a successful property sale to generate interest from the right buyers for your property. Neglecting this aspect can lead to prolonged sales processes, reduced pricing, increased costs and stress. The sample Case Study Success Story highlights the effectiveness of leveraging marketing. A comprehensive marketing strategy including assessment of the sale on an ongoing basis by your Estate Agent will maximise the potential of your property sale.
To maximise every aspect of the Sales process, including Marketing which we have just discussed, we will be diving into the further elements of the SELLWISE Strategy. Stay tuned for the next article when we will look at the fifth component ‘W’, Winning Negotiation!
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