In tough times you may consider tightening your purse strings when it comes to advertising your property. Whilst decreasing your advertising spend can be tempting when the market is not at its peak, investing in that little bit extra upfront can actually pay off in the long run. How? Quite simply, advertising increases the exposure of your property. More exposure means more buyers through the door, which drives competition and can ultimately result in a higher price for your home. So how can you gain more exposure for your property?
Online advertising dramatically increases the exposure of your property, as most people head straight to the internet when conducting their property search. This is because online property portals are perfect for engaging buyers and showing off your home, as it allows people to flick through floor plans and extensive photo galleries.
Property portals are the main touch point for buyers because they are instantly accessible. Your online advertisement is just a click away for property hunters who are scouring the internet for their dream home. In addition, the broad reach of online increases the exposure of your property to a variety of potential buyers. Investing in online advertising is not a question of if, but how much. For example, most online advertising portals now provide prestige or feature advertising options which means you can opt for your property to appear higher up or highlighted in advertising lists.
It is also worthwhile to consider the more traditional forms of advertising your property, such as in print. Your real estate agent will usually have their own magazine that features all the properties they have for sale, which can be another effective way of reaching buyers; for example, hockingstuart’s Red Magazine is read by 55,000 potential buyers weekly.
Don’t forget your agent
It’s also worth checking with your agent what other value-adds they can offer you. For example, what kind of reach does their website have? Do they have a database of buyers they could also send your property to?
The key to maximising demand and interest in your home is to reach as many of these buyers as possible – and that’s how advertising your property can help. Advertising draws attention to your property and remember, the more people you reach, the greater the demand and the greater sale price you can achieve.
This article has been supplied courtesy of Toby Parker, Director of hockingstuart Balwyn. Toby is one of hockingstuart’s top performing agents and youngest directors. Toby commenced his career in real estate almost 12 years ago and took over as director of hockingstuart Balwyn at 25 years old- making him one of real estate’s youngest success stories. Toby and his team’s success was recently recognised through the agency’s nomination as one of the Real Estate Institute Victoria’s ‘Medium Real Estate Agencies of the Year’.