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Selling Secrets

What is the purpose of advertising your property?

The purpose of advertising your property is to attract as many buyers as possible.

Without advertising, your property either won’t sell or will take longer to sell. How many products do you buy without some kind of advertising attached? Consider this – you walk into the supermarket to purchase cereal. One box is grey with ‘Cereal’ printed on the box. The other box is covered in the brand logo, a picture of the cereal and benefits to you if you eat it. Furthermore you also recall seeing it advertised somewhere. Which cereal will you buy?

What does advertising cost? Where is the best place to advertise?

Most properties are advertised on the internet and promoted on a number of various websites to maximise exposure. There are several websites your property can be promoted on, however the main websites are www.domain.com.au and www.realestate.com.au

All websites have fees associated with listing a property for sale. To advertise on the main website, all real estate agencies are required to pay a monthly subscription fee. There are four different advertisement levels ranging in cost from zero dollars through to nearly $4000 for a 30 day placement.

Below are examples of advertising costs for a $500,000 property on a 60 day agency agreement.

NOTE: the cost may be higher for very expensive properties and in some cases AUCTIONS can be expensive.

EXAMPLE 1: Top of the range
Photography stills up to$450
Photography video up to$950
For Sale sign around$350
Direct mail flyers around$250
Primary websites 1st month$4,000
Primary websites 2nd month$1,500
Other real estate websites$600
TOTAL$8,100

 

Your home will command a dominant position in your suburb and remain at the top of the page. Your photography will need to be top class and if you were going to commit to this type of advertising I would make sure that the salesperson you employ to handle the inquiry was at the top of their game.

NOTE: if you wanted to add local and state newspapers to this campaign, you would need to add another $2,000 to $3,000 to the total cost.

EXAMPLE 2: Middle of the range
Photography stills up to $400
For sale sign up to$250
Primary websites 1st month$1,500
Primary websites 2nd month$500
Other real estate websites$600
TOTAL$3,150

 

Placement for a majority of the first 30 days on the front page of your suburb on the internet. For the next 30 days most likely placement of your home would be on pages 2, 3 or 4. If your property price is reasonable, buyer interest in the property should be fairly consistent.

Once again ensure you select the right salesperson. Your money spent on advertising will be wasted if the salesperson isn’t at the top of their game. There would be nothing worse then having to go through the advertising process again with a different salesperson and agency. This could become a very expensive exercise if repeated a couple of times.

NOTE: if you wanted to add local and state newspapers to this campaign, you would need to add another $2,000 to $3,000 to the total cost.

EXAMPLE 3: Bottom of the range
Photography$150
For sale signFREE
Real estate websiteFREE
TOTAL$150

 

For this budget, your property will appear on pages 5 onwards on the internet. (Research indicates that most internet trawlers get sick of trawling after page 4 onwards). This will result in very few buyers seeing your property advertisement and therefore very few property inspections.

The question you would have to ask yourself: IS IT WORTH LISTING THE PROPERTY AT ALL?

Top of the range Auction Campaign Example
Photography including floor plans$650
Video premium quality$950
Auction Board$450
Primary website 1st month$4000
Primary website 2nd month if required $1500
State Newspaper up to$2000
Local Newspaper up to$1000
Flyers and Handouts$300
Other web sites $600
Auctioneer Fee up to $600
Searches and incidentals$300
TOTAL$12,350

 

The examples above are just that. There are many different types of marketing campaigns that an agent can create to suit your financial requirements and achieve the desired result of attracting buyers to the property. Most importantly selecting the best salesperson with marketing knowledge as opposed to advertising the property on the internet is critical in achieving the desired result of SOLD for a price that you will be happy with.