In this post, Martha MacLaurin-Wood and Belinda discuss what good agents are doing differently with changes in auctions and private treaty processes.
One thing COVID-19 has taught us is how important it is to be up to date with your technology, your systems and your procedures. The biggest cost from a marketing perspective for vendors is the Internet. Home preparation is a little bit different, but just as critical is with any property on the market to sell it must be presented well as it is on show to the world! Realestate.com and domain.com.au are the two biggest real estate portals right now in the country and because we are in these uncertain times, both of these portals are encouraging vendors to put their properties on the market for sale by offering vendors a risk free chance to sell. That means if you’re advertising on their portals and your home doesn’t sell for whatever reason, you can take it off the market, and at a later date, put it back on the market with the same or a different agent without having to pay for that internet advertising again. I think it is really reassuring that you’re not just throwing your money away in the end, hoping for the best. You’ve got some sort of guarantee there that you can try again another time if it doesn’t work for you right now.
That’s a senior player in this whole process of selling your property, backing you up. They are putting their confidence behind their system and backing themselves and creating a safer environment. They’re reassuring vendors that if it doesn’t work, they’re here to support you to try again another time.
What are the other things the agents are doing around technology?
Agents are doing a lot of work right now on social media. We’re using Instagram, Facebook, sometimes LinkedIn. I’ve even seen some real estate agents on Tik Tok. For the most part, what we do as agents is we send all of our listings up online to various communities – Facebook pages and Instagram sites. Just as a way of cross pollinating the database. Because if somebody has come through your property or seeing your property on realestate.com.au, and then they’re later looking at their Facebook page and they see your house again, it’s another reason for them to think, oh, maybe I should take the time now to have a look at it. We do that through some paid posts, some unpaid posts. We encourage our vendors if they have Facebook pages to share it with their friends and family. The other thing that that you can do is (and that’s part of the domain and real estate website portal) use a number of different emails to send out to the database, or what they call remarketing programs. We’re using the algorithms for people that have been on their site and suggesting houses to them.
When they’re looking at the Sydney Morning Herald for instance, an ad will pop up and it potentially could have your home in it. It’s what they call ‘Reveals’ on the internet. But probably the biggest thing for real estate agents is once again, the database, our database of buyers, knowing who’s in it, what their spending limits are and what they’re looking for. So we can build that emotional link to your home and get the right people there.
All this activity on the web just stems back to how important it is to have that presentation right, because you’re marketing a product. It’s a new product going on the market, and it needs to look fantastic – It’s an advertising campaign. What good agents do is make strategic moves during a campaign and make small adjustments. I certainly rotate the images of a property throughout the campaign. So week one, it might be the kitchen shot because that’s the most clicked on image online. I might change it to a backyard shot because right now people are thinking about lifestyle, they imagine what it’s going to be like to live there, and then you follow it up potentially people want to know what working from home would be like, so maybe the home office is something that is attractive to my buyers. I can rotate those images around and have a look at the statistics of the number of clicks that I get based on that week that change. That strategy is all reported back along with price feedback, comments to my vendors and presented in a weekly report. I need to keep everyone informed, so everybody’s on the same page and we can make the changes and adjustments in a timely fashion to keep the property fresh and exciting on the market.
Today’s blog is a nugget from last week’s Right Size Your Home Online Workshop. Every Friday at 10:00am, join me as I take you through the “Rightsize Your Home” framework to help and support you move through the process effectively and efficiently with a practical, step-by-step roadmap on how to overcome the fears and challenges of Rightsizing and plan to make the journey a fun, stress-free and profitable process..
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