The number one goal for most real estate agents when it comes to marketing a property, is to engage buyers.
Better engagement will hopefully translate into more active bidders on auction day and improve the final result for your vendors.
To achieve that, agents need to ensure their marketing is tuned in to what buyers are looking for.
The better the marketing, the better the final sale price.
Here are four things that can help improve your marketing and boost your enquiry numbers along the way.
Define clear objectives and target audience
A really important part of any auction campaign is to determine exactly who you’re selling to and how you need to market that property to sell to that style of buyer.
Each location will appeal to a different type of buyer, and you need to be able to adapt the style of campaign you run, including the varying marketing tools you have at your disposal.
One example would be a property that might be more suited to investors rather than owner-occupiers.
If you’re in a market which is currently generating a huge amount of interest from overseas investors, it would be an ideal opportunity to take a different approach to marketing a home and put together a 3D tour of the property.
Overseas investors will be unlikely to visit the property in person, so a 3D tour will assist them in the buying process, and grab their attention, compared to properties that only offer photos.
Don’t give everything away too early
As mentioned, the role of the agent is to create as much engagement with potential buyers as you can, entice them to view the property and ultimately bid on auction day.
The first point in the process is often taking a phone call from a prospective buyer and talking to them about what they are looking for and how your listing might suit their needs.
These days, agents spend a lot of time and money hiring professionals to write the copy for their property descriptions, but it’s important that you don’t give everything away too early.
Buyers need to have a reason to contact the agent and if the description lists every single detail, then there is no need to talk to the agent.
You’ve also got to be able to show buyers what the property has to offer, not just tell them.
When you make that initial contact, you’re going to be better positioned to get them to come and see all the features for themselves.
Analyse and adapt
The great thing about how properties are marketed these days is that agents have access to a range of data on how the campaign is going.
Use that information to your advantage, and if you’re not getting the results you want or expect, understand that you can make a change.
A lot of agents will list their property on day one and nothing changes until auction day.
I always say that you should change the hero image after the first week.
That way you attract more eyes to the property and you will likely entice other potential buyers who might have already seen but forgotten about it.
The other important part of understanding the numbers is that if there is a problem, you can quickly adapt.
If you’ve got a property on the market, and there are two other units that are comparable to yours and they’re generating twice the number of inquiries, something’s wrong.
In that moment, you need to make a change.
I often say to agents that if it’s not working, it’s time to eat a bit of humble pie halfway through the campaign because it tastes a lot better early on than it does the day of the auction.
Book an auctioneer and a date
One of the most important parts of running a successful auction campaign is to actually book an auctioneer and an auction date.
Recently there have been a lot of properties that have been listed to sell at auction but with no date and no auctioneer.
One of the most powerful parts of the auction process is that it occurs on a certain date, and the buyers know that’s when the property is being sold.
The auction creates urgency when there is none, and that’s how you are able to achieve strong results for vendors.
If you aren’t locking in a date and working with an auctioneer, then you are missing one of the most important parts of the marketing campaign.
If you want to know how you can make your auction campaigns more effective, contact AuctionWORKS today to find out more.