The Real Value Of Property Marketingposted on 28 November 2013
How to educate your client about the real dollar value of a professional property marketing campaign.
Ask any business leader in any sales-orientated industry around the world, and they’ll likely tell you that effective marketing is a core component of sales success.
You can invest in the highest quality product, the most experienced people and the highest standards of customer service, but without the ability to effectively communicate your existence to the relevant market, your shelves will stay full and cash register empty.
Yet real estate agents in Australia consistently come up against strong client objections when seeking even the smallest budget to properly advertise and market a property with important tools such professional real estate photography, virtual property tours, interactive floor plans and real estate listings that get attention.
Convincing your clients to loosen their purse strings essentially comes down to a conversation about expense versus investment.
When you reveal your dream marketing campaign – and its price tag – to your client, they’ll immediately perceive it as an expense. They’re desperately trying to squeeze every last cent of potential profit out of their property for sale, and your cutting-edge real estate marketing campaign simply looks like a hefty bite out of their fiercely protected bottom line.
But that’s a major mistake, and forfeiting a professional property marketing campaign will cost, not save, your client big dollars.
Real estate marketing is an investment, and must be communicated to your client in that way. Research shows that an effective property marketing campaign can increase the final sale price of a home by between two and five per cent by appealing to a wider market and generating competitive interest in the property via professional property photography, real estate videos, property listing websites, and a range of other real estate marketing tools.
Let’s put that into real terms. If your client is selling their home for $500,000, a professional real estate marketing and advertising campaign could add as much as $25,000 to the asking price.
So by refusing to fund your well-planned property marketing campaign, your client could be waving goodbye to a hefty profit in order to save a much smaller amount in the short term.
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