Recently I listed 4 houses for auction. As I was going through the marketing budget for each property I noticed that more than half the cost was for newsprint advertising in the Property Press and New Zealand Herald.
The most difficult part of selling a house is stepping up to pay the cost of advertising. And yet…advertising works.
But what’s the most effective method of advertising? As a seller you want to make sure that the money you spend to sell you home is bringing lots of qualified buyers to see and (hopefully) buy.
A couple of weeks ago I ran an advertisement on the internet for a house I was selling. I had missed the print deadline so did two open homes with just internet advertising. And sold it. This is not the first time this has happened, a couple of years ago some people in London saw a house I was selling on the internet and bought it, sight unseen!
Many real estate commentators are saying print media is dead, or dying. So I am wondering, where do you look for a home when you are buying? Do you wait for the paper to be delivered? Or do you just log on to your favourite website and browse for a new home there?
As Ariel Levin says “Online, home buyers can usually find more images, property videos, floor plans and sometimes even download the LIM report and comprehensive information pack. They can aslo email the agent with any questions they may have.
They can visit Google Street View to have a look the street.
It’s engaging.”
In the United States 90% of buyers go to the Internet first. In New Zealand and Australia about 80% turn to the Internet first. While some real estate commentators in the United States are clear that newsprint advertising is dead, it still has a place in New Zealand. Slowly but surely, however, newsprint is dying. As the age of real estate buyers gets younger and younger, more and more buyers will turn to the internet.
Many traditional real estate agents are still stuck in a paradigm that is dying. Asking sellers for huge budgets to spend on newsprint advertising that less and less people are reading makes no sense. Some of these agents will survive, most will retire, some will go broke.
Some progressive real estate agents have and will continue to adapt every day uncovering new ways to use the Internet in their profession. Over the next 8 weeks I’ll bring the best of these ideas to you.
In the meantime, when you call me to sell your house, ask me how to promote your home on the internet. We’ll put advertising emphasis on where buyers are looking on line, backed up by clever newsprint advertising.
This is the first in a series on the essentials for getting your North Shore home sold using the Internet. We’ll be challenging the idea that you have to spend a lot of money using print advertising to get your home sold. Want to be kept up to date? Click on this link and we’ll send you a regular email on the Essentials for getting your North Shore home sold using the Internet.
Read a related article about How get rid of paper advertising and become an Eco Friendly Real Estate Agent / Realtor and Reduce Your Business Carbon Footprint
http://unconditional.co.nz/ariel-listens/2010/05/24/how-to-become-an-eco-friendly-real-estate-agent-realtor-and-reduce-your-business-carbon-footprint/
[…] Tony White There was a little controversy stirred up by my recent blog on whether Newspaper Advertising is a Dead Duck, well Nielsen Online reports that in 2009 traffic to real estate websites increased by 40-50%. The […]
hi there
im emailing for a friend hes looking for a builder to build him a house worth $300.000 or 2 houses worth $150.000 each and wants to swap 17 hectres of land for the house or houses
land was valued last month at $300.000 and has power and phone to house site
its up far north area just south of Kaitaia more to the east coast but not far from the west coasts as well
if you know anyone or are interested please email Tony
Thanks Peter
I would suggest that print advertising has become more of a branding exercise for companies, its a way to build brand equity and recognition. Most serious buyers will search online as they want to ensure they have seen every available property before making such a major financial committment.
Hi Tony, some valid points you make regarding the decline of print advertising. We still do see a number of people come through our open homes via the Property Press, and our other offline lead generation methods. The difficulty is, where did they see the advertising 1st? There is crossover with online advertising and offline advertising and vice-versa. One thing is certain with the internet – Agents will be able to deliver measurable results to their clients.
Would you please put my e mail on your mailing list as I am planing to buy an ivestment house in the near future
thanks
Nagy