With 9 out of 10 home buyers searching for homes online, any seller wanting to get top dollar for their home needs to market their home online. That means your agents should have an aggressive property marketing plan that uses the most innovative digital marketing strategies, technologies, and methods.
A property marketing plan is a tool real estate professionals use to determine the exact measures they will take to market your home to potential buyers.
As a prospective home seller, you’ll want to ensure the agent or brokerage you work with has a documented property marketing plan designed to get you results. In this article, we’ll cover the 5 elements of an effective property marketing plan so you know what to look for when looking for a real estate agent!
You only have one chance to make a first impression with prospective home buyers. Many agents and brokerages stumble on this crucial step and cost their sellers real money when buyers don’t value the home enough to make solid offers.
So how can you avoid this misstep? Much of the property marketing plan rests on the consumer’s ability to find your property online… and to find it with the right information. This is why effective marketing plans have “Pre-Launch” activities designed to seed the marketplace, optimize for SEO, and position the property for the best possible impression right out of the gate.
The Campaign Sequence builds on the Pre Launch phase by “announcing” the property’s availability through a combination of online and offline channels. By using online marketing to connect with consumers and offline marketing to connect with real estate agents, your property gets the necessary exposure to prospective buyers.
With the rapid changes in technology, every property marketing plan should specify which marketing technologies and platforms it makes use of. Search, Pay-Per-Click, Email, Mobile and Social are just some of the potential platforms a property marketing campaign can include.
A well designed property marketing plan has a constant ebb and flow of marketing activities that start and end simultaneously. This produces a steady stream of online and offline interest while ongoing promotion ensures your property is getting in front of both consumers and to the agents representing those consumers.
Throughout the campaign cycle, it’s important that your agent checks the data and evaluates whether the message and images are getting the impressions and Click Through Rates (CTR) within the desirable ranges. If they aren’t, they should try adjusting to marketing before falling back on other options.
If there is insufficient interest in your property (lack of traffic & showings or negative feedback on the value from people who toured the property), then a price reduction is most likely in order. Research and listen to feedback from the market to get guidance on the price. Once a new price has been determined, the marketing campaign will be updated and a re-launch will take place.
As a home seller, it’s in your best interest to vet agents and brokers to ensure they have the knowledge and skills to market and sell your property to prospective buyers. Asking your real estate professional about their property marketing plan is a good way to assess whether they will take the necessary actions to get the result you want.