While it may seem complex, deciding how much to spend on online advertising when selling a property comes down to some basic principles – being strategic, extending reach and maximising audience.
Damien Brooks, State Sales Manager for Victoria at REA Group, explains.
“Given every market and every property in Australia is different, it’s impossible to put a figure on how much a vendor should spend on online advertising, but there are some guiding philosophies all sellers can follow.
“The more you spend, and in the right way, the greater the exposure, which translates into eyeballs on your property. Having more people interested in your property creates competition, which can drive the sale price up, and lead to a quick sale,” Brooks says.
Realestate.com.au – which has six million visitors per month – has a number of distinct advertising options, such as Premiere, Highlight, Feature and Standard property listings, to showcase properties for sale, he says.
“All of these listing features have their own attributes and we also have a new feature, Front Page, which allows a single listing to “own” its suburb search page, which can really help you stand out from the crowd,” Brooks says.
Should I pay for advertising or will my real estate agent pay for me?
Working out how to much spend comes down to identifying what will be cost effective, based on data, and total spend, he says.
As well as active buyers – those keenly searching realestate.com.au – vendors should also consider passive buyers, as well as international buyers, when budgeting, Brooks says.
“It’s now possible to extend your reach beyond realestate.com.au itself, with our Audience Maximiser product, which is a sophisticated targeting system based on behavioural data. It presents your ad to house hunters after they have left realestate.com.au,” he says.
“It delivers your listing straight to people who have searched for similar properties, on some of the world’s largest websites – everything from Facebook to eBay, Outlook to seek.com.au and many others. Through our extensive network of media partners, your property will get exposure across thousands of leading websites,” he says.
Ads can also be targeted to reach international buyers, Brooks adds.
Whether a real estate agent asks for a vendor to pay for online marketing upfront or after the sale of a property, vendors should educate themselves about the advertising options available, Brooks says.