A large part of my book, Sell for More, was devoted to calculating the effectiveness of advertising. The statistics clearly demonstrated that a combination of media gave the best results. This is important because a common trend among agents is to assume that the internet is enough.
Of course many vendors don’t want to spend much (if any) money on advertising, so it’s easy for the agent to suggest simply using the web. They may get a result, but it probably will not be as good as it should be. In particular the vendor loses because there is not the best possible concentration of buyers at the one time.
It is well known that the key to successful selling is to create competition and a sense of urgency.
The way to do this is by reaching all the potentially interested customers at the same time. And this only happens with coordinated and effective marketing in all the media where buyers are likely to look.
Buyers come from many different places: internet, newspapers, signboards, DL cards, window display, other open-houses. Advertising in just one medium (however good) means that all the others are being ignored, and therefore there are fewer buyers.
It is your role as the agent to explain to your vendor how they can get the best price. And of course, the promotion won’t do your business any harm.
Note from the Editor:
- Assist your vendor to understand their property’s value in their current market, in a dynamic and consultative manner.
- Discuss local market conditions with your vendor while displaying integrated Listings and Sales.
- Present up to date, professional market statistics for your vendor’s district.
- Create your presentations in a matter of minutes for last-minute appointments.
- Email a summary report directly to the vendor straight from the app.