In an industry driven by competition, where first impressions are everything, it’s no secret that digital presence is the key to sealing the deal – or being ignored.
Real estate marketing has continued to grow and evolve with big platforms realestate.com.au (REA) and Domain right at the helm. But while advertising with these key players is becoming increasingly crucial to reaching potential buyers and renters, the price tag on listing your home with them can certainly break the bank.
So what’s the breakdown?
In Australia, home sellers pay their own advertising costs. These are typically charged to the agent then passed onto the vendor, and in most cases cover the creation of a floorplan, copywriting, professional photography and/or videography – and purchasing a space on realestate.com.au or Domain to ‘house’ all of this in an online listing.
Depending on the paid package, that listing will then be boosted on different social media platforms or search engines, and potentially accompanied by print advertising collateral.
For real estate agents and sellers, it’s becoming increasingly advantageous to weigh up the benefits of these different tools together – and to sift through the non-essential ones – in order to reach the largest pool of buyers on a given budget.
Is it worth it?
“Given its market-leading reach, REA has become almost obligatory for consumers advertising their homes online.”
In a public sale campaign, the bottom line is that skipping the big portals could be hiding your property under a rock. Domain and REA require vendors to use a licenced real estate agent to act on their behalf – and while engaging an agent to sell your home comes at a price, to do without requires a knowledge of legislation, how to complete a contract of sale, and a skillset in leveraging digital marketing to maximise the final sale price.
Is there an alternative?
For sellers who want to avoid the online wheeling and dealing, selling off-market may be the more attractive option. While it’s important to note that a good real estate agent will handle the digital side from start to finish, many sellers still opt to sell off-market – that is, to sell their home without publicly advertising it.
This type of sale relies on the database of qualified buyers and industry contacts of the agent, and can serve the benefit of reduced marketing costs and greater privacy for the buyer – alternatively, a public campaign will better your odds of attracting multiple offers and bidding wars by showcasing your property to a broader market.
Whichever option you’re considering, our experienced team is here to help!
Prudential Real Estate Macquarie Fields | (02) 9605 5333 | macquariefields@prudential.com.au
Prudential Real Estate Narellan | (02) 4624 4400 | narellan@prudential.com.au
