Win That Listing Over Commission Cutters
A good real estate agent can influence the outcome of a sale and sell it for a premium.
However, we know that it’s a challenge for some agents to keep their fees at a fair level to reflect the value they bring.
So, how can you avoid falling into this ‘commodity dungeon’, keeping your fees up while still winning listings against agents who are slashing theirs?
The property industry has evolved in two major ways that have influenced public perception of the
- The introduction of online property valuation tools, which use an algorithm to estimate the value of a property, has in part diluted this role for agents. The reality is, algorithms have obvious limitations and there is no replacing the pricing expertise of a knowledgeable agent who knows their market and the nuances of each property.
- The reliance on real estate portals has influenced the perception that full fees are unjustified because many buyer enquiries come from portals. This is not the case for the marketing savvy agent who realises the importance of a holistic marketing campaign to attract the best possible outcome.
How do I show my client that I’m worth my full fee?
The best agents think like a marketing agency. They realise a major part of the value they bring is offering a bespoke marketing strategy. The strategy needs to consider all marketing channels and the message they are looking to portray.
Here are a few examples of marketing channels that Stuff sees as being underutilised/undervalued and that deliver high impact:
Example One: Sponsored Content
Think of the story and the best angle as if you are a PR company, then distribute this story in printed publications, news websites, email campaigns, and social media platforms.
Tip: Content marketing adds depth and for those special listings this channel can really elevate the campaign and drive results
Example Two: Extend your video distribution
Create your video content and distribute it to a larger audience through news site video pre-rolls, natively in the newsfeed, real estate portals and social platforms.
Tip: A lot of agents have amazing videos that barely anyone is viewing – extend your reach with Stuff’s huge premium platform.
Example Three: Remember the marketing funnel
Be aware that buyers consume in different ways, and are also at different stages of the buying cycle from active to passive. Be conscious of including print, portals, native, cost per click and premium curated sites to leave no stone unturned.
Tip: Don’t let any personal bias limit your properties exposure, it’s not how you consume information, it’s how the market does.
Example Four: Brand-Safe Environment
All channels are not created equal. Marketing property via a premium website which has curated content and trusted data can deliver better bang for your buck than usual media that relies on less robust data and is not considered a safe environment.
Blow your vendors away at listing presentations by thinking like a marketing agency and you’ll be winning every listing at full fees! It’s a win-win outcome and helps the vendor decipher the best agent from the cheapest agent.
Stuff has a dedicated and experienced real estate team who are experts in the art of marketing property. We are here to help you and look forward to collaborating with you on your next listing strategy!