You may have had the experience where a large number of people attend an open home, yet none of them appear to be a strong buying prospect for the property.
The numbers are strong but the selling prospects are low.
There may be a number of reasons for this, one of which could be the targeting in your property marketing.
Consider how these prospects found out the property was for sale. In all likelihood, they saw it on one of the major real estate portals. But how targeted are these prospects?
They arrived at the real estate portal and selected a geographical location, possibly filtered on the number of bedrooms and bathrooms, possibly on a price, and then they clicked search.
Now, let’s consider what makes up a strong buying candidate
- Can they afford the property?
- What sort of income would you expect the buyer to have?
- Where is the buyer likely to be living now?
- Are strong buyers likely to be local?
- Are strong buyers likely to be from interstate?
- Are strong buyers likely to be from overseas?
- How old is a strong buyer likely to be?
- Is a strong buyer for this property likely to be married, single, partnered, a family?
- What sorts of things interest your perfect buyer?
- How does your perfect buyer spend their spare time?
- Is a strong buyer likely to be working in a specific type of job or industry?
This basic profiling of your ideal buyers allows you to assess the strength of people coming through the door at your open homes. It tells you where and how to spend your efforts in nurturing those people to sale.
Unfortunately, people that come through real estate portals are totally un-targeted.
At best, you know their motive hinges on searching for a property.
Whether that person is really a solid candidate for buying your property is pure luck.
Adding a little more science to your marketing will increase your chances of achieving top results for your vendor.
Using Facebook advertising, you can specifically target prospects that meet your buyer profile. That is, your vendor can pay for advertising that drives targeted and ideal potential buyers to their real estate listing.
This increases the probability that sales enquiries and foot traffic to your open homes are from more qualified buyers.
A typical Facebook ad campaign will serve up tens of thousands of ad impressions and get hundreds of click throughs to your real estate listing.
To get the best results, you will need to get your vendor on-board as soon as they sign on the dotted line with you.
You don’t want to wait until your listing is stale to use Facebook advertising. By that stage, the marketing budget is drying up, and we’re back at my earlier point about the ineffectiveness of a small and unsustained effort on this channel.
Remember, this is all about achieving the best possible sales results for them – the best price, in the best time frame.
It needn’t cost the world but it does make a hard-to-argue-with alternative to premium listings on the leading real estate portals.