Why Your Real Estate Agent Needs To Know Online Marketing
Want to know how property sellers lose large amounts of money when selling their property online?
Well I’ll reveal how buyer agents pick up the scent of vulnerable prey/sellers and sniff out a good property deal. I will also let you in on how sellers send out the smoke signals saying “take advantage of me” unknowingly, thinking they are saving money.
How to lose money when selling your property (how buyer agents pick up a good deal)
Nicole Marsh from Eureka Property Buyers Agents said to me “One of the strategies we employ is to try and source owners who are marketing their properties themselves, be it through DIY websites etc”. Nicole went on to explain “We have access to past sales history, we can ascertain how that property sits in the market by comparison to others and target those owners”.
DIY photography and marketing
Professional photography really makes a difference in your enquire levels and buyers agents know this, so when the photography is not to a professional standard you’re a big target. Buyer’s agents will watch that all unfold until your property has sat on the market long enough and dropped in price due to bad marketing and low enquiry.
Now if you’re not an ex-professional photographer I recommend you hire someone that specialises in real estate photography.
Not many agents are trained in photography-let alone real estate photography and photoshop for that matter. See below some examples of bad agents around the Seven Hills area;
This one is just bad. All of the photos are heavily pixelated but at least the agent had filled out all of the information.
This one is much worse. Firstly, the agent has chosen a bad angle to photograph from and has not even used basic HDR photography. The funny thing is he doesn’t even know how to upload his own profile picture to realestate.com. If he can’t do that how can you trust him to sell your house?
WHAT THE?? HOW CAN THIS GUY BE IN BUSINESS?
This agent below can clearly do nothing right…! I can’t believe this is our competition! This is an agent from Burwood trying to sell in our area of Seven Hills. I contacted the agent and he did not speak any English. I bet he is a 1% Commission real estate agent.
1% Commission real estate agents take advantage of your money saving mentality!
We call these agents commission cutters. Agents such as these are of the opinion that quality advertising is unnecessary and that “anyone can sell in this market! Why pay for more quality online ads and photos?”.
By this stage, if you believe this sales pitch you’re probably thinking why pay for a quality real estate agent? Or “I might as well sell it myself!”.
Well you can try to save money this way initially however it can actually end up costing you a lot of time and more money. I’ve looked into it and there are services out their calling themselves “agent assisted sales” where you can list your home on realestate.com.au for $440 to $599 (domain.com.au is extra). This does not include getting you on the first page (which is very important) and a real estate agent negotiating up buyers for you.
If you want to know what real estate agents get paid for, click here. What Do Real Estate Agents Really Do For Their Money?
2 Keys that will make you money when selling.
- Getting you on the first page of realestate.com.au and Google (cheaper than a “agent assisted sales service”)
- Negotiating buyers up to a price you are happy with.
Real estate agents & property sellers should know about online marketing
Charlie Gunningham is the former manager of reiwa.com. He has contributed more to real estate online marketing than anyone else and here is his insights;
- The web gives agents 90% or more of their total leads
- While some agents have shifted more and more marketing towards the ‘Net, there is still much more to be done with old habits, and lots of marketing dollars wasted every year. Most real estate agents only spend 30 per cent of their budget online.
- Charlie calculated that $1bn of advertising dollars by real estate agents was pretty much wasted on non-productive areas.
- Newspaper advertising will decline further over the next 5 years; and the web, social media/apps will take over.
Here is an example of how print advertising is shrinking in real estate.
I can’t remember the last time we ever got a buyer lead directly from print advertising.
- The real estate that are making the most headway are advertising (of course) on all the major real estate web sites, have a good agency site, are using a bit of social media (a blog on their own site, a facebook community page, a twitter account, maybe using foursquare or Instagram).
- Yes, they do some offline stuff too, and that complements things (but remember where 90% of their leads and enquiries are coming from).
- Video is becoming more important as the NBN is rolled out increasing our internet speeds, and they will be able to handle more video streaming.
Now what does this mean for sellers selecting a real estate agent?
This makes the real estate agent that is marketing online the hardest will be in the best spot to get the highest number of buyers and sellers in the area. In turn they will be able to contact their entire following when advertising your property.
Here’s an example
Social networks can also serve as a venue for enhancing your property listings with high quality photos and comments as well as a real-time way to interact with potential customers who may have questions.
Let’s say a potential customer leaves a comment on your agents Facebook wall looking for a particular type of home. He/she can respond with links to listings that match what they’re searching for, making it easy for them to find what you have to offer.
This is just one example that proves why real estate agents need tools like Facebook to build an online presence. This can increase their potential for more customers while enhancing their business in a real way.
Social media is yet another way for successful agents to provide local and geographically specific tips about the neighborhood, community and cities they live in.
Smart real estate professionals know how to effectively use social media following and get them to their website or blog to generate buzz about their property listings.
YouTube presence is the key in this, with thousands of videos leading to hundreds of thousands of views that in turn have the potential to convert viewers into homebuyers.
In a recent article real estate agents clam video in their listings get around 400% more enquiries. We have found this to be true but it will need to be a professional video with some personality.
While the majority of real estate agents will have honed their skills offline, building a social media presence can lead to more prospective clients finding you and either listing their home with your agency or purchasing a home you represent.
Successful agents know how to use social media to open lines of communication and create a new level of accessibility. Gone are the days of sitting by the phone, waiting for potential clients to call. They are now accessing profiles and other important data on the web long before ever picking up the phone. Giving them easy access to you and your business is vital.
Now I could go on about how agents are spamming people on Twitter or Facebook with their listings. That’s like walking up to random people in the supermarket and shouting at them “do you wanna buy this house?!!!!” It may sometimes be annoying yet its effective.
What a good online marketing agent will offer you
With Gen Ys rising to be one of the biggest groups buying homes these days, agent need to start marketing to them the way they like it.
A real estate agent that understands online marketing will know this and have strategies that will target these Gen Y buyers.
When you interview an agent to sell your property ask them how would they would advertise your property on Facebook? If the answer is;
- “aaarrrr…. I don’t do that Facebook thing” DON’T hire them!
- “We can post it online” Ask them what there approximate reach is. If the answer is around 100 they are wasting their time.
- “We can create a Facebook ad get you over 1,000 extra eyeballs looking at your property, on top of all the other online marketing we will do for you” Bingo you have just found an agent that gets it.
Here is some more information on how-to find real estate agent that understands online marketing. Click here, How to spot a property selling bat woman.
We apply these same SEO principles (our secret sauce) to our real estate agency which keeps us the dominating agent in our area and assets us in selling our properties for more than our competitors. Click here for seven hills property case study.
If you are looking for a real estate agency that “gets” online marketing and understands how to market to Gen Ys, give us a call and we will show you so many cutting edge ways to market your property it will blow your mind. These strategies normally generate an extra 5,000 buyers to look at your property, that your average agent would miss and wouldn’t even have a clue where to start. This in turn helps you maximise your final selling price.
About Jhai Mitchell
Jhai is an award winning Internet Marketing Real Estate Agent for Elders Toongabbie and Kings Langley. After running his own internet marketing business he has now set his own sites for the real estate industry. He observed that 90% of real estate agents did not know how to market themselves online. Jhai is now fixed on one goal. To teach real estate agents that they can market online so much better than they currently are.
Since then he has been consistently quoted in the Sydney Morning Herald and Real Estate Business online. He is a regular guest blogger on TheHomePage.com.au, sharing his expertise of marketing aspects for the Real Estate Industry. His biggest passions are his wife, martial arts, dogs and most of all property.