VPA - SIZE DOES MATTER!
It is no secret that the most successful agents always have the best vendor paid advertising marketing campaigns. It seems you see their expansive print ads, huge online feature ads and larger than life signboards everywhere. Why does the industry put such emphasis on the vendor paid campaign? Does it work and does size really matter?
Of course it does.
A serious marketing campaign is demonstrative of a serious seller. If you are able to get a vendor to agree to fund the marketing campaign that splashes the property across a range of marketing mediums then you can be fairly certain they want the property sold and that you are going to reach the largest audience of buyers in the process. By getting a financial commitment from the seller, you are able to really view their level of motivation to sell. Agencies offering free marketing and no upfront fees are going to encounter many sellers that are just testing the market and not actually all that motivated to sell and are often just promoting the property on a restricted number of mediums generating no real competition for the property.
When a successful agent goes to pitch a marketing campaign to a seller, they are going in with all guns blazing. They are not taking the cheapest possible option and hoping they can upsell, they are going in with confidence to get the biggest and best campaign for a number of reasons. Not only is it a commitment from the seller but it is also great for boosting profile. I couldn't even count how many phone calls I've received from sellers asking for a particular agent, purely because they 'see them everywhere'. This is a direct result of effective vendor paid marketing which not only creates competition for the property but also serves as an impressive profiling tool.
So how do they do it? It is simple. They know the product, they believe in the results and they ask the question. It is going to be difficult to go in to a presentation and confidently sell to a vendor why they should spend the extra money on a premier listing if you don't know that it refreshes back to the top every 15 days, it appears larger than any other advertisement on realestate.com.au, it appears in surrounding suburb lists and that the site alone has a monthly audience of 5.8 million. Simple statistics that can demonstrate 'why' they need to spend the money on marketing. Understanding the features and benefits of each vendor paid product is a great starting point if you do not have a series of case studies to draw information or success stories from.
Marketing works. It is that simple. If you have a property and you present it to the marketplace across a range of mediums, you can be certain you are 'casting the net' as far as possible, to catch as many potential buyers as possible. The number of buyers and the urgency you create will result in competition for the property, ultimately driving the price upward. Don't make the mistake of pitching the basics and sitting on the sidelines while the top agents profile is growing with each and every double page spread they sell. Take the time to learn the products, understand what they are going to do for the seller and go in with confidence and demonstrate to them why they need to invest in the sale of their home. Grow your profile and achieve better results by having confidence in marketing.