Comments on: What does the future look like for real estate agents? http://unconditional.co.nz/northwellington/2012/10/26/what-does-the-future-look-like-for-real-estate-agents/ News and views from New Zealand's Harbour Capital Thu, 01 Nov 2012 23:42:19 +0000 hourly 1 http://wordpress.org/?v=3.4.1 By: David Garratt http://unconditional.co.nz/northwellington/2012/10/26/what-does-the-future-look-like-for-real-estate-agents/comment-page-1/#comment-3098 David Garratt Thu, 01 Nov 2012 23:42:19 +0000 http://unconditional.co.nz/northwellington/?p=730#comment-3098 HI Cam, thanks for your comments. Yes there is still a place for print media but it is diminishing over time. When it comes to targeting advertising dollars most efficiently, I apply a very general rule - if the target market is over 40 yrs old then print media such as the property press still reaches those buyers. If the target market is under 40 then money is best put into online marketing. eg if I have a little two bedroom unit on the flat close to shops, my target audience is probably retired or retiring couples or singles and I'd push a bit of money towards local paper advertising and possibly the property press. If the property I'm selling is a central city apartment - I would use web only advertising. Tailoring your marketing is much more effective than giving no thought to your end market and just doing a bit of everything. I think we'll see a more and more accurate targeting of buyers over time using online adverts such as google and facebook ads and email database mailouts as opposed to the blanket approach of print and website advertising. HI Cam,
thanks for your comments.
Yes there is still a place for print media but it is diminishing over time.
When it comes to targeting advertising dollars most efficiently, I apply a very general rule – if the target market is over 40 yrs old then print media such as the property press still reaches those buyers. If the target market is under 40 then money is best put into online marketing.
eg if I have a little two bedroom unit on the flat close to shops, my target audience is probably retired or retiring couples or singles and I’d push a bit of money towards local paper advertising and possibly the property press. If the property I’m selling is a central city apartment – I would use web only advertising. Tailoring your marketing is much more effective than giving no thought to your end market and just doing a bit of everything.

I think we’ll see a more and more accurate targeting of buyers over time using online adverts such as google and facebook ads and email database mailouts as opposed to the blanket approach of print and website advertising.

]]> By: Cam http://unconditional.co.nz/northwellington/2012/10/26/what-does-the-future-look-like-for-real-estate-agents/comment-page-1/#comment-3096 Cam Thu, 01 Nov 2012 22:40:53 +0000 http://unconditional.co.nz/northwellington/?p=730#comment-3096 Hi Dave, I have one question for you.. Do you believe there truly is NO place for print media in today's real estate marketing world? I will enlighten you with my thoughts first :). As a salesperson, I frequently use the biggest and best print media spots available - front and back covers of the Wellington Property Press, and full page advertisements in our Upper Hutt Newspaper (The Leader) which is distributed to every home in the area. Combined with tools such as TradeMe's 'Super Feature' listing, RealEstate's campaigns etc, I know that I achieve far better results than those who just use small print media adverts, or none at all, especially when selling a property in my area which would not usually attract purchasers from Wellington etc. I always ask the question 'where did you first see this property advertised?' and when those big campaigns are in place, the answer is most commonly 'on the property press' or 'in The Leader'. I agree that any really serious buyer who is looking to buy a property right now will be searching the internet every day for new listings, but what about the causal buyer who looks every now and then, if you've got a stunning property which they fall in love with and buy, without looking at everything else on the market/internet etc, you're undoubtedly going to fetch a better price than from someone who has seen damn near everything else on the market and is completely in tune with what similar properties are selling for. Finally, when those big print media campaigns, such as a full page in our Upper Hutt Leader, front cover of the property press etc all in the first week are in place, they easily double and triple the numbers at a first open home. Now I know for a fact that the majority of those extra people are just tyre kickers, nosey neighbours, and people who just came because it looked like a nice place and they could get some ideas for theirs, but surely these extras cause those serious buyers who like it and are in a position to buy, to feel that 'fear of loss' and sense of urgency to make an offer and make it a good one. I don't believe in spending $2000-3000 spreading little 1/8th page adverts over 8 weeks in a couple of different publications, but spending the same in the first week on some big 'in your face/can't miss them' spots - I have, and will continue to encourage vendors to do this, and put my money where my mouth is by using the same tools when selling my own properties. FYI, I am not a dinosaur, I am a 22 year old, three years into my selling and property development career. Sorry I went off on a bit of a tangent there, but to ask the question again, do you believe print media has NO place in real estate marketing? Cam Hi Dave,

I have one question for you..

Do you believe there truly is NO place for print media in today’s real estate marketing world?

I will enlighten you with my thoughts first :) .

As a salesperson, I frequently use the biggest and best print media spots available – front and back covers of the Wellington Property Press, and full page advertisements in our Upper Hutt Newspaper (The Leader) which is distributed to every home in the area. Combined with tools such as TradeMe’s ‘Super Feature’ listing, RealEstate’s campaigns etc, I know that I achieve far better results than those who just use small print media adverts, or none at all, especially when selling a property in my area which would not usually attract purchasers from Wellington etc. I always ask the question ‘where did you first see this property advertised?’ and when those big campaigns are in place, the answer is most commonly ‘on the property press’ or ‘in The Leader’.

I agree that any really serious buyer who is looking to buy a property right now will be searching the internet every day for new listings, but what about the causal buyer who looks every now and then, if you’ve got a stunning property which they fall in love with and buy, without looking at everything else on the market/internet etc, you’re undoubtedly going to fetch a better price than from someone who has seen damn near everything else on the market and is completely in tune with what similar properties are selling for.

Finally, when those big print media campaigns, such as a full page in our Upper Hutt Leader, front cover of the property press etc all in the first week are in place, they easily double and triple the numbers at a first open home. Now I know for a fact that the majority of those extra people are just tyre kickers, nosey neighbours, and people who just came because it looked like a nice place and they could get some ideas for theirs, but surely these extras cause those serious buyers who like it and are in a position to buy, to feel that ‘fear of loss’ and sense of urgency to make an offer and make it a good one.

I don’t believe in spending $2000-3000 spreading little 1/8th page adverts over 8 weeks in a couple of different publications, but spending the same in the first week on some big ‘in your face/can’t miss them’ spots – I have, and will continue to encourage vendors to do this, and put my money where my mouth is by using the same tools when selling my own properties.

FYI, I am not a dinosaur, I am a 22 year old, three years into my selling and property development career.

Sorry I went off on a bit of a tangent there, but to ask the question again, do you believe print media has NO place in real estate marketing?

Cam

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