Daily Archives: November 28, 2009

Expectations in Real Estate Advertising

A Pavlova is one of a Kiwi’s favourite things remembered from Summers past.

However ask the person who cooked it ….. “did it turn out exactly like the photo in the recipe book?”

Kiwis and Aussies will know the answer without thinking.

PHOTO CREDIT – Wikipedia

And did the fact that it didn’t turn out like the one in the photo………did that make it taste any different?

I’d have to say Real Estate advertising is different.

Real Estate licensees/agents are constantly challenged to correctly illustrate a property to someone who has not yet seen it, or who might not even be familiar with the town the residence is in.

To that end photography matters most, then advertising copy in the form of a description follow, and needs to be related, relevant and accurate to the photography.

Forrest said “Life is like a box of chocolates……” and in many cases Real Estate photography / descriptive copy is similar.

Yes it did say three bedrooms, but it didn’t mention, 1 was double, 1 was small, and 1 was tiny. Three bedrooms perhaps, but the overall expectation was a letdown in reality.

I’m sure you’ve heard many examples from friends or family who have seen/read something relating to property, then when they have made the trip out to the Open Home……..have experienced a similar “letdown.”

In some ways for an agent it’s like walking on thin ice, but they have to get it right.

On the one hand an agent needs to ensure that their client is happy, if not ecstatic with the advertising copy and photos. Even then you’ll still find some suggesting to you…. “but you could fit a ….in there” or wouldn’t that be a better angle…..or you missed “such & such” out. Likewise I am sure most everyone in the industry has had the “but it’s really only a study, I can’t call it a bedroom” conversation at some time in their career.

And on the other hand, buyers are looking for even more increased accuracy in Real Estate advertising, calling for more accurate well lit photography and better (read more accurate) descriptive text.

A Real Estate purchaser today has already been primed to have preconceived perceptions of advertised properties. These are gained from vivid past media reports, or experiences of family and friends.

For example if your saw the word “seaviews” in an advert, what immediately springs to mind? There you go. Based on past experience, you were more than likely thinking …..…Yeah right……..see-views or glimpses of the sea.

So, more than ever, today buyers really want to arrive at an advertised property and think/say………

…….wow this is better than I expected………..OR

…….while viewing at the Open Home ………”this is neat – didn’t look this good in the add / didn’t say anything about this in the add” ……………OR

……this does have a lot extra than other homes in this price range, etc, etc.

Reminds me of movie trailers on most DVD’s – after watching them you’ve probably seen all the best parts. Then in many cases the actual movie doesn’t live up to the trailer’s previews?

I believe that in advertising a property you need to hold back a surprise. And don’t forget, holding back could be conducted via the photography too. It’ll require a forward thinking view from the client as well.

The amount of money Real Estate marketers spend was brought home a this week with a glance at the above Adify chart, indicating CPM’s^^.  Real Estate spending was one of the few standouts in an otherwise “reduced spending” environment. The chart above, more here at Adifys site, shows Real Estate as the dark blue line depicting increased spending this year, going from $2.38 in Q1 to $7.62 in Q3.

In a related subject post over at the Unconditional blog, the question was being asked about how much spending is too much when it comes to the number of websites a property should be listed on. You can read my comment on that post.

^^ CPM is advertising speak for Cost per Thousand impressions

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