The Real Estate Advertising Myth
POSTED BY Ross Calnan ON 15 Jan 2018
In today’s real estate marketing, big advertisements make more sales, right?
Wrong! Real estate advertising has increased twenty fold in the past two decades. You would be right to think that property sales had increased twenty fold as well. In 1991, Real Estate Institute of WA (REIWA) recorded 100 houses were sold in Applecross. Similarly, in 2010, REIWA recorded that 78 houses were sold in the same area. In fact, over the past twenty years, the number of properties sold in Applecross has averaged 128 per year. So much for the increase in sales!
This leaves us with the question: why has advertising increased so much if sales have not? Real estate trainers and franchise CEOs have championed the cause of paid advertising to increase their own profiles. However, this increase has come from seller’s pockets, not the real estate agents’.
Potential sellers usually choose real estate agents to sell their home based on their public profile (i.e. if there are more advertisements in the paper, they have a larger profile). However, today’s buyers do not care which agent is selling the property. More importantly, today’s buyers do not wait until the West comes over the fence on a Saturday morning to find out what is on the market. They trawl the internet every day to find a property to buy.
Subsequently, a comprehensive internet campaign is offered to all sellers who employ Calnan Property to sell their property at no cost to the seller.
Author: Ross Calnan