Investing in buy-to-let property has proven to be a lucrative investment asset class for many decades. Property is rewarding to both investors and agents but sits firmly within a challenging and competitive sector, which is why the marketing of property requires careful thought and consideration to maximise returns.
Indeed, according to a US study, 88% of property buyers used a real estate agent to purchase their home. Moreover, this study also highlighted that 73% of those interviewed said they only consulted one estate agent in the process. The implications are very clear: property marketers need to get in first and be noticed.
Having strong insights into property marketing plays an essential role in making sure that you get noticed as soon as possible and therefore secure the business of clients.
In the UK, a government sponsored report also noted important things about property marketing worth knowing about.
From the sellers:
- Most (75%) sellers asked more than one estate agent to value their home but nearly all (94%) opted for a sole agency contract when they put the property on the market. Although one in ten (12%) of those opting for sole agency would have rather appointed multiple agents, they were put off by the higher fees.
- Experienced sellers were more likely to negotiate the terms of their contracts (typically fees or length of contract) (42%) than first time sellers (30%).
- Similarly, experienced sellers were more likely to change agents to achieve a sale (18% compared to 13%), most commonly because they believed they were not getting enough viewings. Similarly, those in a chain and often under pressure to complete a deal were more likely to change agents (21%) than those with no onward purchase (15%).
With the importance of good property marketing in mind, let’s take a close look at some good ideas to market property to get in early and attract buyers.
Create an eye-catching website
Jamie Johnson, CEO of FJP Investment, offers some good advice on creating an eye-catching website, “This is the 21st century, and so before making a purchase, many people use the internet to research their options. Real estate websites allow you to showcase the services and products that your company offers to prospective customers. To keep potential buyers coming back to your site, you should provide property listings and update them frequently. This keeps the website fresh, updated, and relevant to potential clients.”
Also, to make your website stand out, incorporate something unexpected. A simple way to give value to visitors is to provide something like a mortgage calculator. Other useful website tools include a “Contact” or “enquiry” box, as well as a chatbot option. Open as many avenues of communication as possible.
Avoid cluttering the website with too much information and unnecessary gadgets, like pop-ups. A simple, fresh, interactive, welcoming design is best.
Develop an informative and creative blog
Additionally, you may establish a blog and publish SEO-friendly material. By doing this, you can be certain that your content will always appear in prospective search results. If you want to find out what your target audience is searching for, you may use tools like Google Analytics and Ahrefs to do so.
Improve their experience by making it simple for them to find your main website and navigate it with ease, and to find the profiles of your business on other property websites
Remember to add eye-catching infographics, images, and videos to your blog posts as well.
Gear at least some of the blog posts toward topical issues in property and answer the anticipated questions that many will have. For example, inform people about upcoming changes being introduced by the government in homebuying and where they can go to find further information on them.
Use email marketing campaigns
When new properties come on the market, send out a monthly newsletter email with a summary of your blog posts and contact your client list to apprise them of new listings and investment opportunities. You can include photos or videos of homes that connect to the complete listing, or a virtual staging of the home.
When real estate agents send out updates like this, their existing clients will see the type of marketing that is being done on their behalf; it will reassure them that their listing is in good hands.
Provide virtual tours
Property agents are constantly looking for innovative methods to market their services, so what are some ways to increase sales and keep customers interested?
You might want to provide a virtual tour of the property. Technology that is cutting-edge is expected to increase brand recognition and customer service. As a consequence, you’ll see a rise in revenue and profits.
Clients may obtain a feel of a property’s layout and features without having to spend a lot of time on the property or travel long distances to get there. That’s one of the numerous perks of this innovative technology. VR tours make it easier for buyers to narrow down their choices before going to see the home in person.
Consider trying “experiential marketing”
To get your audience to connect with your business in a real-world setting, you could try using experiential marketing (aka “engagement marketing”). Incorporating interactive, hands-on, and physical branding materials allows businesses to demonstrate to their clients not just what they have to offer, but also what they stand for.
You could organise a tour of the neighbourhood you’re selling in, a seminar to teach prospective buyers about the home-buying process, or an open house to allow potential buyers to see the property. Humans are tactile, experiential creatures, and experiential marketing allows businesses and customers to connect in a meaningful and memorable way.
Experiential marketing, according to Forbes, may strengthen a long-term relationship between customers and a business. It can also help you gain valuable information about your customers, which you can use to strengthen your marketing plan in the future. https://www.forbes.com/sites/steveolenski/2018/08/15/3-reasons-why-cmos-should-embrace-experiential-marketing/?sh=55e7bced7da
It is possible for various marketing campaigns to be merged. For example, an experiential marketing event is mostly about seeing a brand offline, but you’ll still want to have an online conversation about it.
Connect and partner with local businesses
Promote your listings by partnering with local businesses like clothing boutiques, home décor showrooms, and coffee shops, and inviting them to an open house event. Set up pop-up stores in various parts of the house to entice visitors to your open house.
You can collaborate with local companies to establish discounts on things that can be provided to home purchasers to encourage them to explore each area of the house as a result of this strategy. For example, DIY, curtain, and furniture sellers could take advantage of this opportunity, which would also help bring in curious homebuyers.
Try paid Instagram promotions
Using Instagram to connect with potential buyers, advertise your properties, and build your brand is another effective strategy for real estate agents. A sponsored promotion of your most stunning photographs will allow them to be seen by even more people.
Using Instagram advertisements, you can select your target demographic, budget, post type (e.g. video or carousel), and duration of the campaign. In addition, you may use certain hashtags to guarantee that your posts are seen by the people you want them to be seen by.
Use drone technology for ariel shots
Using a drone, capture the outside and surroundings of the residence. This creates spectacular aerial views of the property and the surrounding area. Drone footage enhances other footage, and it’s great for combing with ground-level video tours. The more attractive the ad is, the more likely it will sell.
Your listings will be more exciting if you use photographs to entice potential buyers. Video can be added to your virtual tours or walkthroughs to show things like patios and pools that are outside.
When it comes to showing off your clients’ properties, don’t settle for anything less than professional drone photography. When it comes to commercial and residential real estate photography, there is plenty of expertise out there for hire to help you create the best possible footage.
Request referrals from clients
Many sellers who use a real estate agent are referred to them by friends or family members. Asking for references is a good idea if you haven’t already.
A few months after a buyer moves into their new house, send an email to inquire about how they’re doing and ask for a reference. For example:
Hello [Name of Buyer]
Please let me know how you’re getting along in your new home! I’m delighted to have been able to assist you with the purchase of your new dream home.
It was a pleasure to connect and work with you. If you have any friends or family members who are looking to purchase or sell a home in the neighbourhood, I would be happy to assist them too. To discuss the present state of the housing market and what opportunities are available, I’ll be having a workshop next week.
If you know anyone who would be interested in this event, please pass along this link: [Add a link to the event’s webpage here:]
[Your name and position]
Another possibility to consider is offering to throw the new homeowners a housewarming party, which could also act as an opportunity to meet new clients and put the brand name out there.
Create your own video
In the world of real estate, the impact of video is undeniable. You don’t have to spend hundreds of pounds either! Videos may help you stand out from the crowd, whether it’s a professionally produced video or a simple message sent from your laptop to a potential customer.
Connect with others to host a webinar
The current market in your area should be easy to comprehend for potential buyers and sellers, so why not make it as simple as possible? Partner with a local lender, title business, or even a VR provider and conduct an educational webinar for those who are considering buying or selling a home.
For instance, work together with a local home improvement company to host a webinar on the ten most important upgrades sellers can make to their houses to increase sales prices.
Proudly display client testimonials
It’s a great idea to use your prior customers as a source of credibility in your real estate marketing. You can obtain a paragraph-long blurb from them if the deal goes well and they are pleased, so be sure to follow up with them.
Get permission from your clients to use their testimonials on your website so that potential customers may see how successfully you’ve treated others in their situation. You could also set up a testimonials page on your website so clients can visit and add their comments at any time, subject to your approval.
Alternatively, why not ask some of your happy clients to agree to a video testimonial so prospective customers can put a face to their words, making it more real. They could articulate why they were happy with the deal they got and what, in particular, they liked about working with you.
Use more traditional advertising media as well
The digital revolution hasn’t spared the real estate business, but certain old-school marketing methods can still play a role in efficient real estate marketing to augment digital marketing. Traditional media like print ads and billboards are often used by real estate brokers to help them spread the word about their businesses.
Leverage the power of social media profiles
One of the best ways to establish oneself as a reliable advisor to potential customers, develop an interest, and build relationships is by being active and interacting on social media. You can do this across various social media sites, such as Twitter or LinkedIn, by joining local Facebook groups and responding to queries that emerge there.
You may also provide your followers with useful information. Regardless of how you do it, make a name for yourself as an expert in your field by showcasing your knowledge and experience. Your social media presence is a great way to establish a connection with potential customers who are looking for real estate agents that are knowledgeable about the industry, their specialisation, and the locations they serve.