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There are only 5 main ways in which estate agents advertise their clients’ properties:
For Sale Boards. These are a highly effective way of generating enquiries, as many properties have been sold simply by a potential buyer driving past a house, seeing that it is for sale and then calling the estate agent for details.
Advantages: A board can be put up as soon as you have instructed an agent, so you get immediate advertising. Secondly, if someone is viewing another property in your neighbourhood with another agent, they may notice your board and ask to view yours too.
Disadvantages: Some people don’t like their neighbours knowing that they are selling. If people are searching for a property outside their area, they will never see your board.
Newspaper Advertising. Many estate agents will advertise small ‘thumbnails’ of their properties in the property sections of local newspapers. This is not as effective as you may initially think – after all, would you buy a property based on a 1 inch photo crammed in with hundreds of others?
Advantages: A keen buyer may notice that your property is available and call the agent.
Disadvantages: Newspaper advertising often produces lots of ‘casual browsers’, so be prepared for lots of time wasters.
Mailshots. Estate agents are frequently contacted by buyers who wish to be added to the agents’ buyer database in order to receive details of the agents’ properties that meet with their requirements.
Advantages: Your agent may already have a suitable buyer on their database waiting for a property exactly like yours.
Disadvantages: Some agents insist on mailing their buyer database with details of every property that they have taken on – irrespective of how suitable it is for the buyer – so many mailings go straight in the bin,
High Street Offices and Window Displays. Estate agents with ‘high street’ locations will often advertise a selection of properties in their windows, in order to tempt interested buyers inside.
Advantages: A good location can have lots of people passing, some of whom may be interested in buying a home like yours.
Disadvantages: As with newspaper advertising, some agents will only include a main property photo, price and a few bullet points per property in their window. If the window is full of properties, yours may get lost.
Internet Marketing. The internet has revolutionised the home sales process, as buyers can now search through many thousands of properties from the comfort of their armchairs. In fact, it’s not surprising that more than 7 in every 10 buyers now use the power of the internet to search for their dream home.
A lot of estate agents only list their properties on their own websites – so potential buyers have to know exactly where to look in order to find them (and it can be like looking for a needle in a haystack!)
More ‘switched on’ agents advertise their properties on property portals (such as Property Panther), which are simply enormous databases of properties from thousands of member estate agents
These property portals are exactly the right places that the majority of property hunters search in, as they can view properties from many different agents by simply carrying out one search over a cup of coffee.
Advantages: Your property is advertised worldwide, so it can be seen by people outside your area who may wish to buy it. Secondly, more photographs and property information can be included – thus reducing timewasters. Thirdly, your property information can be immediately revised and updated if needed – ensuring that it is always looking fresh. Fourthly, the internet is fast – you can start advertising your property instantly. Fifthly, more people use the internet to search for their dream home than all the other four marketing methods above combined.
Disadvantages: Quite incredibly, some ‘dinosaur’ estate agents still don’t comprehensively market their clients’ properties on internet property portals!
In Summary
As you can see, internet property advertising results in more property sales than all the other methods combined. When it comes to choosing an estate agent, it is important to select one who will effectively advertise your property online – as well as using traditional for sale boards!
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