The Sydney real estate and property market has had some big shifts over the last 3 years. Property prices especially residential housing has slowed considerably. Apart from prime coastal locations, premium properties in the Eastern suburbs and new estates being built in the outer Western suburbs, Sydney’s property market is in a slump and doesn’t look to pick up any time soon. This has meant the competition is getting fiercer and the property industry is more than ever needing expert advice and assistance on how to get the biggest bang out of their marketing dollar.
So how does one bring a property project to life, create a brand story that will connect with customers and then ultimately drive enquiries to the sales team? Using an agency that has expertise in this area is the most obvious choice when marketing your property development. Any agency worth their salt would employ a key strategy to maximise your spend. Below are my 5 mandatories when it comes to getting ahead of the game in property marketing.
1.Embrace Social Media
Social media is not exactly the new kid on the block, but it definitely has superseded some of the more traditional forms of advertising like radio and print. Make sure your brand is on all the major platforms like Facebook, Instagram, Spotify, Pinterest, and YouTube, but this alone won’t be enough. You’ll need high quality images of your properties and lifestyle offerings as well as a consistent integrated campaign providing your customers with relevant information and engaging with them on a regular basis to build trust and loyalty. Keep your socials dynamic with Instagram video updates and stories and Pinterest boards are an effective way to provide images and information for specific listings i.e you can create a Pinterest board for a single property that in addition to location and property photos highlight the major positives of the area.
- Create a “Kick Arse” Brand
With so much competition in the property sector your company and its offerings need to be positioned above your competitors. Your brand and in particular your logo is the entry point for your customers to get a sense of who you are and what your company represents and it’s the foundation for all your subsequent marketing material. With this in mind make sure your brand is communicating your unique selling point and is reflecting the high quality of your service and product.
- Use customer reviews and testimonials
Buying a big-ticket item like a home or an investment property involves a truck load of trust. There are a number of ways to build customer loyalty and trust. Branding and creating an effective brand story is one way to achieve this, word of mouth by the way of reviews and testimonials is another. In the age of trust and technology and collaborative consumption, testimonials and reviews are the consumers means of understanding who to trust and importantly who to hand over their hard-earned cash to. If one of your customers have had a great experience with you make sure this is posted on your socials and appears on your website.
- Keep an eye on your competition
Keep your customers close but keep your competitors even closer! What are the top players in the property market doing, how does your branding stack up against theirs? What’s their online presence like and how engaged are they with their socials? If they have an SEO campaign what are their Ads like, what is performing? A competitor analysis could be worth its weight in gold if you’re able to replicate their success whilst avoiding their mistakes!
- Focus on your online presence and be mobile friendly
The general trend of buyers researching online continues to grow. This is probably the most important factor to consider above all the factors affecting this industry.
“A study from the National Association of Realtors showed that 92% of buyers use the internet to begin their house hunting quest, driving home the vital need for real estate and property agents to have an active online presence. If you’re not active, engaging, and networking online, then you’re missing out”. (Megan Marrs 2019)
With technology being such an important factor in marketing and selling in the property sector your online presence needs to be a priority. This doesn’t only mean you will need a dynamic and engaging website (which is a very important consideration) but includes your SEO and EDM campaigns. A recent Google study revealed 80% of Internet customers use their mobile devices for this online activity so there is no point in having a “kick arse” website” if it’s not mobile responsive so make sure your site is mobile friendly. Go a step further and create a mobile app that potential customers can review property listings on.
There is a stack of other marketing techniques to get you ahead of the game with your property marketing; however, the above is a good start. For more tips and tricks speak to an agency who is skilled in this arena, this will be money well spent as it will ensure the maximum return on your dollar.