How much is too much?
“You can’t sell a secret”; “You should invest at least 1% on the advertising campaign”; “You need to cast as wide a net as possible”; “ You need to spend money to make money”; "It's a numbers game"
These are just some of the lines home sellers are given when the topic of marketing comes up. It is important to note that some agents are taught two things about advertising schedules:
Build your professional profile with big marketing campaigns.
To get your sellers committed make sure they spend as much as possible upfront.
Ask some friends that are actively in the market to buy where they find the properties they are interested in. You will quickly discover that the “standard” real estate model for marketing does not always target the buyer you are looking for.
However, the key is also maintaining the ability to walk away. Not just you but also your agent.
Have a look at the suggested marketing campaign below. Most of which is for the purpose of achieving the above two goals:
When this campaign was first shown to the prospective sellers, it was doubtlessly delivered to them with certainty, confidence and an insistence that every aspect was necessary to ensure that the best buyer is found.
Now imagine it's a month down the track and the auction has just gone silent. There is a crowd of buyers and curious neighbours waiting outside. The agent walks in and proceeds to tell you how "you need to meet the market" and "if we don't sell now we will need to run a new advertising campaign". You are then given two choices.
Accept a lesser price than you were promised or pay the $9000 advertising bill. If you accept less and sell, you can move on. If you hold your ground and refuse to sell, then you must pay your current agent out, find a new agent, and potentially go through the same process again.
The pressure is so high at this stage that most people give up and sell for whatever the market provided them on the day. It doesn't have to be that way.
So what is the solution?
As a lot of the marketing products available are more targeted towards boosting the agent's profile, ask the agent how each item will find more buyers. When you look closely you will discover that it takes a lot less than you think. The golden rule to protect yourself is:
Never commit to paying any money for commission or advertising unless you receive an offer you are happy to accept.
At your appointment, we will run through all the marketing options and work with you to create a campaign that ticks all the boxes! There are absolutley no charges for commission or advertising UNLESS SOLD.