Why Skimping on Marketing Costs You More
Marketing is quite often one of those things that feel like another hit to the pocket, an unnecessary expense. Let’s compare a common ‘free’ advertising package to a Link Living premium advertising package. We know the power of quality marketing when it comes to renting an investment property fast so we don’t bother wasting our landlords time with free advertising.
What you can expect from a free advertising package from another property manager:
– Basic free listing on realestate.com.au which rarely ever sees the first page especially in popular areas.
– Average photos taken on a smartphone by the agent
– No floor plan or an unappealing, poorly detailed floor plan
Whatshould I expect with a Link Living premium advertising package?
- Most importantly, a tenant – and fast
- Professional photos from Capture Realty – The Best Real Estate Photos Around.
- Premium digital floorplan
- Large Signboard (6′ x 4′)
- Highlight listing on www.realestate.com.au
- Platinum listing on www.domain.com.au
- Listing posted on our website, Instagram, Facebook and LinkedIn
Why invest in a premium advertising package?
Other agents may “save” you $100-$200 by not using a Highlight or Platinum listing instead by using a basic, free listing. With this type of listing you immediately miss out on more than half of your potential tenants. 56% of tenants don’t go past the first page on www.realestate.com.au.
First impressions count – awesome pictures and floorplans set the tone for the property on first glance and ensure that it’s as desirable to prospective tenants as possible. Poor photos and floorplan mean they will scroll straight past your property on to the next one. Tenants use the photos as a virtual ‘walk-through’ of the property and if they’re happy with them, will book an inspection to confirm their initial impressions. Most tenants that have viewed the photos and floorplan online that then book an inspection are highly likely to put in an application.
Time is precious – make sure that tenants have what they need when curating their inspection list. Make your property the one they can’t afford to miss out on.
After reading this you’re still probably thinking, sure, these sound like great ideas but I fail to see how it costs more by not paying marketing. Let me explain. A recent property we leased was vacant with a competitor for 2 months. All photos of the unit were taken on a mobile phone, no floorplan and the ad was poorly written. The owner was fed up with losing rent and tired of little to no communication.
We implemented our premium advertising package, professional photos, digital floorplan, highlight listing on realestate.com.au and platinum on Domain, LinkedIn, Facebook and Instagram posts and secured a tenant in 13 DAYS. The total cost of the package? $302.50 inc GST.
The results speak for themselves, but let me break it down. Vacant for 2 months with previous agency, free advertising: Total Cost: $3,600.00. Paid advertising, tenant secured in under two weeks with Link Living including advertising costs? $1,138.00. This cost the landlord $2,462.00 more trying to save $300.00.
If you’re looking to save time and money, don’t put it off any longer. Call me today, Brad Minhinnick 0432 565 556 or firstname.lastname@example.org