We've asked our friends at Property Division to write this guest post about the evolution of property marketing.
In days gone by, marketing property for sale or rent was pretty simple and could be handled with a few notices or in the safe hands of your local estate agent. Things have changed a lot since then and if you want your property to sell at the right price, or to find a tenant, your approach needs to suit your target market in a much more connected world.
“The marketing world in general has changed a lot in recent years and that’s no different for the property market,” said Belgravia estate agent, Best Gapp. “But, while more things can be done from the touch of a few buttons, you still need to know who your ideal market is to ensure you get the best and quickest end result.”
Property marketing methods – a history
When people began renting out rooms or property they owned, in the past this was often done by popping a card in your local shop or hospital to attract your desired tenants. Word of mouth was also a good option among communities smaller than we have today, as was advertising in your local paper.
As the property market grew and more people began to buy homes, estate agencies became more prevalent and they would handle the advertising and marketing side of things. This would still include listings in your local newspaper as well, as a prominent advert in the window of your chosen estate agency.
Of course, as part of the service you pay for, they would get in touch with people they knew were interested in buying or renting a property like yours and arrange viewings that way, too.
“Property marketing was something that many people did for themselves, particularly with regards to renting out rooms or homes, before buying and selling property became more popular and estate agencies become a more common option,” said Knightsbridge estate agent, Plaza Estates. “Now, however, there’s a combination of both – the professionals handle a lot of it, but home owners and BTL investors also lend a helping hand with sharing online listings.”
Modern day property marketing
With the digital world growing all the time, online marketing is the most popular way to market property for sale or rent. In addition to the growing digital world, the rental and sale market has expanded too.
There are well-known online estate agencies where your chosen estate agent will share your property details. But, social media and online message boards mean you can also choose to share those details in the relevant places yourself.
That means if you’re targeting students, professionals or nurses, you could share your property listings on the right website to help promote it to the right market. If you’re looking to sell or rent to families, share your listings on social media – your friends and family will likely share the listing too and it could quite easily end up on the feed of someone who’s looking for a property just like it.
Of course, you want your estate agent to work on it too – get it on all the most popular websites, local papers, their own window and make phone calls to registered potential buyers or tenants. But, if everyone plays a part to help ensure your property is as visible as possible, then there’s a much better chance of success.
“Marketing property today is something that’s more accessible to the owner of the property than it used to be,” said Lawsons & Daughters. “Make sure your chosen estate agent – be they high street based or online – does their part but use the web wisely to achieve the best outcome for your property and needs.”
Create a Property Marketing Strategy That Works
Putting together a successful property marketing strategy involves firm knowledge of your target audience, a clear understanding of the market and its trajectory, and a forward-thinking mindset when it comes to the latest marketing technologies. You can find out how to do all that and more in our property marketing guide. Alternatively, book in a call and see what our experienced team of property marketing experts can do for your business.