Advertising FAQ
Estate agents talk about “market penetration” – what does this mean?
Estate agents often use the term “market penetration” has no relevance to the sale of real estate. It sounds good, but has little significance beyond that. Market penetration is defined as
“the extent to which a product is recognized and bought by customers in a particular market”. It has more to do with branding and corporate advertising. Advertising a residential house is a different matter. (See
“What is the most effective form of advertising?” below).
What is the most effective form of advertising?
When we talk about advertising real estate we are really referring to the means by which potential purchasers are made aware that a property is on the market. It is well known throughout the real estate industry that the two most effective ways to let everyone know that a property is available for purchase is to identify the property with a “For Sale” sign, and to post the property on the
internet.
While there are many and varied ways and means by which real estate can be advertised, they are all additional to, rather than substitutes for, the property sign and the
internet listing.
Can I arrange my own additional advertising if I want to?
Of course. One of our clients put a handwritten notice on the community notice board in her local general store. The general store was the focus point for local news and information. The property sold because another local person saw the notice.
While this is a quaint example of using other forms of advertising, our observation is that most real estate advertising is a waste of time and money, directed more to promoting the estate agency than the client.
(Consider this: why do advertising services target
estate agents rather than consumers?)
We provide all essential advertising as part of our fixed fee. While we do not encourage our clients to spend money on alternative forms of advertising, we do recognise that some clients will want to do all they can to "cover all bases".
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