Vaughan Keenan is Principal of Brisbane real estate business, Grace and Keenan. Grace & Keenan is a boutique business with specialist knowledge of the premium property marketplace. They specialise in marketing homes that will be acquired by a discerning buyer.
In this video, Deb notes to Vaughan that the online presence has changed marketing dramatically.
“How do you actually work out what the marketing campaign should be?”
Vaughan says it’s down to the timeframe. While print media is still a relevant marketing method, if a property needs to be sold in a short timeframe, there may not be time to organise a print campaign.
“Print media still actually brings you buyers that weren’t necessarily looking in that area, or they weren’t necessarily looking to purchase now, but then they suddenly do.”
“People might flip through their newspaper on a Saturday or the lifestyle magazines, and they go “Oh my god there’s a house I think looks gorgeous, I want to go and look at it.” Now they’re not necessarily in the market to purchase, but they end up going to look at it and end up purchasing it.”
The internet brings a huge amount of enquiry on properties, but it’s limitations are that a property search will only show the suburb you have entered and a few surrounding suburbs. You aren’t necessarily going to see a house you would love a few suburbs out of that search area, as opposed to spontaneously coming across a printed ad.
“For some properties, you might need to pull a buyer from another area to actually purchase it.”
Finding the right buyer is all in the timing
In the following video, Vaughan explains that as an agent you’ve got to plan your market.
“Back when we were in Sydney particularly, I used to hold stock back from coming onto the market.”
“If I had your house for sale in Bronte, and I had a house around the corner coming onto the market, I would hold off on the other one if they weren’t in a desperate hurry to sell. I would get yours sold then bring theirs onto the market, because then I’m using the leftover buyers from yours to theirs. They’re not competing with one another.”
The other methods come down to the seller’s timing:
- They may have purchased another property, and they need the funds from the sale of their house to settle on the new property. In this case, the agent needs to get a large volume of people through the house in a short space of time. This would involve a ‘ramped- up’ marketing campaign – auction, large pictorial ads, etc.
- If the seller isn’t in a hurry and is looking for a price slightly higher than the market, the campaign is slower. The seller must understand it may be a long process to find that one buyer who will pay a premium price for their property.
“Some properties are suited to auction and a really sharp campaign in a short period of time – and some properties aren’t.”