You want to put your home up for sale. You expect your real estate agent to write a great description, take some photos to post on their website, and add it to the multiple listing service, or MLS. Perhaps place an ad in a local print or online media outlet. Done. Right?
Not anymore. Today in most markets across the U.S., that is not nearly enough to help your property stand out from the crowd. It’s important that agents today have many more marketing tools at their disposal and can come up with some new and creative ideas. Here are some of the top trends for marketing real estate:
— Social media.
— Video.
— Drone footage.
— Open house.
— History.
— Ads.
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Social Media
Real estate professionals have taken to social media to promote the properties they are representing as a way of casting a wider net. Many agents have developed their own following on apps such as Instagram, Facebook and YouTube, where they can post photos, video clips and even more creative options such as memorable memes and GIFs.
Since social media links interconnected people, anyone viewing these posts can then share with friends they know who might be looking for a home or who they think might find a property appealing. This enables agents to reach prospective buyers they may never have direct contact with otherwise.
Posting clips on TikTok has recently proven to be an effective way to garner interest in properties. Clips can be short, but they should be fun, be accompanied by music and include useful hashtags. These clips can then draw viewers to the agent’s website, where the full video and details can be posted for those who want to know more. Agents across the country have garnered hundreds of thousands of views and followers by posting listings on TikTok.
In addition to the agent’s own social media reach, savvy brokers today occasionally reach out to micro-influencers, or people with a large social media following in a community. For example, if the home was decorated by an interior designer with a social media following, the designer could promote the listing on their feed featuring visuals of their work, while the agent’s feed can promote the decorator as well.
When interviewing potential real estate agents vying to represent your property, be sure to inquire about their social media presence and number of followers, and ask to see examples of their posts on the various platforms. If they aren’t using these tools to market, you are missing out on potential buyers.
There’s Video and Then There’s Video
Producing a high-quality video is also crucial today for marketing upscale and large homes. Viewers can tell the difference between a video shot by an agent on their phone walking from room to room versus a professionally shot and edited video with high-quality footage and editing, hopefully infused with some humor or insightful narrative.
Not only is a high-quality video important to attract attention, but today, many buyers use the video tour as the first step in their homebuying process. This became popular during the coronavirus pandemic when buyers could not travel to view homes in person easily, and open houses or in-person tours weren’t available. However, the trend has stuck, and now buyers will often view the online video first and then decide whether they want to visit the property in person.
One new technology that has taken the video tour to a new level is the Matterport 3D tour. This technology creates an online experience that enables the viewer to move through a property with a mouse click as if in real life and view everything from any angle. These 3D video tours of homes allow buyers to see various views, including closet and cabinet space, and experience the home on a much higher level than a regular video.
There continue to be occasional home sales today where the buyer never visits in person and decides entirely based on the video. This is particularly true for some international buyers. That is why a high-quality video can be crucial for selling a home.
Drones Tell a Unique Story
Drone technology has become better and more affordable over the past few years, enabling almost anyone to take advantage of this unique opportunity to show off a property from above. Obviously, this makes the most sense for large-scale properties with significant landscaping, coastal homes, properties with pools, lush woods or other notable features on the ground.
It can also be used for apartment buildings, where it would be difficult to get a sense of the property from the ground. Recently, I marketed a multi-floor apartment on a high floor in Manhattan which featured several different terraces. We used a drone to film all these amazing outdoor spaces and to give a sense of their views as well.
Open Houses as Events
Open houses are still a great way to generate traffic and interest in a property. Generally, a broker will first host an open house for other local brokers, followed by an open house for buyers. The broker open house is a way to educate and interest other brokers who are working with various clients looking for homes in the area — after which, hopefully, they contact those clients and tell them all about your house.
However, getting brokers to attend an open house is harder these days as life gets busy, or for homes that might not stand out from the crowd. One way clever agents are encouraging attendance at broker open houses is by making them into themed events.
For example, one might bring in Mexican hors d’oeuvres and a margarita bar and play Mexican music and market the open house as a fiesta. Or they will hold the open house on one of the many fun new “holidays” like National Donut Day and provide free donuts. Or they might reach out to a well-known local baker or caterer to provide food for the event, which might entice brokers to attend. Anything that creates some excitement, energy and interest in attending an open house helps drive attendance and, ultimately, a sale.
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A Stand-Out History
You may have read that some of the stunning apartments in Manhattan featured on TV shows like “Succession” or “Billions” have been sold very quickly and at a premium when they’ve come on the market. Buyers love to know that their new home is semi-famous or has an interesting legacy.
Any type of history or notoriety a property has is always worth capitalizing on. Perhaps someone famous once lived there or visited. Or the property was visible in the background of a TV show or movie. Did any historic or notable events take place at or near the home? A smart broker should investigate the house’s history to find anything that could generate interest and make the property noteworthy and stand out.
Targeted Ads
Placing ads in print and digital media is still a key way of promoting a property. However, it’s important for your agent to strategize around who is going to ultimately buy your property. Is it an international buyer or a very high net-worth buyer? Then it might make sense to place an ad in Tatler magazine, a high-end British publication. If your property might appeal to a specific professional like a doctor because the home is near a hospital, an ad in the New England Journal of Medicine might be a great way to target the right buyer. Is the property a great starter home for a younger person? Then you might choose digital advertising over print.
Putting thought into who the potential buyer might be and determining what type of media might reach them is an important factor to consider when placing print or digital ads in a publication.
Factoring in the Costs
Keep in mind that some of these marketing tactics can be expensive. It is important to understand that your agent typically pays for the marketing costs, so what an agent might be willing to spend on marketing will depend on the price of the listing. In some cases, this might mean the seller may need to partially or fully underwrite the cost of some pricier marketing tools.
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These are just some of the many new, nontraditional methods being used to market real estate. The options are limitless for a creative broker willing to think outside the box. As the seller, it is wise to ask a potential agent for their plan for marketing your home.
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How Your Real Estate Agent Should Be Marketing Your Listing originally appeared on usnews.com
