The Killer Property Portal Strategy – Part One
Rightmove, Zoopla, OnTheMarket, estate agency website, developer website - the choice is overwhelming when deciding where to advertise your property online – and it’s important to get the decision right. The result could be a matter of a development receiving the right level of attention, building the right momentum and selling out, versus a scheme that does not find the right audience, attracts low lead levels and comes across as underwhelming. I have countless times seen an amazing development simply not sell (or sell at a lower price) because the portal strategy has not been thought out correctly – unfortunately it is the developer who bears the brunt of this (as the agent selling will see little difference in their commission).
Your strategy will depend on whether you’re using sole agency, joint agents or multiple agents (which I don’t think is a good idea). If choosing a sole agent, make sure they cover the ‘right portals’ (it’s safe to say that if you choose just one portal over another, some percentage of the market will not see your scheme).
If using joint agents, make sure they complement each other – ideally covering all three ‘main’ portals (Rightmove, Zoopla and On the Market) to ensure you get the correct coverage.
Multiple agency will simply smother the portal. You may think increased exposure will result in more leads; in fact, it will lead to the opposite. Over exposed properties are not exclusive and click through rates will be on the floor.
But with every good decision, caution needs to be applied. Make sure each agent’s listing is complementing your scheme. Allow them to use their own copy and personality (and make sure you sign this off). However, you must make sure images are suitably different (especially the main image) so the property doesn’t seem to be duplicated on the portal and better still, try and get different price points. The estate agent will always want to advertise the lowest priced property, thus showing up on the portals first - so making sure different images represent your scheme is important. If you ignore this point, then your scheme could look over exposed and may put off buyers.
I would also insist my agents allow for strategic listings. For example, if you have 10 one beds ranging from £499,950 - £550,000 - DON’T list all properties. One at £499,950 and probably one at £550,000. Nothing in between. Things will develop as the scheme sells out and you can chop and change when necessary. Also, if you have one unit for sale at £350,000 and the next in price is £500,000 – do not advertise the £350,000 property at all. It will sell naturally, and you do not want the sales team wasting their time dealing with hundreds of enquires at £350,000 with only one property to sell.
Next week we are talking through photography, videography floor plans and brochures – not to be missed!
If you ever want to talk through any of these strategies, please feel free to get in touch anytime.