Consumers are changing how they buy and sell.
Let’s get real for a moment.
Not only have we heard and experienced the forecasted shift in the market, the industry itself is changing in a huge way by introducing technology models. The Direct Buyer model has created the iBuyers of today. They see this route to be more affordable for all parties. Brokerages traditionally have not been in contact with consumers allowing only agents to handle consumer transactions. Now consumers are relying on technology, shifting buying and selling trends to work with a company rather than a referred realtor.
How do you compete with that?
The times of putting the listing on the MLS to see what bites may come in are starting to wane. Your marketing strategy must include a marketing budget. Yes, that is correct! A marketing budget. When I asked some industry veterans what their marketing budgets were for their listings, the answer was their fees to their broker that offered marketing service platforms and/or professional photos. It is time to invest in your customers specific listing to show the value of selecting a realtor from a traditional brokerage. Step up your game and go beyond showing a competitive marketing analysis and giving tips to sellers on staging and pricing. All three components of marketing strategy, budget included, industry knowledge, and expert recommendations are essential in this changing industry.
Where do you start?
In your listing presentation, you show current market analytics and your robust industry knowledge. Walk them through your marketing strategy of how you’re going to get showings. Bolster your strategy with marketing tech tools. This is where you can shine by showing your potential clients a more direct marketing tool offering potential buyers an experience.
It has been proven that when adding a Matterport 3D Interactive Tour to your marketing tool belt, it increases visibility, engagement, and best of all can reduce days on market.
Matterport has done a statistical analysis to showcase the value of adding a 3D Tour.
Matterport has done a statistical analysis to showcase the value of adding a 3D Tour to your marketing strategy.
- Millennial buyers now comprise 35% of all new homebuyers on the market, which means higher demand for more engaging, interactive and mobile-ready content from real estate professionals.
- In the next two years, 80% of Millennials will seek to purchase a home, according to Trulia. That’s almost 67 million prospective buyers.
- 89% of buyers across demographics increasingly look to web and mobile tools to narrow down their list of properties to consider.
- In 2015, 39% of digital marketers believed that more of their budget should be reallocated towards creating compelling visual assets.
- Real estate listings with more visual content (like video) receive 403% more inquiries compared to those without video.
- 41% of home buyers found interactive maps very useful, while 40% felt the same about virtual tours.
- 92% of home buyers search the internet before contacting an agent.
- According to Apartments.com:
- Visitors to their website spend 3x – 6x more time engaging with property listings that offer a Matterport immersive 3D experience.
- Properties with Matterport tours receive 49% more qualified leads.7
- According to Redfin:
- Homes sell an average of 10 days faster and for $5,100 more than comparable homes thanks to Matterport 3D walkthroughs, advanced presentation technology, and great customer service.
- According to REA Group:
- Buyers are 60% more likely to email an agent and 95% more likely to call an agent for a property they’ve seen on realestate.com.au that includes a Matterport 3D Showcase.
- Agents using Matterport are seeing real results:
- 90% stated that Matterport helps them build a stronger brand in the marketplace.
- 83% are more competitive because of Matterport.
- 74% win more listings because of Matterport.
Investing in a Matterport camera on your own can be pricey and you have to keep up with maintenance and new products, plus training. There are many professionals out there that are able to keep costs low for realtors so everyone benefits in adding the tour, photos, and floor plans.
Whatever route you decide, adding a marketing budget and complete executable strategy, will set you apart.
Patricia Purcell, Marketing Manager, www.TourItNow.com