Man calculating how to reduce costs when advertising a listed property

As an agency, what techniques do you use to make the properties you want to sell more visible? Apart from your own techniques (web pages, mailing to interested profiles, displays and windows, calls or messages via WhatsApp to clients who might be interested…), you will probably be “forced” to make use of the different portals and directories of properties such as Idealista, Habitaclia or Pisos.com when advertising a listed property.

The relationship between the agencies and these portals is a “love-hate” one: on the one hand, the visibility of the properties advertised on these portals is multiplied exponentially, although on the other hand, the costs associated with these services requires that each property is advertised for as short a time as possible. How can we reduce costs when advertising a property?

5 tips to reducing costs when advertising a listed property

INDEX:

1. Reduce dependence on external portals
2. Show as much as you can
3. Saving time means also saving costs
4. Analyse the procedure that works best for you
5. Don’t stop collecting information

1. Reduce dependence on external portals

That said, home advertising portals are great allies when it comes to gaining visibility, but they also involve additional costs. Therefore, if we work with these directories, we should not include them in the process immediately, but only in those cases where it is really necessary to increase the visibility of the property.

If a property comes into your portfolio that immediately brings a possible buyer to mind, go to them first before advertising it, or even establish a previous filter for possible interested parties to whom you can offer it to without having to spend on promotion resources.

2. Show as much as you can

The time you spend on keeping a property advertised , either on your own website or on different portals, will increase the costs of the promotion. Therefore, you must facilitate all the processes that allow the user to know in as much detail as possible which properties will suit their needs.

Nowadays, the idea of showing a brief outline of a property and expecting the client to ask for more information has ceased to be a productive sales technique. On the contrary: now the client wants maximum information in minimum time and effort.

For this reason, listings (whether on the web itself or on portals) now include resources such as “powerful” image galleries or innovations such as virtual tours of properties that resolve any doubts. This is increasingly more appropriate than ambiguities that leave users confused and unsatisfied.

3. Saving time means also saving costs

Not everything consists of reducing promotional actions that involve additional expenses when it comes to reducing costs. The time we invest also translates into direct costs (the cost of each agent’s hourly wage) and indirect costs (by investing in a particular property, promotional opportunities for other properties in the portfolio are lost).

Therefore, linking to the previous point, we must avoid any ambiguity or lack of information that can be offered initially. If you are constantly asked about the distribution of a property it will be because the property file does not indicate it properly: add a location map or better still, a virtual tour of the property so that the interested party can view it exactly as if he were visiting it (but without travelling).

4. Analyse the procedure that works best for you

Every client and every property is different, so why follow the same procedure for all? There will be properties that, as we mentioned in the first point, will cost less time and resources when it comes to finding them a possible buyer. Similarly, there will be properties that cost more than others that come out of the agency’s portfolio.

Therefore, we must establish different procedures when advertising a listed property according to its specific characteristics: from introducing it to external housing portals (and how many), going to the database of possible interested parties directly (through calls, mailings, personal message, etc.), letting them discover it, adding more images, more information, a 360º tour of the property, etc.

5. Don’t stop collecting information

Information is power, and to be able to analyse the procedure that works best for each property, we need to have it to hand. Therefore, the analysis and the tools that make it possible must be part of the sales process of every real estate agency concerned with improving its services.

Experience is key, and we may already know what to promote in advance judging from how properties of similar types have been received, but analysis and data are more accurate than intuition whether we like it or not. So knowing how many visits a property receives online and how many become buyers, helps us increasingly to identify which methodology is suitable for a property to sell better and thus reduces costs when advertising a listed property.