Case Study – Alfred Cove
Unlike many others in the industry, we pride ourselves on being more than order takers or salespeople at MGP. One of our key skills is being expert property marketers.
If you are wondering what the return from your marketing campaign could be, we can tell you that an effective allocation of marketing spend can result in a huge return on investment.
Let’s look at a case study from a recent property sale in Alfred Cove and how this result can be attributed to our high-level marketing campaign. Watch the video or read on…
Off-market test
How can we measure this? Well, before we ran the full campaign, we commenced an off-market* campaign. From this campaign, we were able to secure over 30 enquiries in one week which would be a good result for any normal listing on realestate.com.au. We held two home opens and had reasonable turn outs at each. This led to buyer interest between $1.15m and $1.175m.
*Off-market means that the property is not advertised anywhere other than to a database of known local buyers. There were no professional photos, videos, home open material, digital marketing or print advertising produced, however the property was well presented.
Introducing our process
We knew that achieving the best possible result would be a matter of process and precision.
First up its preparation of the house. Like many people who have lived in their home for many years, the sellers from this case study had accumulated many personal items that held sentimental value to them and had them displayed proudly around their home.
Our first job was to advise on the importance of decluttering a space and how to best present a home in order to appeal to the widest range of buyer-types and those most likely to be interested in that particular property.
We walked through each room, discussing furniture placement, which items should stay or go, and any minor improvements that could be made to ensure each room was presented in its’ best light. We had great sellers to work with here and the results were outstanding.
The marketing
Once we knew we had the property presenting at its finest, we worked with our photographers and videographers to create high-impact marketing collateral. These formed the visual elements of both our print and digital marketing campaigns that consisted of the following items:
Marketing Assets Used:
- Twilight photography
- Premium video
- Floor plans
- Property brochure
- Home open feature cards
- Home open video
- Light refreshments at home opens
Print Media:
- DL Flyer drops to surrounding area
- VIP Home Open Invite letters
- Editorials in PerthNow local newspaper
Digital Advertising:
- Premier placements in online property portals
- Additional layers of realestate.com.au advertising
- MGP Property website
- Social media advertising
- Google display adverts
Signage:
- Premium For Sale Signage
- Home Open Directionals
Internal Marketing:
- Direct calls to buyers from previous properties
- Database marketing
Our campaigns are highly optimised and one such as this costs in the vicinity of $3,000 to $4,000.
Measuring the marketing
The success of a marketing campaign should only be measured by the result achieved.
Across the digital platforms, this property was viewed over 600 times on the first day, compared to around 50 views for other comparable properties.
Throughout the whole campaign, the property was viewed over 7000 times across all digital placements, and the video was viewed 2,300 times.
The interest that was gained by these views attracted over 50 buyers to the home opens across two weeks.
Our home opens
The home opens were strategically held on the days and times that ensured the largest attendances. There were consistently good numbers through the opens, and we received many comments about how our home opens stood out against our competition. This lead to a many buyers returning for multiple viewings.
Every one of our home open attendees was followed up with a “Thank you for attending” SMS and then follow-up calls to capture them during their decision-making process, rather than waiting until the next week when their mind may have already been made up.
Our negotiations
This led to two buyers making offers withing the first two weeks. With a clear plan in mind, we utilised our negotiation skills and were ultimately able to deliver an offer to the seller above asking price and after only two weekends of home opens.
Of top importance … we communicated with our client frequently throughout the campaign which we know allows a seamless flow of events to occur and ultimately a quicker and better result for our client.
The final result …
With our recommended investment allocation, the campaign delivered strong interest and an incredible result. The seller was able to turn a marketing spend of $4,000 into an extra $50,000 + in sale price given where the price would have been if only generating an average level of enquiry via more basic marketing methods.
Achieving the best possible result for the sale of your property is a matter of process and precision.
As expert marketers and negotiators, our role is not to simply give a promise of a high price, but rather to devise and execute a strategy that will ensure we achieve the greatest possible price for you.
On the back of this success story, we have since been entrusted by neighbours to manage the sale of their property – so, stay tuned for another success story.
If you are thinking about selling, talk to James Priestly today on 0447 120 125 about how MGP’s high-level process and optimised marketing plans can ensure you achieve the greatest possible price
