Advertising - which ones for how long

Discussion in 'The Buying & Selling Process' started by Burramys, 20th Apr, 2017.

Join Australia's most dynamic and respected property investment community
  1. Burramys

    Burramys Well-Known Member

    Joined:
    28th Jun, 2015
    Posts:
    333
    Location:
    Melbourne
    I'm in the early planning stages for a sale next FY, thus delaying CGT for 12 months compared to a sale now. I have not sold an IP for ages and am quite unfamiliar with the market. The probable selling agent has cited the following advertising:
    Realestate.com.au, 45 days premium then standard listing with no expiry $2350
    Domain, same as Realestate.com.au, $1720
    Realestateview $104, no expiry
    Juwai, $150 no expiry

    The IP is nothing that special, will sell for about $800,000, so I'm not persuaded that Juwai is justified. I'm unsure if 45 days premium is justified. Do not most buyers use the search function?

    I'm unsure if 45 days is justified. My understanding is that a month of openings is about right. Also, if Domain has 80% of the market as I am advised, the why bother with Realestate.com? I simply do not know.

    I'm fully prepared to spend what is necessary to get a sale at a good price, but am not prepared to spend where it is not warranted. Advice regarding this would be valued.

    OT somewhat, I was going to sell two years ago but the EPR was about $700,000. By doing nothing for two years I may have gained $100,000. If so, this is a good way to make money.
     
  2. Agent30yrs.

    Agent30yrs. Well-Known Member

    Joined:
    19th Jun, 2015
    Posts:
    295
    Location:
    Brisbane
    HI @Burramys, I'm not certain about Melbourne but in Qld, use Realestate.com.au, Sydney use Domain. (I think Melbourne is Domain). Premiere is essential, the number of views once you get past page 2 drops dramatically - Premier keeps you on top. Forget about Juwai and realview etc - waste of money. Good luck
     
  3. Agent30yrs.

    Agent30yrs. Well-Known Member

    Joined:
    19th Jun, 2015
    Posts:
    295
    Location:
    Brisbane
    Should add, they are typically a min 45 day term
     
  4. Scott No Mates

    Scott No Mates Well-Known Member

    Joined:
    18th Jun, 2015
    Posts:
    14,754
    Location:
    Sydney or NSW or Australia
    In essence, your agent is a marketing expert and should be able to advise which medium will reach the target market. In reality however, you need both re.com and Domain as neither the agent nor you knows where the buyer will come from.

    You haven't mentioned the signboard - this is generally quite relevant in attracting locals seeking to up/down size or those with friends in the area already or for school zone conscious buyers.
     
  5. Wendy Chamberlain

    Wendy Chamberlain Well-Known Member

    Joined:
    1st Jul, 2015
    Posts:
    71
    Location:
    Melbourne
    @Burramys the marketing costs will differ depending on that agent that you end up choosing and their ability to negotiate the best rate with the BDM. Also, the area in which the property is located affects the cost.

    45 days premium on Realestate.com.au now is standard and you get bumped up every 15 days back to the top. Juwai is a specialised website targeting certain buyers. The worth of this depends on the location of the home and the likely type of buyer that you're chasing (for example, an investor versus downsizer).

    I'm not sure who told you that Domain has 80% of the Melbourne market as that is simply not true. Domain is certainly stronger for reaching certain Melbourne demographics but they are not the leaders - realestate.com.au is, by a long way. Each platforms serves a different purpose and reaches a different market - you need to match your marketing to your property type and the potential buyer type. One size does not fit (or reach) all.