“All boats rise on a high tide, but when the tide goes out it is clear who is swimming naked”
– Warren Buffett.
After over 10 years of sustained growth, real estate businesses are seeing the market slow down with double-digit declines in most Australian capital cities. Sydney house prices have declined 16 per cent since the last peak in June 2017, and Melbourne’s current real house price fall of 14 per cent has occurred over just four quarters, and is so far the fastest slump on record.
Despite the doom and gloom, a declining market presents an opportunity for real estate agencies to grow their market share and capitalise on competitors exiting the market. With a number of agencies, such as Purple Bricks leaving the market, a vacuum is created in the market for agents to grow their market share. When there’s less activity, it’s easier and cheaper to reach a target audience.
Don’t make the mistake of thinking that investing in marketing is futile because less prospects are willing to buy properties. Marketing when the market softens is an excellent opportunity to increase your reach, grow your brand and engage with future clients.
Building Your Lead Pipeline Today
We’re approaching an exciting period where savvy agents can grow their listings volume in preparation for the spring selling period. Now is a great time to plan your marketing strategy so you can build a pipeline of seller leads prior to the spring selling period. A tailored marketing strategy which targets potential clients across multiple digital channels including Google, Facebook, and Instagram can generate seller leads which can be nurtured with valuable content over the next few months.
Good targeted content is key. Analysis of Google Trends data over the past 12 month shows consistent search volume for search terms such as “house prices” and “sell house” despite the decline in house prices. Getting your brand in front of home-owners thinking about selling with relevant and targeted content can make sure your brand is top of mind when they are ready to act.
A strategy which targets this audience can generate seller leads for your agency in spring.
Any agent can sell a property in a strong market. When the market slows down, it’s your opportunity to break through the noise and establish new client relationships. To do so effectively, you need to be able to exploit the digital platforms effectively to capture an audience. With the right tools and strategy, you can reach the right people at the right time and make the most of every marketing opportunity. Getting your brand in front of the millions of Australians using Google, Facebook, and Instagram and funnelling them to your website is the foundation of a great strategy.
Creating valuable content is the key to reaching your target audience. From market reports and recent sales to blog articles on preparing your home to sell in spring, your agency needs to provide content that is insightful and relevant. Think about what will resonate with the prospects you want to reach and plan your content strategy accordingly.
Need assistance with social media marketing or digital marketing strategy for your agency? Get in touch with the experts at Plezzel.