How to encourage your vendor to invest in marketing

As a salesperson, you understand that investing in marketing brings your listing greater exposure, more potential buyers and gets your vendor the top price for their property - achieving you house price maximisation. So asking for an advertising budget seems like a no-brainer, right? 

It can be a challenging sell to those vendors who are hesitant to invest the extra money, especially when they’re hoping to profit from the sale of their property. Sometimes it can seem easier to avoid bringing up marketing for fear of losing a listing altogether – but in the long term, it’s worth the investment and it’s a win-win for everyone involved. 

To help you deal with some of the common objections you may hear, we’ve pulled together some top tips to help educate your vendors on the value of investing in advertising.

1. Help them understand the benefits

Ensuring your vendors understand why they need marketing - and how it can help them get the best price for their home - is key. One of the best ways to deal with the objection ‘I don’t want to pay for marketing’ is to be really clear on what you expect a marketing campaign to achieve, and what’s at stake if they don’t.

Some of the key benefits of premium property advertising on realestate.co.nz are:

• You’ll get greater reach. Promoting your listing gives it maximum exposure across our site and gets it in front of more serious property seekers. You never know where your next potential buyer is coming from.
• You’ll attract all the potential buyers. By upgrading your listing you’ll get as many potential buyers as possible, creating more competition on your listing which will help drive the price up. Buyers can be passive, active, local or out of town. An upfront investment will reap the rewards later.

If your vendor is still not sold, talk to them about the importance of the property making an impact as soon as it’s listed – and the potential risk if it doesn’t. If a property isn’t marketed properly from the outset it could fail to draw interest from buyers – and when properties sit on the market for a long time, potential buyers tend to wonder why it hasn’t sold which can impact its value. 

To front foot this, suggest that it’s better for them to invest upfront in marketing, ensuring they don’t lose out when it comes to achieving the best possible sale price for their home.

2. Prove the effectiveness of vendor paid advertising (VPA)

Now that your vendor understands the benefits of VPA, show them that it actually works. Use case studies of your previous listings to show the sorts of results that they can expect from a marketing campaign. Think about the results your vendors want – maybe it’s the highest sale price, or a quick and easy sale – and tailor your case studies to prove that it can deliver on their goals.

When it comes to digital marketing on realestate.co.nz, it’s easy to see the impact upgrading to premium advertising products has on a listing. Use our case studies to help your vendor understand the results they can expect. Our case studies demonstrate the uplift in reach, views and engagement with a listing when it uses premium advertising packages. 

Once your listing is live on realestate.co.nz, you’ll have access to our agent reports on agentpro.co.nz, which gives you detailed reporting on views, enquiries and engagement - helping you show your vendor the return on their investment.

3. Give your vendor a variety of package options

Not all marketing packages are created equal and, depending on how keen your vendor is to invest in marketing, you can give them a variety of package options to suit them. This will help them better understand what a more basic package looks like, versus a more expensive one, and what you’d expect each package to deliver in terms of results. Here’s some ideas of what your packages could look like.

Remember that less is more here – don’t overwhelm them with options. Choose recommendations that are best suited to them. This will help your vendor feel confident in your expertise in helping them achieve their goals.

Ready, set, sell!

With these tips under your belt, we know you’ll be feeling more confident to sell vendor paid advertising. One final piece of advice from us - believe in your strategy and trust yourself. Remember that you’re the property expert here, so if you genuinely believe that what you’re selling will achieve your vendor's goals, they will too. 

Looking for the perfect digital marketing package? Check out realestate.co.nz’s 2020 marketing campaigns here.