Sales

Are newspaper and magazine ads a waste of money?

This is a space that has been in continuous debate on whether it bears any relevance in today’s market. With digital striving forward, always covering more ground, print media is quickly losing the battle for both effectiveness and efficiency.

It’s no wonder everyone argues on whether they should advertise their properties in some of these publications, the pricing is so disproportionate to its value, it’s a bit of a joke. But, after saying all that, print media still has its place and stills bears some relevance in the real estate market.

First you need to understand why you would use it. This part is simple, it attracts buyers you wouldn’t capture through the real estate websites. These buyers aren’t a majority, though they can be the deciding factor on whether you end up with thousands or even tens of thousands of dollars more with your outcome. For the most part print media appeal to ‘passive buyers’. These are buyers who aren’t necessarily looking at that moment for real estate, they’re cashed up in most cases and in a sense, waiting for something to come to them.

These buyers mainly consist of investors, downsizers, builders, renovators and developers. This isn’t the whole list of people, though generally your property would be best suited for print if it were attractive to one of these types of buyers. The reason why these buyers are never actively looking for properties is because they’re mostly too busy with their current life than worrying about adding more stress by spending hours in front of a computer looking for property. They do have morning coffee though and this is the best time to catch their attention, while they flick through the local paper.

So how do you know if it’s worth investing money into print? It’s simple, ask the agent you’re interviewing is your house attractive to any of the passive groups of buyers mentioned, which ones and why? If that answer is logical and the advice sound, then I would always invest a minimum of two weeks and always take as much attention as possible which would be full pages or even double page spreads.

What to watch out for is the agents agenda. Many agents don’t really believe in print media, some don’t even really understand how it actually works. They only care about building a column for themselves and their company and they love promoting themselves with your money.

So, before you commit to thousands of dollars in such short term marketing, make sure it has been sold to you properly with a strategy on how it will attract potential buyers to your property.

 

DISCLAIMER

The following advice is of a general nature and intended as an opinion and broad guide. For all legal, financial or real estate advice you should obtain independent professional advice to do with the specific nature of your circumstances before making any legal, financial or real estate decisions.

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