Ewan's Blog

Is it worth it?

Wednesday 13 Nov 2019

Property prices are rising, that’s great news but I think it is important for you to know that there are some other rises having an impact across the local property market that might not be so welcome. I explained recently in this blog why marketing is an important component for a successful sales campaign so it’s obviously disappointing to report the costs associated with accessing online marketing platforms have risen sharply. Here is my advice…

The realty agents and their vendor clients face are that the cost of listing a property on the two key retail property portals, realestate.com.au and domain.com.au, have increased significantly. I empathise completely with the motivation to keep sales costs to a minimum so as to maximise the financial benefit delivered by the sale, which means every cost of selling should be evaluated carefully. 

Is it worth the cost? There are two things I would emphasise here for vendors to consider. 

Your choice of the selling agent is crucial. Of course, that decision will involve analysis of the ‘cost’ or commission charged by the agent but it’s dangerous to make a choice based on agent commission alone. Keep in mind the quote: If you think it is expensive to hire a professional wait until you hire an amateur.

You need to identify an agent with the experience, confidence, contacts, communication and negotiation skills to provide you with the information you need and the right advice to achieve the very best possible outcome. 

With the right agent, you have the right person to advise you if investing in marketing via the online portals is going to deliver the right return on what can be a significant investment. It is true that in general, 96% of property searches start online. Marketing portals are important to generate exposure but do not underestimate the power of a personal introduction when it comes to converting a casual search into a signed contract.

The right property professional will have a depth of contacts and strong client relationships through which they can maximise the exposure of your property and personally introduce it to targeted clientele. Morton agents have worked long and hard in their local area and so have established long and strong client databases to whom they will present your property. 

My advice is definitely never to assume you automatically have to list on the portals but equally remember the investment could pay great dividends. Every property and the expectations of every vendor is different which is why Morton agents carefully tailor every marketing to achieve the best financial outcome for the vendor.