At Madison Oakley, we are always keen to use all types of media for our clients properties. In many cases, we even delay the start of viewings until we’re certain the property has been exposed to the market and a representative selection of buyers have had a good chance to spot it. However, we also know that quite a few agents (including several local to our area) these days have given up on print media and we’re always looking for more information on whether this is a good idea. We have previously published several case studies (see our archive blog post titled “Paper advertising vs property websites”) but have just had another opportunity to analyse a new instruction. Here’s some results and some of our thoughts;
August 2013 case study
Property A – a three bedroom modern terraced family home in excellent condition with parking and gardens, priced in the region of £300,000. Three previous sales of similar homes nearby, at similar prices and within the last 12mths.
First loaded onto property websites (Rightmove, Zoopla, Primelocation) on 16/08/2013 with 9 photographs and 1 floorplan. Rightmove performance data attached below. Also loaded onto Facebook (254 likes) and Twitter (897 followers) with an accompanying blog post.
Advertised in the local newspaper (Bath Chronicle/Property Weekly supplement) with a publication date of 05/09/13. Advert size = quarter page with 1 photo and 7 lines of text (571 characters).
Result of total marketing – 2 viewings and 1 offer. Property sold STC as of 08/09/13. Three further requests for viewings after sale agreed.
Source of viewings – both directly from the newspaper advert. Further requests also directly sourced from the advert.
|Rightmove Performance Data||Last 7 days||Last 14 days|
|[green = above average | red = below]||Your Property||Branch Average||Your Property||Branch Average|
|Property Advert seen in search results this many times:||2504||1281||5201||2493|
|Number of times a searcher clicked through to see more details:||53||58||118||113|
|Click through rate*:||2.1%||4.6%||2.3%||4.6%|
|Number of extra detail views**:||61||58||130||112|
From the above information, you could draw an understandable conclusion that the newspaper ad was a straight winner for our client. However, the dates of events might be important – the property was first loaded onto websites during the summer holidays (a traditionally quiet time for family buyers) and only a week before a Bank Holiday weekend. Is it possible that many buyers missed an automated update or simply didn’t check the sites in as rigorous a manner as they would usually?
Whatever the context, can we draw at least two firm conclusions? ;
Sellers = always make sure your property is widely exposed, lest you miss that one crucial buyer.
Buyers = always search for property using every type of media and don’t just rely on robots to do your searching for you!