Real Estate Guru, Internet Dummy Series ~ To Print or Not to Print
Can you keep up with the target market as they change how they search?
Four of Five of today’s property searches are done online. The new younger target market considers traditional newspaper ads as old news. Thus is the way of the new generation of internet savvy buyers that is used to instant gratification. These potential buyers are not willing to wait for a real estate agent to provide them with a printed list of properties, nor are they willing to pay for a printed listing of week old ads. The problem is with deciding how to expend your resources.
Why are online listings so popular now? Simply put, the information is instant, up to date, easy to read, and offers a lot more than the traditional paper advertisement. The first thing that needs to be understood is that an online ad cannot be written, or thought through the same way a print ad is. Let’s step through each type of ad and look at the differences.
Printed Ads
However important each part of an ad is, a paper ad is usually no more than a few inches in size limiting the information that can be provided about the property. The most important part of the ad is the price which is usually large and listed front and center of the ad. That does not leave much room for property details. In order to cram as much information about the property as possible in this limited space, the listing agent must understand the common real estate abbreviations such as WIC (walk-in closet), F/P (fireplace), W/D (washer-dryer hookups) and EIK (eat-in kitchen). Along with these abbreviations there are also common phrases or terms such as a walk-up which is a multistory building without an elevator. Using these terms saves on space but can confuse potential buyers/renters and is never a complete list of everything the property has to offer. The next part of the ad is the specific features of the property. Again because of the limited space these features must be limited in quantity and abbreviated where possible such as month to month at end of lease and other lease/purchase options. If there is room to add more information, date of availability, amount of security deposit, application procedures, and an image of the property can be added.
These types of ads can give a searcher a general place to start looking but does little to set one property apart from another. This lack of detailed information about a property is why online ads have become so popular. They provide the searchers with all the information you are willing to throw at them. It answers all of the searchers questions and puts the important information FRONT and CENTER.
As a searcher I want to know…
1) Price, can i afford it
2) How many beds / baths, will this property accommodate my family
3) Where is it located, how far am I going to have to commute to work / shopping
4) What utilities are included, I need to know what my total cost of living / month is going to be….1,000.00 / month rent w/ included utilities is very different than 1,000.00 / month when I have to pay for gas / electric / water
Online Ads
The most important thing to remember before writing your online ads is that you are no longer competing with a few dozen ads in a paper. You are putting this ad up against hundreds or thousands of other listings offered in the same area. Online ads provide the ability to post all of the details of the property along with multiple images. Understanding how to write this ad is in large understanding how your potential buyers/renters will be searching for it. Searchers will not be entering the standard real estate abbreviations into the search box. They will be searching for specific features, locations, and amenities, or terms. The more information you are able to provide about the property the better chance the ad has of returning in a set of search results or query. The average search query (terms entered into a search box) is approximately six to seven words. Searchers want to quickly filter down thousands of listing quickly. Searching through printed ads could take hours to find only a couple of properties that may meet you criteria. In order to find out more information about the property or to see if it is still available you must call the listing agent.
The first thing that a potential buyer is going to see is the title of your ad and an image of the property. The title needs to be a strong opening statement about the property, catchy yet clear. It should be something that focuses on what makes this property special, like “Gorgeous 2-Story Waterfront property with private Dock.” Images are probably the most crucial part of the ad. The main picture for your ad can be an image of the front of the property (the curb appeal image) or an image of something that sets the property apart from others in the same area. Enter as many details about the property as you can, size, date built, utilities, lot size, beds, baths, deposit, application fee, and availability. This information helps to answer many of the potential client’s questions. Listing this information in the ad will save time and phone calls, no longer answering the same questions over and over.
The property description (How To) is the place to create honest and descriptive content about the property. Use this area to describe the property in detail. Use keywords and phrases in this area that potential searchers will be looking for. Try not to exaggerate details or cover up flaws with flowery words. Mention major features or benefits of the property like “easy access to major highways” or list the local landmarks, things to do and community events. Other details about the community that the property is located in are also a great thing to add, such as local schools. List your name and contact information. If you have a website or video/virtual tour, make sure to include it. Appointment or property viewing details are also a great thing to list.
Online ads may take longer to generate, but they help to create more educated buyers and renters who are less likely to waste your time. It may sound funny but these ads are designed to get you less phone calls. Yes that’s right LESS phone calls, however the phone calls that you do get will be from a more educated searcher who is generally interested in viewing a specific property. If all of the frequently asked questions are answered within the ad, the only calls will be from qualified searchers, who are ready to move in, looking to setup appointments. Wouldn’t you like to spend less time on the phone and more time actually closing deals?
Now put yourself in the shoes of the searcher…..Which type of ad would you like to see?
This is a very thorough and clear explanation of how to create an effective online listing. I’m going to share it with the Let’s Talk Property Management. Thank you!