Like many industries, the real estate industry has had to adapt due to changing market conditions. Effie Vlachoulis from Harris Real Estate talks to us about the importance of an effective online presence when selling your home.
An effective online profile and an engaging social media presence seems to be more important than ever before for real estate agents. How are these platforms used to attract buyers?
Social media is an integral part of my business; it enables me to promptly advertise current properties and provide an update on what is happening in the current market. Potential buyers are also often interested in what their day-to-day life will look like after purchasing in a particular area, so I advertise the lifestyle surrounding my properties for sale on social media. Other than attracting relevant buyers, social media also helps me to engage with buyers or sellers easily and efficiently, and it also gives prospective sellers the ability to look at my track record of sales.
I imagine social platforms are also important tools for ‘off market’ sales?
Platforms such as Instagram and Facebook are important for off market sales as they provide those on the Harris buyer database with information about properties that may match their buying requirements. Buyers interested in these off market properties are able to directly message me about the property to ask questions and to submit offers before the property is advertised on realestate.com.au and Domain. Off market sales are all about beating the competition before it hits the open market and so social media gives prospective buyers a head start. It is also very cost effective for vendors as there are no advertising fees.
Virtual walk throughs are another technology-based sales strategy that has no doubt been used a lot during COVID. How effective are virtual walk throughs and what type of buyer is accessing this service?
Virtual walk throughs are an extremely effective technology-based strategy. In fact, I would say that they are just as effective as if a prospective buyer was walking through the house themselves. Virtual walk throughs are essentially a guided tour of the property during which I walk through each room of the house pointing out its features, and enabling prospective buyers to ask questions about each room specifically. Most buyers accessing this service are interstate or overseas buyers. Virtual walk throughs open the property market up to more prospective purchasers, giving more buyers a chance to view the home in a shorter amount of time.
Video streaming is another technology that seems to have gained popularity during the pandemic.
Yes, video streaming, like virtual walk throughs, also enables me to contact a wider range of buyers. Video streaming allows people to be part of a live auction without physically being there. This is also a useful tool for people who may have to isolate suddenly.
“97 percent of all home buyers used the internet in their home search.”
NAR 2020 Home Buyers and Sellers Generational Trends Report
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