Selling your property is probably one of the most important transactions you’ll make throughout your life. To secure the very best price, it obviously makes sense to get the property in front of as many pairs of eyes as possible. When it comes to property advertising, the old phrase, ‘You have to speculate to accumulate’, has never rung truer. So, what types of additional advertising really make the biggest difference?
What Property Advertising Channels Are Worth Enhancing?
It of course stands to reason that it’s only worth enhancing advertising through a channel that people are looking at!
ESPC is East Central Scotland’s leading property advertising channel. Therefore, boosting your advertising by taking an enhanced advertising product in ESPC takes something that is already great and makes it even better!
Rightmove is the UK’s largest property advertising website. Zoopla is currently the second-largest property advertising website and has a lot of very cool features that make it very useful to property buyers.
What Enhanced Products Are Available?
ESPC Limelight is a great example of an enhanced property advertising product that really can get your property in front of more pairs of eyes. It highlights your property listing on the ESPC, drawing attention to your listing.
Different options exist, from an online-only option to a package that encompases the ESPC website and the ESPC Paper which is seen by tens of thousands of people throughout Edinburgh and the Lothians through various distribution channels.
Rightmove offers a Premium listing. Again, the Premium listing visually highlights the property and makes it stand out from the rest of the properties.
Zoopla has a very similar feature, also called ‘Premium’ and the effect also is to highlight the property and make it stand out as ‘featured’, drawing more viewers to it.
What is the Effect of ESPC Limelight, Rightmove and Zoopla Premium?
When measuring the effectiveness of these products online, we tend to look at ‘Click Through Rate’. This is the number of people who click into the full property advert, to see the full details of the property including room descriptions and floor plans, from the ‘summary’ list of summary property results that they get after they have done their initial search.
The official, advertised figures state that the effect of these products is to increase ‘views’ of the property by about 40% to 80%. In our experience, however, the effect is far more dramatic, and better, than that.
Our figures show that, on average, properties that have Limelight receive roughly twice as many views as properties that have only a standard listing. For Rightmove Premium adverts, the ‘click through rate’ more than doubles for our properties after they have taken a Premium advert.
What is the Effect of These Additional Advertising Products?
It goes without saying that the more interest that is generated in the property, the higher the chances that you will receive an offer.
Additional exposure doesn’t just generate more interest, it also helps properties to sell faster. Our figures show that new properties with Limelight are 33% more likely to sell within an eight week timescale.
With the public’s confidence in the property market picking up, more people are deciding that now is the right time to sell their home. It is therefore more important than ever that sellers raise themselves head and shoulders above the competition.
Adding a Limelight or a Premium listing for the other property portals into your property marketing strategy gives you the best chance to get a higher offer, plus a quicker sale, due to the increased interest and the potential for competition amongst potential buyers.
What Does it Cost?
There is of course a cost for this additional exposure. However, compared to the overall cost of selling a property, it is more than worth it.
Put simply, the extra interest that it generates will usually lead to a quicker sale for a higher price. The price of additional advertising like this can be measured in a few hundred pounds. The additional value added to your sale price can be measured in a few thousands of pounds.
For that reason, in most cases MOV8 highly recommends these enhanced advertising products to anyone selling a property and, personally, when I am selling my own property in the near future, I will be taking every single enhanced product that is available to give my own home the very best chance of getting the very best price in the quickest possible time.
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