Homes sell better with print and online marketing: research
RESEARCH has found unit sellers are raking in an extra $64,000 on their sale price through marketing in The Gympie Times and online.
The figures from independent property data and analytics provider CoreLogic RP Data show the average unit sale, not listing, price for those who used the two mediums together between December 2013 and November 2014 was about $235,000.
Houses solely marketed online averaged $171,000.
The days on market also dropped from dramatically, from 103 for those advertised online to 65 for units listed on both platforms.
The analysis shows real estate is not just about location, location, location - sellers must also consider promotion, promotion, promotion.
CoreLogic RP Data executive general manager of solutions, Greg Dickason, said the real key to maximising success was in print marketing.
He said it was clear advertising in print tended to help properties sell faster and closer to the asking price.
Mr Dickason said the money made through print marketing justified sellers paying for advertising in the newspaper.
Tom Grady Real Estate's Tom Grady said it was important to advertise in both print and online.
He said it was difficult to determine which platform was more effective.
"You've really got to cover both or you've done half the job," he said.
Mr Dickason said the data disproved some real estate agents' beliefs online marketing was more effective.
CoreLogic RP Data has been honing this study for about three years.
Mr Dickason said the company analysed every listing in print, on agencies' websites and on major online portals that collate thousands of online listings.
Analysts investigate where each property is advertised, its time on the market, the offer price and the value of the final deal.
The study also found using both platforms increased the sales success rate 64% for units.
Mr Dickason explained the percentage reflected the number of properties sold of those listed.
Units advertised in The Gympie Times and online
increase in success rate: 64%
increase in sold price: 37.4%
increase in sell price: $64,033
average days on the market: 65
Source: CoreLogic RP Data
NINE STEPS TO SELLING YOUR PROPERTY
1. Choose an agent
2. Sale method
3. Marketing and advertising
4. Decide on a listing price
5. Prepare the property
7. Accept an offer or nominate reserve price
8. Sign sale contract
9. Pay the agent
Source: Real Estate Institute of Queensland