How to secure VPA
Some top tips from agents around the country.
Some vendors assume the fees they pay their agent will include the marketing spend, or vendor paid advertising, required in selling their home. Or, they may be happy to invest in one area of advertising but not another. So, in some cases, agents have to do a bit of educating on VPA when first working with a vendor.
Script: “Who don’t you want?”
In order to get her vendors over the line on VPA, Erin Rush, a Harcourts Wellington agent, takes time to talk to clients through the different kinds of buyers paid advertising is likely to attract. She splits it up into three types, Buyer A, B and C.
Buyer As are the active buyers. They’re getting the digital alerts for their search criteria, they’re hovering over their phones ready to buy every day. These people have usually bought in three weeks, says Rush.
Then there are Buyer Bs who aren’t jumping at everything, but they’re very engaged online. They’re using their devices to find and research property, and they might pick up a free property magazine.
Finally, Buyer Cs are the passive ones. They don’t know what they’re looking for until they see the property. This group can move the quickest and shouldn’t be ignored, says the Harcourts agent.
After Rush has described these buyers to her clients, she’ll then say: “Which buyer don’t you want?”
For most people they have one shot at getting all the buyers in a room, she says. She tells her vendor: “We want them all, can you invest?”
For digital advertising, which she rarely gets pushback on, she’ll put the VPA into Trade Me Property, realestate.co.nz and the Chinese language website, HouGarden.co.nz. Harcourts has a large real estate website too.
To back up her advice, Rush stresses her information to clients is evidence based. At call backs from open homes, she’ll ask where they heard about the property. If you think you know who your house is going to appeal to, think again, says the agent.
“I am surprised every single day who walks in.”
Tailoring VPA differently each time
Busy Bayleys Christchurch agent, Adam Heazlewood, tailors VPA individually to the client and the property. To bring vendors over the line, he tells them about recent case studies and war stories, he says. "As long as you’re knowledgeable of the benefits of the marketing and distribution of those platforms it should be an easy conversation” he says.
Heazlewood, who always uses Trade Me Property Premium Listing, also uses realestate.co.nz, meanwhile videos within VPA are a key part of his marketing. These are the best way of engaging buyers, he finds.
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